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Committee Passes Major Housing and Capital Markets Legislation to Support Hardworking Americans

H.R. 5187, the Housing Is Infrastructure Act, Landmark Legislation to Reinvest in America’s Affordable Housing Infrastructure Passes Committee

Washington, DC, February 28, 2020
Tags: SEC , FHA , HUD , Budget

Today, the House Financial Services Committee passed seven bills to benefit consumers, investors and the economy.

The bills passed by the Committee include:

  • H.R. 149, the Housing Fairness Act, a bill introduced by Congressman Al Green (D-TX), Chairman of the Subcommittee on Oversight and Investigations, which would authorize increased funding for the Department of Housing and Urban Development’s Fair Housing Initiatives Program and make a number of reforms to the program.

    The bill was passed by a vote of 33-25.

  • H.R. 4351, the Yes in My Backyard Act, a bill introduced by Congressman Denny Heck (D-WA), which would require localities that receive Community Development Block Grant funding to submit a plan to track and report on the implementation of certain land use policies that promote housing production.

    The bill was passed by voice vote.

  • H.R. 5187, the Housing Is Infrastructure Act, a bill introduced by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, to authorize more than $100 billion dollars in federal spending for the nation’s affordable housing infrastructure, including public housing, supportive housing for seniors and people with disabilities, and rural and Native American housing.

    The bill was passed by a vote of 33-25.

  • H.R. 5929, the Shareholder Political Transparency Act, a bill introduced by Congressman Bill Foster (D-IL), Chairman of the Task Force on Artificial Intelligence, to require public companies to disclose to both the Securities and Exchange Commission (SEC) and investors the amount, date, and nature of the company’s expenditures for political activities.

    The bill was passed by a vote of 33-25.

  • H.R. 5930, the Workforce Investment Disclosure Act, a bill introduced by Congresswoman Cindy Axne (D-IA), to require the Securities and Exchange Commission (SEC) to require public companies to disclose how they train, compensate, and otherwise manage their employees.

    The bill was passed by a vote of 33-25.

  • H.R. 5931, the Improving FHA Support for Small Dollar Mortgages Act, a bipartisan bill introduced by Congressmen Wm. Lacy Clay (D-MO), Chairman of the Subcommittee on Housing, Community Development and Insurance, and Rep. Steve Stivers (R-OH), Ranking Member of the Subcommittee on Housing, Community Development and Insurance, to require the Federal Housing Administration (FHA) to conduct a review of its policies to identify any barriers to supporting mortgages under $70,000 and report to Congress within a year with a plan for removing such barriers.

    The bill was unanimously passed by a vote of 48-0.

  • H.R. 5932, the Ensuring Chinese Debt Transparency Act, a bill introduced by Congressman French Hill (R-AR), which seeks to address concerns that China is trapping developing countries in a cycle of predatory debt.

    The bill was passed by voice  vote.

The Committee also approved views and estimates for the fiscal year 2021 budget resolution, including five Republican amendments, and a resolution electing a minority member to Subcommittees.

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