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Code · BILL · 119th Congress · H.R. 6337 (Introduced in House) — To increase the supply of affordable housing in America. · Sec. 213

Sec. 213. Housing Affordability Act

965 words·~4 min read·/bill/119/hr/6337/ih/section-213

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The Commissioner of the Federal Housing Administration, in consultation with the Secretary of the Department of Housing and Urban Development, shall conduct a study to assess— whether current multifamily loan limits for each multifamily mortgage insurance program are set at appropriate amounts, including to cover the cost of land and construction; whether the Commissioner has sufficient authority to set loan limits for each multifamily mortgage insurance program at appropriate amounts, including to cover the cost of land and construction; and the potential impacts of altering the calculation of annual adjustments under section 206A of the National Housing Act ( 12 U.S.C. 1712a ) using the percentage change in the Consumer Price Index for All Urban Consumers to instead use 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, or a combination thereof, including— the impact on the General Insurance and Special Risk Insurance Fund; the availability of multifamily purchase and construction lending; the impact on prices, including rental prices, within the multifamily housing market; and the impact on housing supply.
The Commissioner of the Federal Housing Administration shall submit a report to Congress within 180 days of enactment of this Act summarizing its findings under the study in subsection (a). The Secretary of Housing and Urban Development may, in consultation with the Commissioner of the Federal Housing Administration, conduct notice and comment rulemaking to increase multifamily loan limits in a manner that would not exceed the following: With respect to insurance under section 207 of the National Housing Act ( 12 U.S.C. 1713 )— for projects that do not consist of elevator-type structures— $83,655 per family unit without a bedroom; $92,664 per family unit with one bedroom; $110,682 per family unit with two bedrooms; $136,422 per family unit with three bedrooms; and $154,440 per family unit with four or more bedrooms; and for projects that consist of elevator-type structures— $96,525 per family unit without a bedroom; $108,108 per family unit with one bedroom; $132,561 per family unit with two bedrooms; $166,023 per family unit with three bedrooms; and $187,721.50 per family unit with four or more bedrooms.
With respect to insurance under section 213 of the National Housing Act ( 12 U.S.C. 1715e )— for projects that do not consist of elevator-type structures— $90,665.50 per family unit without a bedroom; $104,524 per family unit with one bedroom; $126,060 per family unit with two bedrooms; $161,354.50 per family unit with three bedrooms; and $179,757.50 per family unit with four or more bedrooms; and for projects that consist of elevator-type structures— $96,525 per family unit without a bedroom; $109,362 per family unit with one bedroom; $132,981 per family unit with two bedrooms; $172,033.50 per family unit with three bedrooms; and $188,839 per family unit with four or more bedrooms.
With respect to insurance under section 220 of the National Housing Act ( 12 U.S.C. 1715k )— for projects that do not consist of elevator-type structures— $83,655 per family unit without a bedroom; $92,664 per family unit with one bedroom; $110,682 per family unit with two bedrooms; $136,422 per family unit with three bedrooms; and $154,440 per family unit with four or more bedrooms; and for projects that consist of elevator-type structures— $96,525 per family unit without a bedroom; $108,108 per family unit with one bedroom; $132,561 per family unit with two bedrooms; $161,023 per family unit with three bedrooms; and $187,721.50 per family unit with four or more bedrooms.
With respect to insurance under section 221 of the National Housing Act ( 12 U.S.C. 1715l )— for projects that do not consist of elevator-type structures— $83,254.50 per family unit without a bedroom; $94,498.50 per family unit with one bedroom; $114,224 per family unit with two bedrooms; $143,372 per family unit with three bedrooms; and $162,461 per family unit with four or more bedrooms; and for projects that consist of elevator-type structures— $89,927 per family unit without a bedroom; $103,090 per family unit with one bedroom; $125,354 per family unit with two bedrooms; $162,162 per family unit with three bedrooms; and $178,008.50 per family unit with four or more bedrooms.
With respect to insurance under section 231 of the National Housing Act ( 12 U.S.C. 1715v )— for projects that do not consist of elevator-type structures— $83,254.50 per family unit without a bedroom; $94,498.50 per family unit with one bedroom; $114,224 per family unit with two bedrooms; $143,372 per family unit with three bedrooms; and $162,461 per family unit with four or more bedrooms; and for projects that consist of elevator-type structures— $89,927 per family unit without a bedroom; $103,090 per family unit with one bedroom; $125,354 per family unit with two bedrooms; $162,162 per family unit with three bedrooms; and $178,008.50 per family unit with four or more bedrooms.
With respect to insurance under section 234 of the National Housing Act ( 12 U.S.C. 1715y )— for projects that do not consist of elevator-type structures— $92,505.50 per family unit without a bedroom; $106,658 per family unit with one bedroom; $128,631.50 per family unit with two bedrooms; $164,648 per family unit with three bedrooms; and $183,425 per family unit with four or more bedrooms; and for projects that consist of elevator-type structures— $97,350 per family unit without a bedroom; $111,593 per family unit with one bedroom; $135,696 per family unit with two bedrooms; $175,544.50 per family unit with three bedrooms; and $192,693.50 per family unit with four or more bedrooms.
Nothing in this section or the amendment made by this section shall be construed to limit the authority of the Secretary of Housing and Urban Development to revise the statutory exceptions for high-cost percentage and high-cost areas annual indexing.
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Citation graph
cites case law
Sec. 213
Housing Affordability Act
U.S.C.§ 1712a
U.S.C.§ 1713
U.S.C.§ 1715e
U.S.C.§ 1715k
U.S.C.§ 1715l
U.S.C.§ 1715v
U.S.C.§ 1715y
Cites 7Cited by 0 across 0 sources
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