A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Bulletin 2015-02 re: Section 8 housing choice voucher homeownership program".
Housing Vouchers: Protecting Homeownership Guidance
This bill is currently in the early stages of the legislative process. It was introduced in the Senate and sent to the Committee on Banking, Housing, and Urban Affairs for review. No further actions are scheduled at this time.
Legislative Progress
This is a challenge to a specific agency rule. These resolutions usually fail unless there is a major political shift or broad bipartisan agreement to stop the agency.
Key Points
- This resolution aims to stop a government agency from canceling guidance that helps people use housing vouchers to buy homes. The Consumer Financial Protection Bureau recently moved to withdraw a 2015 document that explains how this program works.
- The Section 8 homeownership program allows low-income families to put their federal housing assistance toward a mortgage instead of just paying rent. This resolution seeks to keep the existing rules in place so families and banks have clear instructions.
- If passed, the agency's attempt to remove the 2015 rules would be voided. This would ensure that the current standards for these home loans remain active and enforceable.
Impact Analysis
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Milestones
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
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Source Information
Document Type
Congressional Bill
Official Title
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Bulletin 2015-02 re: Section 8 housing choice voucher homeownership program".
Data Sources
Sponsor
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