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US HB3214
Bill
Status
5/6/2025
Primary Sponsor
Steven Horsford
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AI Summary
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Prohibits unconscionably excessive rental and single-family home sale prices during Secretary of HUD-declared affordable housing crisis periods, with crisis determinations lasting up to 30 days and renewable
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Establishes enforcement through HUD with Federal Trade Commission-style authority, plus allows state attorneys general to bring civil actions; penalties deposited into the Housing Trust Fund for low-income housing assistance
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Requires HUD investigation within 270 days into whether housing prices are being manipulated through reduced capacity or price gouging, with $1,000,000 authorized for fiscal year 2025
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Creates Housing Monitoring and Enforcement Unit within HUD to collect and analyze rental and sale market data, track institutional investor purchases, and triggers investigation when a single purchaser acquires more than 5% of single-family homes in a market over 3 years or institutional investors collectively acquire more than 25% over 1 year
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Directs FHFA to establish renter protection standards for Fannie Mae and Freddie Mac multifamily mortgage purchases, and requires joint DOJ-FTC review of anti-competitive behaviors in housing markets within 1 year
Legislative Description
HOME Act of 2025 Housing Oversight and Mitigating Exploitation Act of 2025
Housing and community development
Last Action
Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
5/6/2025