1 | 1 | | I |
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2 | 2 | | 119THCONGRESS |
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3 | 3 | | 1 |
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4 | 4 | | STSESSION H. R. 2064 |
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5 | 5 | | To require the Secretary of Housing and Urban Development to establish |
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6 | 6 | | a program to provide homeownership assistance grants, and for other |
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7 | 7 | | purposes. |
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8 | 8 | | IN THE HOUSE OF REPRESENTATIVES |
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9 | 9 | | MARCH11, 2025 |
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10 | 10 | | Ms. L |
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11 | 11 | | EGERFERNANDEZ(for herself, Mr. COSTA, Mr. GARCI´Aof Illinois, Mr. |
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12 | 12 | | G |
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13 | 13 | | ARCIAof California, Ms. LOISFRANKELof Florida, Mr. JOHNSONof |
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14 | 14 | | Georgia, Ms. M |
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15 | 15 | | CCOLLUM, Ms. NORTON, Mrs. RAMIREZ, Ms. SCANLON, |
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16 | 16 | | and Ms. S |
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17 | 17 | | TANSBURY) introduced the following bill; which was referred to |
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18 | 18 | | the Committee on Financial Services, and in addition to the Committee |
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19 | 19 | | on Ways and Means, for a period to be subsequently determined by the |
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20 | 20 | | Speaker, in each case for consideration of such provisions as fall within |
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21 | 21 | | the jurisdiction of the committee concerned |
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22 | 22 | | A BILL |
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23 | 23 | | To require the Secretary of Housing and Urban Development |
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24 | 24 | | to establish a program to provide homeownership assist- |
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25 | 25 | | ance grants, and for other purposes. |
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26 | 26 | | Be it enacted by the Senate and House of Representa-1 |
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27 | 27 | | tives of the United States of America in Congress assembled, 2 |
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28 | 28 | | SECTION 1. SHORT TITLE. 3 |
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29 | 29 | | This Act may be cited as the ‘‘Home of Your Own 4 |
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30 | 30 | | Act of 2025’’. 5 |
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32 | 32 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 2 |
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33 | 33 | | •HR 2064 IH |
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34 | 34 | | SEC. 2. ESTABLISHMENT OF HOMEOWNERSHIP ASSIST-1 |
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35 | 35 | | ANCE GRANT PROGRAM. 2 |
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36 | 36 | | (a) I |
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37 | 37 | | NGENERAL.—The Secretary of Housing and 3 |
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38 | 38 | | Urban Development shall, not later than 1 year after the 4 |
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39 | 39 | | date of the enactment of this Act, establish a homeowner-5 |
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40 | 40 | | ship assistance grant program through which amounts are 6 |
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41 | 41 | | provided to States and Indian tribes to assist the purchase 7 |
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42 | 42 | | of eligible homes by eligible persons. 8 |
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43 | 43 | | (b) A |
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44 | 44 | | LLOCATION OFAMOUNTS.— 9 |
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45 | 45 | | (1) I |
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46 | 46 | | N GENERAL.—The Secretary shall reserve 10 |
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47 | 47 | | 3 percent of any amounts appropriated under this 11 |
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48 | 48 | | Act, for a fiscal year, for grants to Indian tribes in 12 |
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49 | 49 | | accordance with the formula established by the Sec-13 |
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50 | 50 | | retary pursuant to section 302 of the Native Amer-14 |
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51 | 51 | | ican Housing Assistance and Self-Determination Act 15 |
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52 | 52 | | of 1996 (25 U.S.C. 4152). 16 |
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53 | 53 | | (2) R |
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54 | 54 | | EMAINING AMOUNTS .—After reserving 17 |
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55 | 55 | | such amounts for Indian tribes under paragraph (1), 18 |
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56 | 56 | | the Secretary shall equitably allocate remaining 19 |
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57 | 57 | | amounts to participating States in accordance with 20 |
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58 | 58 | | a formula established by the Secretary by rule. 21 |
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59 | 59 | | (c) U |
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60 | 60 | | SE OFAMOUNTS.— 22 |
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61 | 61 | | (1) I |
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62 | 62 | | N GENERAL.—States and Indian tribes 23 |
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63 | 63 | | that receive amounts under this Act shall use such 24 |
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64 | 64 | | amounts to provide assistance on behalf of eligible 25 |
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65 | 65 | | persons for— 26 |
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67 | 67 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 3 |
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68 | 68 | | •HR 2064 IH |
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69 | 69 | | (A) costs incurred acquiring an ownership 1 |
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70 | 70 | | interest in an eligible home by means of an eli-2 |
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71 | 71 | | gible mortgage loan, including downpayment 3 |
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72 | 72 | | costs, closing costs, and costs to reduce interest 4 |
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73 | 73 | | rates on such loan; or 5 |
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74 | 74 | | (B) pre-occupancy repairs or modifications 6 |
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75 | 75 | | required for a member of the household of the 7 |
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76 | 76 | | homebuyer to occupy the home following such 8 |
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77 | 77 | | acquisition, including repairs to bring the home 9 |
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78 | 78 | | up to inspection standards and costs associated 10 |
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79 | 79 | | with reasonable accommodations or reasonable 11 |
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80 | 80 | | modifications for a household member with a 12 |
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81 | 81 | | disability, when applicable. 13 |
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82 | 82 | | (2) A |
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83 | 83 | | MOUNT OF ASSISTANCE .—States and In-14 |
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84 | 84 | | dian tribes that receive amounts under this Act may 15 |
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85 | 85 | | provide assistance only once on behalf of an eligible 16 |
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86 | 86 | | person and the amount of such assistance provided 17 |
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87 | 87 | | on behalf of such eligible person shall be $30,000. 18 |
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88 | 88 | | (d) L |
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89 | 89 | | AYERING OFASSISTANCE.—States and Indian 19 |
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90 | 90 | | tribes that receive amounts under this Act may provide 20 |
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91 | 91 | | assistance on behalf of an eligible person who is receiving 21 |
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92 | 92 | | assistance from other sources, including other State, Fed-22 |
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93 | 93 | | eral, Indian tribe, tribal organization, private and public 23 |
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94 | 94 | | tax-exempt nonprofit organizations, for acquisition of an 24 |
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95 | 95 | | ownership interest in an eligible home. 25 |
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98 | 98 | | •HR 2064 IH |
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99 | 99 | | (e) REPAYMENT OFASSISTANCE IFOCCUPANCYNOT 1 |
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100 | 100 | | C |
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101 | 101 | | ONTINUED.— 2 |
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102 | 102 | | (1) I |
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103 | 103 | | N GENERAL.—If an eligible person does 3 |
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104 | 104 | | not continue to occupy, as a primary residence, the 4 |
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105 | 105 | | eligible home for which the covered person receives 5 |
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106 | 106 | | assistance under this Act for the 60-month period 6 |
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107 | 107 | | beginning when the covered person is able to law-7 |
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108 | 108 | | fully occupy the eligible home, the Secretary shall re-8 |
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109 | 109 | | quire the eligible person to repay the assistance re-9 |
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110 | 110 | | ceived in an amount that is proportional to the num-10 |
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111 | 111 | | ber of months the eligible person did not occupy the 11 |
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112 | 112 | | eligible home as a primary residence. 12 |
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113 | 113 | | (2) E |
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114 | 114 | | XCEPTIONS.—The Secretary may not re-13 |
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115 | 115 | | quire an eligible person to repay assistance under 14 |
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116 | 116 | | paragraph (1) if the Secretary determines that— 15 |
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117 | 117 | | (A) a hardship as described by the Sec-16 |
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118 | 118 | | retary prevents the eligible person from occu-17 |
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119 | 119 | | pying the eligible home as the primary resi-18 |
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120 | 120 | | dence; or 19 |
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121 | 121 | | (B) any amount received by the eligible 20 |
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122 | 122 | | person from an arm’s length transaction selling 21 |
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123 | 123 | | the entirety of the ownership interest in the eli-22 |
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124 | 124 | | gible home of the homebuyer to a bona fide 23 |
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125 | 125 | | purchaser is less than the original cost of acqui-24 |
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126 | 126 | | sition of the home, including closing costs. 25 |
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129 | 129 | | •HR 2064 IH |
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130 | 130 | | (3) USE OF LIEN.—The State or Indian tribe 1 |
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131 | 131 | | that provided the assistance to the eligible person 2 |
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132 | 132 | | may place a lien on the eligible home for the purpose 3 |
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133 | 133 | | of recapturing such assistance. 4 |
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134 | 134 | | (4) U |
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135 | 135 | | SE OF RECAPTURED AMOUNTS .—Any as-5 |
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136 | 136 | | sistance repaid pursuant to paragraph (1) shall be 6 |
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137 | 137 | | used to provide assistance to other covered persons. 7 |
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138 | 138 | | (f) A |
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139 | 139 | | SSISTANCEAMOUNTSEXCLUDEDFROMFED-8 |
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140 | 140 | | ERALTAXATION.—For purposes of the Internal Revenue 9 |
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141 | 141 | | Code of 1986, gross income shall not include any assist-10 |
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142 | 142 | | ance provided under this Act. 11 |
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143 | 143 | | (g) R |
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144 | 144 | | ULE OFCONSTRUCTION.—Assistance provided 12 |
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145 | 145 | | to an eligible person by a State or Indian tribe under this 13 |
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146 | 146 | | section may not be considered funds from a prohibited 14 |
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147 | 147 | | source for the purposes of section 203(b)(9)(C) of the Na-15 |
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148 | 148 | | tional Housing Act (12 U.S.C. 1709(b)(9)(C)). 16 |
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149 | 149 | | SEC. 3. ADMINISTRATION OF GRANTS BY STATES AND IN-17 |
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150 | 150 | | DIAN TRIBES. 18 |
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151 | 151 | | (a) A |
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152 | 152 | | DMINISTRATION BYSTATES.— 19 |
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153 | 153 | | (1) I |
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154 | 154 | | N GENERAL.—The Secretary shall require 20 |
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155 | 155 | | that each State receiving grant amounts under this 21 |
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156 | 156 | | Act— 22 |
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157 | 157 | | (A) submit an annual plan to the Secretary 23 |
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158 | 158 | | with respect to implementing and complying 24 |
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159 | 159 | | with the requirements of this Act; and 25 |
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162 | 162 | | •HR 2064 IH |
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163 | 163 | | (B) distribute not less than 25 percent of 1 |
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164 | 164 | | the amounts allocated to the State through 2 |
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165 | 165 | | community development financial institutions. 3 |
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166 | 166 | | (2) A |
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167 | 167 | | NNUAL PLAN.—The annual plan required 4 |
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168 | 168 | | under paragraph (1) may be included in the Annual 5 |
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169 | 169 | | Action Plan submitted to the Secretary by such 6 |
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170 | 170 | | State. 7 |
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171 | 171 | | (3) O |
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172 | 172 | | UTSOURCING PERMITTED .—The Secretary 8 |
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173 | 173 | | may permit a State to contract with one or more of 9 |
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174 | 174 | | the following to provide amounts to eligible persons 10 |
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175 | 175 | | on behalf of the State: 11 |
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176 | 176 | | (A) A tax-exempt private or public non-12 |
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177 | 177 | | profit organization approved by the Secretary. 13 |
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178 | 178 | | (B) A community development financial in-14 |
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179 | 179 | | stitution. 15 |
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180 | 180 | | (b) A |
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181 | 181 | | DMINISTRATION BYINDIANTRIBES.— 16 |
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182 | 182 | | (1) I |
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183 | 183 | | N GENERAL.—The Secretary shall require 17 |
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184 | 184 | | that each Indian tribe receiving grant amounts 18 |
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185 | 185 | | under this Act— 19 |
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186 | 186 | | (A) submit an annual plan to the Secretary 20 |
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187 | 187 | | with respect to implementing and complying 21 |
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188 | 188 | | with the requirements of this Act; and 22 |
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189 | 189 | | (B) consider distributing some or all 23 |
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190 | 190 | | amounts allocated to the Indian tribe through 24 |
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191 | 191 | | community development financial institutions. 25 |
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194 | 194 | | •HR 2064 IH |
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195 | 195 | | (2) ANNUAL PLAN.—The annual plan required 1 |
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196 | 196 | | under paragraph (1) may be included in the Indian 2 |
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197 | 197 | | Housing Plan submitted to the Secretary by such 3 |
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198 | 198 | | Indian tribe. 4 |
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199 | 199 | | (3) O |
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200 | 200 | | UTSOURCING PERMITTED .—The Secretary 5 |
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201 | 201 | | may permit a Tribe to contract with one or more of 6 |
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202 | 202 | | the following to provide amounts to eligible persons 7 |
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203 | 203 | | on behalf of the Tribe: 8 |
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204 | 204 | | (A) A tax-exempt private or public non-9 |
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205 | 205 | | profit organization approved by the Secretary. 10 |
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206 | 206 | | (B) A Tribally designated housing entity. 11 |
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207 | 207 | | (C) An intertribal consortium. 12 |
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208 | 208 | | (D) A community development financial in-13 |
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209 | 209 | | stitution. 14 |
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210 | 210 | | (4) P |
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211 | 211 | | REFERENCE PERMITTED .—An Indian 15 |
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212 | 212 | | tribe that receives amounts under this Act may pro-16 |
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213 | 213 | | vide preference to eligible persons who are members 17 |
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214 | 214 | | of such Indian tribe as well as to members of other 18 |
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215 | 215 | | Indian tribes. 19 |
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216 | 216 | | SEC. 4. FINANCIAL COUNSELING REQUIREMENT. 20 |
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217 | 217 | | (a) I |
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218 | 218 | | NGENERAL.—A State or Indian tribe may only 21 |
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219 | 219 | | provide assistance under this Act to an eligible person if 22 |
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220 | 220 | | such eligible person, before receiving such assistance, com-23 |
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221 | 221 | | pletes a financial counseling program with respect to the 24 |
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224 | 224 | | •HR 2064 IH |
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225 | 225 | | responsibilities and financial management of homeowner-1 |
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226 | 226 | | ship. 2 |
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227 | 227 | | (b) A |
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228 | 228 | | PPROVAL ANDMANNER OFPROGRAM.—The fi-3 |
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229 | 229 | | nancial counseling program shall be conducted by an enti-4 |
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230 | 230 | | ty that provides financial counseling approved by, and in 5 |
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231 | 231 | | a manner acceptable to— 6 |
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232 | 232 | | (1) the Secretary; or 7 |
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233 | 233 | | (2) the Indian tribe or State providing assist-8 |
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234 | 234 | | ance to the eligible person. 9 |
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235 | 235 | | SEC. 5. AUTHORIZATION OF APPROPRIATIONS; ADMINIS-10 |
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236 | 236 | | TRATIVE COSTS. 11 |
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237 | 237 | | (a) I |
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238 | 238 | | NGENERAL.—There is authorized to be appro-12 |
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239 | 239 | | priated $6,700,000,000 for each of fiscal years 2026 13 |
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240 | 240 | | through 2030 to carry out this Act. 14 |
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241 | 241 | | (b) P |
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242 | 242 | | ROGRAMADMINISTRATION.— 15 |
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243 | 243 | | (1) F |
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244 | 244 | | OR STATES.—Not more than 7 percent of 16 |
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245 | 245 | | any amounts provided to a State under this Act may 17 |
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246 | 246 | | be used by such State to cover administrative costs. 18 |
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247 | 247 | | (2) F |
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248 | 248 | | OR INDIAN TRIBES.—Not more than 10 19 |
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249 | 249 | | percent of any amounts provided to an Indian Tribe 20 |
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250 | 250 | | under this Act may be used by such Indian Tribe to 21 |
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251 | 251 | | cover administrative costs. 22 |
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252 | 252 | | (c) T |
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253 | 253 | | RAINING ANDTECHNICALASSISTANCE.—Not 23 |
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254 | 254 | | more than 3 percent of any amounts appropriated under 24 |
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257 | 257 | | •HR 2064 IH |
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258 | 258 | | this Act may be used by the Secretary to provide training 1 |
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259 | 259 | | and technical assistance to States and Indian tribes. 2 |
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260 | 260 | | SEC. 6. DEFINITIONS. 3 |
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261 | 261 | | In this Act: 4 |
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262 | 262 | | (1) C |
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263 | 263 | | OMMUNITY DEVELOPMENT FINANCIAL IN -5 |
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264 | 264 | | STITUTION.—The term ‘‘community development fi-6 |
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265 | 265 | | nancial institution’’ has the meaning given the term 7 |
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266 | 266 | | in section 103 of the Community Development 8 |
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267 | 267 | | Banking and Financial Institutions Act of 1994. 9 |
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268 | 268 | | (2) E |
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269 | 269 | | LIGIBLE HOME.—The term ‘‘eligible 10 |
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270 | 270 | | home’’ means a residential property, including a con-11 |
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271 | 271 | | dominium, cooperative, or manufactured housing 12 |
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272 | 272 | | unit, that— 13 |
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273 | 273 | | (A) consists of 1 to 4 dwelling units, in-14 |
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274 | 274 | | cluding accessory dwelling units; 15 |
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275 | 275 | | (B) is subject to a mortgage, and— 16 |
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276 | 276 | | (i) meets the underwriting require-17 |
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277 | 277 | | ments and dollar amount limitations for 18 |
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278 | 278 | | acquisition by the Federal National Mort-19 |
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279 | 279 | | gage Association or the Federal Home 20 |
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280 | 280 | | Loan Mortgage Corporation; 21 |
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281 | 281 | | (ii) is made, insured, or guaranteed 22 |
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282 | 282 | | under any program administered by the 23 |
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283 | 283 | | Secretary; 24 |
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286 | 286 | | •HR 2064 IH |
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287 | 287 | | (iii) is made, insured, or guaranteed 1 |
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288 | 288 | | by the Rural Housing Administrator of the 2 |
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289 | 289 | | Department of Agriculture; 3 |
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290 | 290 | | (iv) is a qualified mortgage, as defined 4 |
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291 | 291 | | in section 129C(b)(2) of the Truth in 5 |
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292 | 292 | | Lending Act (15 U.S.C. 1639c(b)(2)); 6 |
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293 | 293 | | (v) is made, insured, or guaranteed by 7 |
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294 | 294 | | the Secretary of Veterans Affairs pursuant 8 |
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295 | 295 | | to chapter 37 of title 38, United States 9 |
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296 | 296 | | Code; or 10 |
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297 | 297 | | (vi) in the case of a residential prop-11 |
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298 | 298 | | erty located on tribal trust or reservation 12 |
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299 | 299 | | land, meets such requirements as the Sec-13 |
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300 | 300 | | retary determines appropriate for con-14 |
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301 | 301 | | sumer protection; and 15 |
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302 | 302 | | (C) shall be occupied by an eligible person 16 |
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303 | 303 | | as a primary residence. 17 |
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304 | 304 | | (3) E |
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305 | 305 | | LIGIBLE PERSON.— 18 |
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306 | 306 | | (A) I |
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307 | 307 | | N GENERAL.—The term ‘‘eligible per-19 |
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308 | 308 | | son’’ means— 20 |
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309 | 309 | | (i) a person who, as self-attested by 21 |
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310 | 310 | | the person, is a ‘‘first-time homebuyer’’; 22 |
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311 | 311 | | and 23 |
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312 | 312 | | (ii) is a part of a household, the in-24 |
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313 | 313 | | come of which does not exceed— 25 |
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316 | 316 | | •HR 2064 IH |
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317 | 317 | | (I) in the case of a person pur-1 |
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318 | 318 | | chasing an eligible home that is not 2 |
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319 | 319 | | located on Indian tribe land, 120 per-3 |
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320 | 320 | | cent of the median income for the 4 |
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321 | 321 | | local area, as determined by the Sec-5 |
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322 | 322 | | retary, within which— 6 |
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323 | 323 | | (aa) the eligible home, for 7 |
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324 | 324 | | which the ownership interest is to 8 |
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325 | 325 | | be acquired using such assist-9 |
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326 | 326 | | ance, is located; or 10 |
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327 | 327 | | (bb) the place of residence 11 |
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328 | 328 | | of the homebuyer is located; and 12 |
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329 | 329 | | (II) in the case of a person who 13 |
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330 | 330 | | is purchasing an eligible home that is 14 |
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331 | 331 | | located on Indian tribe land, the 15 |
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332 | 332 | | greater of 120 percent of the median 16 |
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333 | 333 | | income of the United States or 120 17 |
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334 | 334 | | percent of the median income for the 18 |
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335 | 335 | | local area, as determined by the Sec-19 |
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336 | 336 | | retary, within which— 20 |
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337 | 337 | | (aa) the eligible home, for 21 |
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338 | 338 | | which the ownership interest is to 22 |
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339 | 339 | | be acquired using such assist-23 |
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340 | 340 | | ance, is located; or 24 |
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342 | 342 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 12 |
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343 | 343 | | •HR 2064 IH |
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344 | 344 | | (bb) the place of residence 1 |
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345 | 345 | | of the homebuyer is located. 2 |
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346 | 346 | | (B) E |
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347 | 347 | | XCEPTION.—If the Secretary deter-3 |
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348 | 348 | | mines that the area described in subparagraph 4 |
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349 | 349 | | (A)(ii) is a high cost-of-living area, then the eli-5 |
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350 | 350 | | gible person is required to be a part of a house-6 |
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351 | 351 | | hold, the income of which does not exceed 150 7 |
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352 | 352 | | percent of the median income for the area, as 8 |
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353 | 353 | | determined by the Secretary. 9 |
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354 | 354 | | (4) F |
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355 | 355 | | IRST-TIME HOMEBUYER.—The term ‘‘first- 10 |
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356 | 356 | | time homebuyer’’ has the meaning given the term is 11 |
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357 | 357 | | defined in section 104 of the Cranston Gonzalez Na-12 |
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358 | 358 | | tional Affordable Housing Act (42 U.S.C. 12704). 13 |
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359 | 359 | | (5) I |
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360 | 360 | | NDIAN TRIBE.—The term ‘‘Indian tribe’’ 14 |
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361 | 361 | | has the meaning given the term in section 4 of the 15 |
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362 | 362 | | Native American Housing Assistance and Self-De-16 |
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363 | 363 | | termination Act of 1996 (25 U.S.C. 4103). 17 |
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364 | 364 | | (6) O |
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365 | 365 | | WNERSHIP INTEREST .—The term ‘‘owner-18 |
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366 | 366 | | ship interest’’ means any ownership, excluding any 19 |
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367 | 367 | | interest in heir property, in— 20 |
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368 | 368 | | (A) real estate in fee simple; 21 |
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369 | 369 | | (B) a leasehold on real estate, under a 22 |
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370 | 370 | | lease that is not less than 10 years longer than 23 |
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371 | 371 | | the term of the mortgage; 24 |
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373 | 373 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB 13 |
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374 | 374 | | •HR 2064 IH |
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375 | 375 | | (C) a fee interest in, or long-term leasehold 1 |
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376 | 376 | | interest in, real estate consisting of a one-family 2 |
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377 | 377 | | unit in a multifamily project, including a 3 |
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378 | 378 | | project in which the dwelling units are attached, 4 |
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379 | 379 | | or are manufactured housing units, semi-de-5 |
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380 | 380 | | tached, or detached, and an undivided interest 6 |
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381 | 381 | | in the common areas and facilities which serve 7 |
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382 | 382 | | the project. 8 |
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383 | 383 | | (7) S |
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384 | 384 | | ECRETARY.—The term ‘‘Secretary’’ means 9 |
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385 | 385 | | the Secretary of Housing and Urban Development. 10 |
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386 | 386 | | (8) S |
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387 | 387 | | TATE.—The term ‘‘State’’ means the 50 11 |
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388 | 388 | | States of the United States, the District of Colum-12 |
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389 | 389 | | bia, the Commonwealth of Puerto Rico, Guam, the 13 |
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390 | 390 | | Commonwealth of the Northern Mariana Islands, 14 |
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391 | 391 | | the Virgin Islands, and American Samoa. 15 |
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392 | 392 | | Æ |
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393 | 393 | | VerDate Sep 11 2014 22:57 Mar 24, 2025 Jkt 059200 PO 00000 Frm 00013 Fmt 6652 Sfmt 6301 E:\BILLS\H2064.IH H2064 |
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394 | 394 | | kjohnson on DSK7ZCZBW3PROD with $$_JOB |
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