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As part of the
Transportation, Treasury, Housing, Urban Development,
The Judiciary, District of Columbia, and Independent Agencies Appropriations Act
for Fiscal Year 2006, H.R. 3058, I secured $600,000 to support
infrastructure development and affordable housing construction in conjunction
with the East Baltimore Development Initiative.
- I am a co-sponsor of the Renewing the Dream Tax Credit Act, H.R. 1549,
which would allow homebuilders and investors to claim a general business tax
credit for building or substantially rehabilitating residences in areas of
chronic economic distress intended for low-income and moderate-income
households. (This legislation awaits consideration by the House Committee on
Ways and Means.)
- I am a co-sponsor of the Predatory Mortgage Lending Practices Reduction Act,
H.R. 1994, which would require persons providing mortgage lending or
brokerage services in conjunction with the origination of a sub-prime loan to
complete adequate training regarding the administration of sub-prime loans.
Importantly, this legislation would also prohibit practices meant to deceive
those obtaining federally related sub-prime loans. Further, the legislation
would make binding arbitration clauses – which are frequently included in
consumer contracts – unenforceable. (This legislation awaits consideration
by the House Committee on Financial Services.)
- I am a co-sponsor of the Housing Preservation Matching Grant Act of 2005,
H.R. 2636, which would authorize the Secretary of the Department of Housing
and Urban Development to establish a matching grant program to fund state
efforts to preserve low-income housing, including Section 8 housing. (This
legislation awaits consideration by the House Committee on Financial Services.)
- I authored H.R. 4027, which would have established a six-month moratorium
on loans or credits secured by residential or commercial properties located in
areas declared major disaster areas after Hurricane Katrina and Hurricane Rita
devastated the Gulf Coast region. This bill would have prohibited loans from
being found in default during the moratorium period.
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