Congress·In Committee·S. 1439
Sen. Cortez Masto Proposes Tripling Federal Home Loan Bank Funding for Affordable Housing
Federal Home Loan Banks' Mission Activities Act
Legislative Progress
Senate
House
President
Law
Key Points
- The bill would dramatically increase the amount Federal Home Loan Banks must spend on affordable housing and community development — from 10% to 30% of net income, with a minimum floor of $200 million per year across all banks.
From policy text
“In 2025, and subsequent years, 30 percent of the preceding year's net income, or such prorated sums as may be required to assure that the aggregate contribution of the Banks shall not be less than $200,000,000 for each such year”
View in full text - Credit unions and community development financial institutions (CDFIs) would be added to the definition of 'community financial institutions,' making it easier for them to access Federal Home Loan Bank resources for lending in underserved areas.
From policy text
“that has been certified as a community development financial institution (as defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4702)) by the Secretary of the Treasury”
View in full text - Executive compensation at Federal Home Loan Banks would be tied to mission achievements — like how much they invest in affordable housing and community lending — rather than just financial performance.
From policy text
“the Director shall, in accordance with regulations issued by the Director, establish compensation for any executive officer of a Bank that is reasonable and comparable to compensation for employment at a regional Federal Reserve Bank or other similar publicly-subsidized financial institutions”
View in full text - After a declared disaster, the bill allows empty affordable rental units to be temporarily leased to displaced families regardless of income, removing normal income-targeting rules during emergencies.
From policy text
“allow vacant rental project units assisted under the Program of a Bank to be leased temporarily to households displaced by that declared disaster regardless of income, notwithstanding the income targeting requirements”
View in full text - The Federal Housing Finance Agency Director would be required to report annually to Congress on collateral pledged to the banks, adding a new layer of transparency to the system.
From policy text
“The Director shall annually report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the collateral pledged to the Banks, including an analysis of collateral by type and by Bank district.”
View in full text
HousingEconomy FinanceAgriculture
Impact Analysis
Personal Impact
Who is affectedScoreImpactCertaintyScopeDurationSentiment
Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)
Milestones
2 milestones2 actions
Apr 10, 2025Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 10, 2025
Introduced in Senate
Source Information
Document Type
Congressional Bill
Official Title
Federal Home Loan Banks' Mission Activities Act
Bill NumberS 1439
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsor
Data Sources
Analysis generated by AI. Always verify with official sources.