119-s1527

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1527 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 1527

 To modify the multifamily loan limits under title II of the National 
 Housing Act, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 April 30, 2025

 Mr. Gallego (for himself and Mr. McCormick) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
 Housing, and Urban Affairs

_______________________________________________________________________

 A BILL

 To modify the multifamily loan limits under title II of the National 
 Housing Act, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Housing Affordability Act''.

SEC. 2. MULTIFAMILY LOAN LIMITS.

 Title II of the National Housing Act (12 U.S.C. 1707 et seq.) is 
amended--

    (1) in 

section 206A (12 U.S.C. 1712a)--
        (A) in subsection

    (a) , in the matter following 
 paragraph

    (7) , by striking ``(commencing in 2004'' and 
 all that follows through the period at the end and 
 inserting the following: ``, commencing on July 1, 
 2025. The adjustment of the Dollar Amounts shall be 
 calculated by the Secretary using the percentage change 
 in the Price Deflator Index of Multifamily Residential 
 Units Under Construction released by the Bureau of the 
 Census from March of the previous year to March of the 
 year in which the adjustment is made.''; and
        (B) by amending subsection

    (b) to read as follows:
 ``

    (b) Publication.--
 ``

    (1) In general.--The Secretary shall publish in the 
 Federal Register any adjustments made to the Dollar Amounts.
 ``

    (2) Rounding.--The dollar amount of any adjustment 
 described in paragraph

    (1) shall be rounded to the next lower 
 dollar.'';

    (2) in 

section 207
            (c) (3)
        (A) (12 U.S.C. 1713
            (c) (3)
        (A) )--
        (A) by striking ``$38,025'' and inserting 
 ``$167,310'';
        (B) by striking ``$42,120'' and inserting 
 ``$185,328'';
            (C) by striking ``$50,310'' and inserting 
 ``$221,364'';
            (D) by striking ``$62,010'' and inserting 
 ``$272,844'';
        (E) by striking ``$70,200'' and inserting 
 ``$308,880'';
        (F) by striking ``, or not to exceed $17,460 per 
 space'';
        (G) by striking ``$43,875'' and inserting 
 ``$193,050'';
        (H) by striking ``$49,140'' and inserting 
 ``$216,216'';
            (I) by striking ``$60,255'' and inserting 
 ``$265,122'';
        (J) by striking ``$75,465'' and inserting 
 ``$332,046''; and
        (K) by striking ``$85,328'' and inserting 
 ``$375,443'';

    (3) in 

section 213

    (b)

    (2) (12 U.S.C. 1715e

    (b)

    (2) )--
        (A) by striking ``$41,207'' and inserting 
 ``$181,311'';
        (B) by striking ``$47,511'' and inserting 
 ``$209,048'';
            (C) by striking ``$57,300'' and inserting 
 ``$252,120'';
            (D) by striking ``$73,343'' and inserting 
 ``$322,709'';
        (E) by striking ``$81,708'' and inserting 
 ``$359,515'';
        (F) by striking ``$43,875'' and inserting 
 ``$193,050'';
        (G) by striking ``$49,710'' and inserting 
 ``$218,724'';
        (H) by striking ``$60,446'' and inserting 
 ``$265,962'';
            (I) by striking ``$78,197'' and inserting 
 ``$344,067''; and
        (J) by striking ``$85,836'' and inserting 
 ``$377,678'';

    (4) in 

section 220
            (d) (3)
        (B)
            (iii) 
            (I) (12 U.S.C. 
 1715k
            (d) (3)
        (B)
            (iii) 
            (I) )--
        (A) by striking ``$38,025'' and inserting 
 ``$167,310'';
        (B) by striking ``$42,120'' and inserting 
 ``$185,328'';
            (C) by striking ``$50,310'' and inserting 
 ``$221,364'';
            (D) by striking ``$62,010'' and inserting 
 ``$272,844'';
        (E) by striking ``$70,200'' and inserting 
 ``$308,880'';
        (F) by striking ``$43,875'' and inserting 
 ``$193,050'';
        (G) by striking ``$49,140'' and inserting 
 ``$216,216'';
        (H) by striking ``$60,255'' and inserting 
 ``$265,122'';
            (I) by striking ``$75,465'' and inserting 
 ``$332,046''; and
        (J) by striking ``$85,328'' and inserting 
 ``$375,443'';

    (5) in 

section 221
            (d) (4)
            (ii) 
            (I) (12 U.S.C. 
 1715l
            (d) (4)
            (ii) 
            (I) )--
        (A) by striking ``$37,843'' and inserting 
 ``$166,509'';
        (B) by striking ``$42,954'' and inserting 
 ``$188,997'';
            (C) by striking ``$51,920'' and inserting 
 ``$228,448'';
            (D) by striking ``$65,169'' and inserting 
 ``$286,744'';
        (E) by striking ``$73,846'' and inserting 
 ``$324,922'';
        (F) by striking ``$40,876'' and inserting 
 ``$179,854'';
        (G) by striking ``$46,859'' and inserting 
 ``$206,180'';
        (H) by striking ``$56,979'' and inserting 
 ``$250,708'';
            (I) by striking ``$73,710'' and inserting 
 ``$324,324''; and
        (J) by striking ``$80,913'' and inserting 
 ``$356,017'';

    (6) in 

section 231
            (c) (2)
        (A) (12 U.S.C. 1715v
            (c) (2)
        (A) )--
        (A) by striking ``$35,978'' and inserting 
 ``$166,509'';
        (B) by striking ``$40,220'' and inserting 
 ``$188,997'';
            (C) by striking ``$48,029'' and inserting 
 ``$228,448'';
            (D) by striking ``$57,798'' and inserting 
 ``$286,744'';
        (E) by striking ``$67,950'' and inserting 
 ``$324,922'';
        (F) by striking ``$40,876'' and inserting 
 ``$179,854'';
        (G) by striking ``$46,859'' and inserting 
 ``$206,180'';
        (H) by striking ``$56,979'' and inserting 
 ``$250,708'';
            (I) by striking ``$73,710'' and inserting 
 ``$324,324''; and
        (J) by striking ``$80,913'' and inserting 
 ``$356,017''; and

    (7) in 

section 234

    (e)

    (3)
        (A) (12 U.S.C. 1715y

    (e)

    (3)
        (A) )--
        (A) by striking ``$42,048'' and inserting 
 ``$185,011'';
        (B) by striking ``$48,481'' and inserting 
 ``$213,316'';
            (C) by striking ``$58,469'' and inserting 
 ``$257,263'';
            (D) by striking ``$74,840'' and inserting 
 ``$329,296'';
        (E) by striking ``$83,375'' and inserting 
 ``$366,850'';
        (F) by striking ``$44,250'' and inserting 
 ``$194,700'';
        (G) by striking ``$50,724'' and inserting 
 ``$223,186'';
        (H) by striking ``$61,680'' and inserting 
 ``$271,392'';
            (I) by striking ``$79,793'' and inserting 
 ``$351,089''; and
        (J) by striking ``$87,588'' and inserting 
 ``$385,387''.
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