Committee Advances Three Bills

Committee Advances Three Bills

WASHINGTON, D.C. – (RealEstateRama) — This week, the Financial Services Committee approved three bills, bringing the total number of bills reported out of the Committee this Congress to 102.

“These three important measures support the Committee’s continued efforts to increase housing mobility for low-income families, create opportunity for individuals recovering from opioid addiction, and improve our security review process to support U.S. foreign investment,” said Committee Chairman Jeb Hensarling (R-TX). “I want to thank all of our members for their hard work and leadership on these important bills.”

Financial Services Committee

Below is a list of the bills the committee reported favorably to the House for further consideration:

H.R. 5735, the Transitional Housing for Recovery in Viable Environments Demonstration Program Act

Introduced by Representative Andy Barr (R-KY), the “Transitional Housing for Recovery in Viable Environments Demonstration Program Act,” amends the United States Housing Act of 1937 to establish a demonstration program to set aside section 8 housing vouchers for supportive and transitional housing for individuals recovering from opioid use disorders or other substance use disorders.

The bill passed 39-19.

H.R. 5793, the Housing Choice Voucher Mobility Demonstration Act of 2018

Introduced by Representative Sean Duffy (R-WI), the “Housing Choice Voucher Mobility Demonstration Act of 2018” authorizes the Secretary of Housing and Urban Development to carry out a housing choice voucher mobility demonstration to encourage families receiving such voucher assistance to move to lower-poverty areas and expand access to opportunity areas.

The bill passed 54-0.

H.R. 5841, the Foreign Investment Risk Review Modernization Act of 2018

Introduced by Representative Robert Pittenger (R-NC), the “Foreign Investment Risk Review Modernization Act of 2018,” modernizes and strengthens the Committee on Foreign Investment in the United States to more effectively guard against the risk to the national security of the United States posed by certain types of foreign investment.

The bill passed 53-0.

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Financial Services Committee

The Committee oversees all components of the nation's housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities. The Committee continually reviews the laws and programs relating to the U.S. Department of Housing and Urban Development, the Federal Reserve Bank, the Federal Deposit Insurance Corporation, Fannie Mae and Freddie Mac, and international development and finance agencies such as the World Bank and the International Monetary Fund.

The Committee also ensures enforcement of housing and consumer protection laws such as the U.S. Housing Act, the Truth In Lending Act, the Housing and Community Development Act, the Fair Credit Reporting Act, the Real Estate Settlement Procedures Act, the Community Reinvestment Act, and financial privacy laws.

Contact:

House Financial Services Committee
Democratic Staff
2129 Rayburn House Office Building,
Washington, DC 20515
Phone: (202) 225-4247
Fax: (202) 225-6952 

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