House Approves Bill to Reform Federal Housing Programs

Filed in Capitol Hill, Multifamily by on February 2, 2016 0 Comments


The House on Feb. 2 approved the Housing Opportunity Through Modernization Act of 2015 (H.R. 3700), legislation that includes many NAHB-supported bipartisan fixes to HUD programs.

Introduced by Rep. Blaine Luetkemeyer (R-Mo.), the measure contains a number of reforms to increase access to affordable rental housing, provide assistance to low-income renters and facilitate homeownership. Specifically, the bill would:

  • Allow the contract terms of HUD’s section 8 Housing Choice Voucher program to be extended from 15 to 20 years.
  • Pare down duplicative requirements that have made the Section 8 program difficult to administer.
  • Protect Section 8 Housing Choice Voucher residents from displacement due to fluctuations in the Fair Market Rent, which determines payment standard amounts for the voucher program.
  • Change the Rural Housing Service Single Family Guaranteed Loan Program so that it will be current with other government loan programs while providing efficiencies for home buyers and lenders.
  • Reduce current FHA regulations surrounding existing condominium projects, including streamlining project certification rules and reducing owner-occupancy requirements.

2014 NAHB Chairman Kevin Kelly testified before Congress in support of the bill last fall. For more information, email Jessica Hall at NAHB or call her at 800-368-5242 x8253

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