Rent and Mortgage Cancellation Act of 2021
- Last Action
- 3/11/2021
Actions
- 2021-03-11Referred to the House Committee on Financial Services.
- 2021-03-11Introduced in House
- 2021-03-11Introduced in House
CRS Summary
As of 2021-03-11 (00)
Rent and Mortgage Cancellation Act of 2021
This bill provides housing assistance during the COVID-19 public health emergency.
Specifically, the bill suspends rental and mortgage payments for primary residences through April 1, 2022. The bill also forgives rental and mortgage debt accrued from March 13, 2020, through April 1, 2022. The Department of Housing and Urban Development (HUD) must establish funds to reimburse lessors and lenders for payments suspended or forgiven under the bill.
In addition, HUD must establish an Affordable Housing Acquisition Fund to support the acquisition of multifamily housing projects by nonprofit organizations, public housing agencies, cooperative housing associations, community land trusts, and state and local governments. For a five-year period, entities that are approved for such assistance shall be provided the first right of purchase with respect to these projects.
Cosponsors (20)
- Alan Lowenthal (D-CA)
- BARBARA LEE (D-CA)
- Jamaal Bowman (D-NY)
- Mark Pocan (D-WI)
- Raúl Grijalva (D-AZ)
- Mondaire Jones (D-NY)
- Bonnie Watson Coleman (D-NJ)
- Jesus Garcia (D-IL)
- Ayanna Pressley (D-MA)
- Pramila Jayapal (D-WA)
- BENNIE THOMPSON (D-MS)
- ELEANOR NORTON (D-DC)
- NYDIA VELAZQUEZ (D-NY)
- Rashida Tlaib (D-MI)
- Yvette Clarke (D-NY)
- Adriano Espaillat (D-NY)
- Frederica Wilson (D-FL)
- JANICE SCHAKOWSKY (D-IL)
- JAMES MCGOVERN (D-MA)
- Jimmy Gomez (D-CA)
Subjects
- Business records
- Cardiovascular and respiratory health
- Child care and development
- Civil actions and liability
- Consumer credit
- Emergency medical services and trauma care
- Federal preemption
- Financial literacy
- Health care coverage and access
- Homelessness and emergency shelter
- Housing and community development funding
- Housing finance and home ownership
- Housing supply and affordability
- Infectious and parasitic diseases
- Landlord and tenant
- Residential rehabilitation and home repair
- State and local government operations
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.