S1527Referred to Committee

Housing Affordability Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-04-30
Introduced
2
Cosponsors
S
ⓘ
Type

Sponsor

Ruben Gallego
Ruben Gallego
Democrat · AZ · Senator
Votes with party: 50.2% (277 recorded votes)

Full profile: /officials/G000574

Source: Congress.gov · FEC

Cosponsors (2)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2025-04-30

Source: Congress.gov

Committee Activity

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Plain-English Summary

Housing Affordability Act This bill increases the Federal Housing Administration’s (FHA's) multifamily housing loan limits for mortgage insurance and requires the use of a more specific inflation index for these limits. Specifically, the bill increases the loan limits to qualify for FHA mortgage insurance for rental housing, cooperative housing, rehabilitation and neighborhood conservation housing, housing for moderate income and displaced families, housing for elderly persons, and condominiums, and it requires these limits to be indexed to the Price Deflator Index of Multifamily Residential Units Under Construction released by the Bureau of the Census. Currently, these limits are indexed to the Consumer Price Index for All Urban Consumers.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector
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