Establish a national Housing Development Authority to acquire and develop real estate to create and maintain a stock of permanent, sustainable, affordable housing, including single- and multi-family housing, with robust tenant protections.
Create a national Housing Development Authority to acquire and develop real estate and maintain a permanent stock of sustainable, affordable housing, including single- and multi-family housing with robust tenant protections.
Occurrences
Evidence
Smith's Senate office announced that she and Rep. Ocasio-Cortez unveiled the Homes Act. The release describes the bill as creating a national Housing Development Authority to acquire and develop real estate, maintain permanent sustainable affordable single- and multi-family housing, and add tenant protections.
Congress.gov lists S.5078 with Sen. Tina Smith as sponsor, status 'Introduced,' and the only Senate action as referral to the Banking, Housing, and Urban Affairs Committee on September 18, 2024.
The introduced bill text would establish an independent Housing Development Authority within HUD, allow property to be acquired in perpetuity, and authorize acquisition, operation, maintenance, rehabilitation, financing, and construction of real property for affordable housing purposes.
Section 7 of S.5078 sets affordability and tenant-protection rules, including income set-asides, rent based on household income with capped increases, just-cause eviction limits, source-of-income protections, tenant organization rights, and grievance procedures.
The House companion, H.R.9662, was introduced on September 18, 2024, referred to the House Committee on Financial Services, and listed by Congress.gov with status 'Introduced.'
Assessments
Tina Smith materially pursued this promise by sponsoring the Homes Act of 2024, which closely matched the pledged policy: it would have created a national Housing Development Authority, empowered it to acquire and develop housing, preserve permanent affordable stock, and impose strong tenant protections. But the Senate bill S.5078 and House companion H.R.9662 were only introduced and referred to committee in September 2024, with no evidence of passage or enactment. Under a federal legislative standard, introducing a closely aligned bill shows serious effort, but because the promised authority was not actually created, the promise was not delivered.