HR 9862
Combating the Housing Supply Shortage Act of 2024
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Bill overview
The Combating the Housing Supply Shortage Act of 2024 aims to increase the availability of affordable housing by allowing states to reallocate unused volume caps for private activity bonds. Specifically, it enables states to use excess bond capacity from previous years to finance more qualified residential rental projects, prioritizing those with the greatest housing need. This is achieved through a process that calculates each state’s ‘housing need percentage’ based on its multifamily bond issuance relative to national totals, and then allocates a portion of the national unused volume cap to states with higher housing needs.
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Primary sponsor
Cosponsors
Barbara Lee
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