US SB2935 | 2015-2016 | 114th Congress

US Congress Senate Bill 2935 (Prior Session Legislation)

Status

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on May 17 2016 - 25% progression, died in committee
Action: 2016-05-17 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

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.

Title

End Housing Subsidies for the Rich Act of 2016

History

Date	Chamber	Action
2016-05-17	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Same As/Similar To

SB3083 (Related) 2016-09-22 - Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.