Homes Act of 2024
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Summary
The Homes Act of 2024 establishes an independent Housing Development Authority within HUD to acquire, rehabilitate, and maintain distressed real estate properties as permanently affordable social housing. The Authority would develop housing owned and controlled by public entities or nonprofits, shielded from market speculation, with rents affordable to low- and moderate-income families. The bill includes provisions for community control, tenant protections, climate resilience, labor standards, and repeals the Faircloth Amendment, which currently limits public housing development.
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