,i #aafth ,,congress #ast ,session ,h4 ,r4 #dihd ,,in ,,the ,,house ,,of ,,representatives ,november #e1 #bjai,ms4 ,clarke of ,new ,york 7for herself1 ,ms4 ,meng1 ,mr4 ,danny ,k4 ,davis of ,illinois1 ,mr4 ,serrano1 ,ms4 ,norton1 ,mr4 ,nadler1 and ,mr4 ,espaillat7 introduced the following bill2 which was referred to the ,committee on ,financial ,services1 and in addition to the ,committee on ,ways and ,means1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to increase the supply of1 and lower rents for1 affordable housing and to adjust calculations of area median income for purposes of ,federal low-income housing assistance1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,affordable ,housing and ,area ,median ,income ,fairness ,act of #bjai4 #b4 ,area median income fairness ,subparagraph 7,d7 of section #c7;b77#b7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;a7b77#b77;,d77 is amended-- 7#a7 in the second sentence1 by inserting 7in this subparagraph referred to as the covered jurisdictions7 before the fifth comma2 7#b7 in the third sentence-- 7,a7 by striking ,westchester or ,rockland ,counties and inserting the covered jurisdictions2 and 7,b7 by striking included ,westchester and ,rockland ,counties and inserting does not include the covered jurisdictions2 and 7#c7 in the fourth sentence1 by striking include ,westchester and ,rockland ,counties1 ,new ,york1 in and inserting exclude the covered jurisdictions from4 #c4 ,high housing cost adjustment fairness ,subparagraph 7,d7 of section #c7;b77#b7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;a7b77#b77;,d771 as amended by the preceding provisions of this ,act1 is further amended by adding at the end the following3 ,for purposes of the low-income housing tax credit program under section #db of the ,internal ,revenue ,code of #aihf and the exempt facilities bond program under section #adb of such ,code1 the ,secretary may not apply1 for any city1 county1 and other such jurisdiction1 for the purposes of calculating the area median income or any related metric1 in the instances where it is used to derive the income limits or rent amounts for such programs for a given area1 a high housing cost adjustment1 unless such jurisdiction petitions the ,secretary to apply such adjustment to such city1 county1 or other such jurisdiction4 ,the ,secretary shall review and grant such petitions made by any legal and proper authority within the relevant jurisdiction1 including petitions enacted by popular referendum4 ,the preceding two sentences may not be construed to affect housing vouchers under section #h or to carry out any other purpose than those specifically stated in such sentences44 #d4 ,low-income housing tax credit disclosures 7a7 ,in general ,section #db of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new subsection3 7o7 ,annual reporting ,no credit shall be allowed under subsection 7a7 with respect to a qualified low-income building for a taxable year unless the following information is submitted 7in such manner and at such time as the ,secretary requires7 to the relevant housing credit agency3 7#a7 ,all expenditures after the date of the allocation under subsection 7h7 that substantially affect the basis of such building4 7#b7 ,the projected rents of the affordable units in such building during the #e-year period following such submission4 7#c7 ,the annual profits attributable to such building4 7#d7 ,the annual expenditures attributable to tax credit syndication4 7#e7 ,any other information required by the ,secretary that is reasonably necessary to determine program compliance4 4 7b7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after the date of the enactment of this ,act4 #e4 ,urgent support for affordable housing infrastructure 7a7 ,home ,investment partnerships program 7#a7 ,authorization of appropriations ,there is authorized to be appropriated to carry out title ,,ii of the ,cranston-,gonzalez ,national ,affordable ,housing ,act 7#db ,u4,s4,c4 #agba et seq47 #b1ejj1jjj1jjj for each of fiscal years #bjbj through #bjbi4 7#b7 ,limitation ,any amounts appropriated pursuant to paragraph 7#a7 shall be used only for assistance for any area within a participating jurisdiction for which the ,secretary has applied1 or would have applied prior to the enactment of this ,act1 a high housing cost adjustment4 7b7 ,community development block grants 7#a7 ,authorization of appropriations ,there is authorized to be appropriated for community development block grant assistance under section #ajf of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecjf7 #b1ejj1jjj1jjj for each of fiscal years #bjbj through #bjbi4 7#b7 ,limitation ,any amounts appropriated pursuant to paragraph 7#a7 shall be used only for assistance for any area within a metropolitan city or urban county for which the ,secretary has applied1 or would have applied prior to the enactment of this ,act1 a high housing cost adjustment4 7c7 ,housing ,trust ,fund 7#a7 ,authorization of appropriations ,there is authorized to be appropriated to the ,housing ,trust ,fund established under section #acch7;a7 of the ,federal ,housing ,enterprises ,financial ,safety and ,soundness ,act of #aiib 7#ab ,u4,s4,c4 #defh7;a77 #b1ejj1jjj1jjj for each of fiscal years #bjbj through #bjbi4 7#b7 ,limitation ,any amounts appropriated pursuant to paragraph 7#a7 shall be used only for assistance to be used within any area within a unit of general local government for which the ,secretary has applied1 or would have applied prior to the enactment of this ,act1 a high housing cost adjustment4 #f4 ,assessment regarding optimizing use of area median income to support affordable housing in urban areas 7a7 ,assessment of alternative calculation methods ,not later than #ahj days after the date of the enactment of this ,act1 the ,secretary shall commence an assessment of alternative methods for calculating area median income1 and the use of alternative metrics1 for programs administered by the ,secretary that would make housing more affordable for low-income families residing in urban areas nationwide1 which shall include analysis of the topics identified in subsection 7b74 7b7 ,report ,not later than two years after the date of the enactment of this ,act1 the ,secretary shall submit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate1 and make publicly available1 a report setting forth the results of the assessment conducted pursuant to subsection 7a71 which shall include-- 7#a7 a review and summarization of significant findings and recommendations from any related previous reports regarding area median income2 7#b7 an assessment of the extent and impacts of the affordable housing crisis in urban areas nationwide1 particularly within jurisdictions for which the ,secretary has applied a high housing cost adjustment2 7#c7 an analysis and assessment of the effects that high housing cost adjustments have had on income limits and rent prices in jurisdictions for which the ,secretary has applied such an adjustment2 7#d7 an assessment of the potential impacts to affordable housing1 particularly on income limits and rent prices1 of calculating area median income on a zip-code level basis and using other localized methodologies2 7#e7 assess and propose a process through which ,state housing authorities may designate area median income jurisdictions within that ,state2 7#f7 an assessment of alternative metrics to area median income for the purposes of setting income levels and related thresholds for affordable housing programs administered by the ,secretary2 7#g7 recommendations for how the ,secretary could reform or eliminate use of area median income for the purposes of making housing more affordable for low-income and middle class families in urban areas2 and 7#h7 any further recommendations for how the ,secretary could make housing more affordable for low-income and middle class families in urban areas4 7c7 ,methodology ,not later than #ij days after the date of the enactment of this ,act1 the ,secretary shall submit a report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate describing the methodology that will be used to conduct the assessment under this section4 #g4 ,definitions ,for purposes of this ,act1 the following definitions shall apply3 7#a7 ,area median income ,the term area median income means median income for an area1 as such term is used in section #c7;b7 of the ,united ,states ,housing ,act of #aicg 7#db ,u4,s4,c4 #adcg;a7b771 median family income1 and any other substantively similar metric that the ,secretary uses to refer to the median income level for a given area or jurisdiction for purposes of any program administered by the ,secretary4 7#b7 ,high housing cost adjustment ,the term high housing cost adjustment means an adjustment for high housing costs or high construction costs1 or any substantively similar adjustment that the ,secretary may use to increase income limits for areas where the cost of housing is abnormally high compared to the median income for such area1 for purposes of any program administered by the ,secretary4 7#c7 ,secretary ,the term ,secretary means the ,secretary of ,housing and ,urban ,development4