H.R. 8678

FAIR Costs Act

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I

118th CONGRESS

2d Session

H. R. 8678

IN THE HOUSE OF REPRESENTATIVES

June 11, 2024

Mr. Bowman (for himself and Mrs. Watson Coleman) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend certain Acts to adjust rental payments with respect to certain Federal rental assistance programs, and for other purposes.

1.

Short title

This Act may be cited as the Fair Adjustments for Income-based Rental Costs Act or the FAIR Costs Act.

2.

Adjustments to rental payments with respect to certain Federal rental assistance programs

(a)

United States Housing Act of 1937

The United States Housing Act of 1937 (42 U.S.C. 1437 et. seq.) is amended—

(1)

in section 3(a)(1)(A), by striking 30 and inserting 20;

(2)

in section 8(o)(2)(A)(i), by striking 30 and inserting 20; and

(3)

in section 9(e)(2)(A)—

(A)

in clause (vi), by striking and at the end;

(B)

by redesignating clause (vii) as clause (viii) and by moving such clause 1 em to the right; and

(C)

by inserting after clause (vi) the following:

(vii)

the amount of public housing rental income forgone by the public housing agency as a result of lowering the percentage of monthly adjusted income for the calculation of rental payments; and

.

(b)

Housing Act of 1949

Section 521(a)(3) of the Housing Act of 1949 (42 U.S.C. 1490a(a)(3)) is amended by striking 30 in each place it occurs and inserting 20.

(c)

Housing Act of 1959

Section 202(c)(3) of the Housing Act of 1959 (12 U.S.C. 1701q(c)(3)) is amended by striking 30 and inserting 20.

(d)

Cranston-Gonzalez National Affordable Housing Act

Section 811(d)(3) of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013(d)(3)) is amended by striking 30 and inserting 20.

3.

Technical assistance for applicants for admission to a public housing project

Section 9(h)(1) of the United States Housing Act of 1937 (42 U.S.C. 1437g(h)(1)) is amended by inserting applicants for admission to a project, after organizations,.

4.

Authorization of appropriations with respect to certain Federal rental assistance programs

(a)

United States Housing Act of 1937

The United States Housing Act of 1937 (42 U.S.C. 1437 et. seq.) is amended—

(1)

in section 9(c)(2)(A), by striking , and 2003 and inserting 2003, 2025, and each fiscal year thereafter;

(2)

in section 9(c)(2)(B), by striking , and 2003 and inserting 2003, 2025, and each fiscal year thereafter; and

(3)

in section 8, by adding at the end the following new subsection:

(ee)

Authorization of appropriations for tenant-Based assistance

There are authorized to be appropriated, for fiscal year 2025 and each fiscal year thereafter, such sums as may be necessary for tenant-based assistance under subsection (o).

.

(b)

Housing Act of 1959

Section 202(m) of the Housing Act of 1959 (12 U.S.C. 1701q(m)) is amended to read as follows:

(m)

Authorization of appropriations

There is authorized to be appropriated such sums as may be necessary to carry out this section.

.

(c)

Cranston-Gonzalez National Affordable Housing Act

Subsection (m) of section 811 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 8013(m)) is amended by striking the period at the end and inserting , and such sums as necessary for fiscal year 2025 and each fiscal year thereafter.