First-Time Homebuyer Affordability Act Introduced in House to Boost Housing Access
Representatives Darin LaHood, Jimmy Panetta, Blake Moore, and Tom Suozzi have introduced the First-Time Homebuyer Affordability Act in the House of Representatives. The bill aims to amend the Internal Revenue Code to exempt qualified mortgage bonds from the private activity bond volume cap. Currently, these bonds compete with other private activity bonds for limited volume cap allocation. By exempting them, the bill seeks to enhance the ability of state and local housing finance agencies to issue mortgage bonds, thereby supporting more first-time homebuyers without depleting cap resources. 
