Bill > S4824

This bill, the American Housing and Economic Mobility Act of 2024, aims to make housing more affordable and take steps to reverse the legacy of housing discrimination and government negligence. Key provisions include: - Establishing a grant program for local entities to reform land use restrictions and remove barriers to building affordable housing. - Increasing funding for the Housing Trust Fund, Capital Magnet Fund, Public Housing Capital Fund, and other programs to invest in affordable housing infrastructure. - Creating a down payment assistance program for first-time and first-generation homebuyers with low and moderate incomes. - Strengthening the Community Reinvestment Act to ensure financial institutions meet the credit and financial needs of their entire communities, including low- and moderate-income areas. - Expanding fair housing protections to prohibit discrimination based on additional characteristics like sexual orientation, gender identity, and source of income. - Requiring public housing agencies to analyze the locations where voucher holders live and adopt policies to increase access to higher-opportunity neighborhoods. - Reforming estate tax rules, including increasing tax rates, reducing the exclusion amount, and imposing a surtax on billion-dollar estates. - Doubling accessibility requirements for housing constructed, altered, or assisted using funds from this bill.