H.R. 2339: Affordable Housing Regulation Simplification Act of 2013

Introduced:
Jun 12, 2013
Status:
Referred to Committee on Jun 12, 2013
Prognosis
0% chance of being enacted
Track this bill

This bill was assigned to a congressional committee on June 12, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Introduced
Jun 12, 2013
Reported by Committee
Passed House
Passed Senate
Signed by the President
 
Sponsor
Jared Polis
Representative for Colorado's 2nd congressional district
Party
Democrat
Text
Read Text »
Last Updated
Jun 12, 2013
Length
24 pages
Related Bills
H.R. 6394 (112th) was a previous version of this bill.

Referred to Committee
Last Action: Sep 13, 2012

 
Full Title

To facilitate affordable workforce homeownership in, and develop the full-time resident communities of, high tourism areas, and for other purposes.

Summary

No summaries available.

 
Prognosis

2% chance of getting past committee.
0% chance of being enacted.

Only 11% of bills made it past committee and only about 3% were enacted in 2011–2013. [show factors | methodology]

Cosponsors
none
Committees

House Energy and Commerce

Commerce, Manufacturing, and Trade

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

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Citation

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


6/12/2013--Introduced.
Affordable Housing Regulation Simplification Act of 2013 - Amends the Federal National Mortgage Association Charter Act to authorize the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation Act to authorize the Federal Home Loan Mortgage Corporation (Freddie Mac), to purchase, service, sell, lend on the security of, and otherwise deal in affordable workforce housing mortgages for one-family residences:
(1) that shall be used as the mortgagor's residence at least 8 of any 12 months and 240 days of any 365 days;
(2) located within, or are part of, a multifamily housing development meeting certain requirements,
(3) is subject to certain resale restrictions; and
(4) is located in a high tourism area.
Prescribes mortgagor income and employment criteria.
Exempts such mortgages from any requirements and guidelines of such government sponsored entities (also known as GSEs) that are inconsistent with such authority.
Limits the application of this Act to such mortgages in a high tourism area.
Amends the National Housing Act to authorize the Secretary of Housing and Urban Development (HUD) to insure any affordable workforce housing mortgage meeting certain requirements.
Requires the Secretary of HUD to provide a spot approval process for insurance of condominium unit mortgages that does not require prior approval of the entire project or of the homeowners association for the entire project.
Directs the Secretary of Commerce to: (1) determine high tourism areas; and (2) reassess and update such designation on a biennial basis

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

The House Democratic Caucus does not provide summaries of bills.

So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

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