summary
Introduced
05/17/2016
05/17/2016
In Committee
05/17/2016
05/17/2016
Crossed Over
Passed
Dead
01/03/2017
01/03/2017
Introduced Session
114th Congress
Bill Summary
End Housing Subsidies for the Rich Act of 2016 This bill amends the United States Housing Act of 1937 to revise eligibility requirements for assisted housing. If a public housing agency (PHA) determines that a tenant's income is greater than 120% of the area median income for two consecutive years, the PHA must terminate the family's tenancy within six months. Such a family may, however, continue to occupy the dwelling unit month-to-month if: the PHA charges the family the fair market rent, and there are no eligible families applying for housing assistance from the PHA for that month and the agency provides at least a 30-day public notice of the availability of such assistance. A PHA may not rent a dwelling unit to or assist families with net family assets exceeding $100,000 annually (adjusted for inflation) or an ownership interest in property that is suitable for occupancy. This restriction does not apply to victims of domestic violence, individuals using housing assistance for homeownership opportunities, or a family that is offering a property for sale. PHAs must require applicants to authorize financial institutions to disclose records necessary to determine eligibility for benefits.
AI Summary
This bill, titled the "End Housing Subsidies for the Rich Act of 2016," amends the United States Housing Act of 1937 to revise eligibility for assisted housing by establishing new income and asset limits. Specifically, if a public housing agency (PHA) determines a tenant's income has exceeded 120% of the area median income for two consecutive years, their tenancy must be terminated within six months, though they may continue on a month-to-month basis if charged fair market rent and no eligible families are applying for assistance. The bill also prohibits PHAs from renting to or assisting families with net family assets exceeding $100,000 annually (adjusted for inflation) or who own suitable property for occupancy, with exceptions for victims of domestic violence, those using assistance for homeownership, or families offering a property for sale. To enforce these rules, PHAs will be required to obtain authorization from applicants to access their financial records from financial institutions, as defined by the Right to Financial Privacy Act, to verify income and assets.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 05/17/2016)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/114th-congress/senate-bill/2935/all-info | 05/19/2016 |
| BillText | https://www.congress.gov/114/bills/s2935/BILLS-114s2935is.pdf | 08/29/2016 |
| Bill | https://www.congress.gov/114/bills/s2935/BILLS-114s2935is.pdf.pdf | 08/29/2016 |
| BillText | http://gpo.gov/fdsys/pkg/BILLS-114s2935is/pdf/BILLS-114s2935is.pdf | 05/19/2016 |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-114s2935is/pdf/BILLS-114s2935is.pdf.pdf | 05/19/2016 |
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