Chairwoman Waters, Senator Harris Introduce Housing is Infrastructure Act

House Committee on Financial Services Chairwoman Maxine Waters (D-CA) and Senator Kamala Harris (D-CA) introduced the Housing is Infrastructure Act of 2019 (H.R. 5187/S. 2951). The bills contain the following investments in housing:

  • $70 billion to fully address the public housing capital backlog;
  • $1 billion to fully fund the backlog of capital needs for the Section 515 and 514 rural housing stock;
  • $5 billion to support mitigation efforts that can protect communities from future disasters and reduce post-disaster federal spending;
  • $5 billion for the Housing Trust Fund to support the creation of hundreds of thousands of new units of housing that would be affordable to the lowest income households;
  • $100 million to help low income elderly households in rural areas age in place;
  • $1 billion for the Native American Housing Block Grant Program to address substandard housing conditions on tribal lands;
  • $10 billion for a CDBG set-aside to incentivize states and cities to eliminate impact fees and responsibly streamline the process for development of affordable housing;
  • $2.5 billion for the HOME Investment Partnership Program to fund affordable housing activities such as building, buying, and rehabilitating affordable homes for low-income people;
  • $2.5 billion for the Supporting Housing for Elderly (Section 202 Program);
  • $2.5 billion for Supportive Housing for persons with disabilities (811 Program); and
  • $2.5 billion to the Capital Magnet Fund for competitive grants to Community Development Financial Institutions to finance affordable housing and community revitalization efforts.