Contact:  Michael Stoops, (202) 462-4822, info@nationalhomeless.org   

National Housing Trust Fund Legislation Released

Washington, DC- Today, Representative Barney Frank (D-MA), chairman of the House Financial Services Committee, introduced the National Affordable Housing Trust Fund Act of 2007 (H.R. 2895). The bill establishes a National Housing Trust Fund reserving funds for the production, rehabilitation and preservation of 1.5 million affordable housing units for low and very-low income people, stipulating that at least 75% of funds provided go to extremely low-income households (earning below 30% of median income).

 The bill, introduced with strong bipartisan support, was released with Representative Maxine Waters (D-CA), Chairman of the Subcommittee on Housing and Community Opportunity and Jim Ramstad (R-MN), and other members of Congress. The National Affordable Housing Trust Fund will be financed by the proposed legislation H.R. 1427, the GSE Affordable Housing Fund, savings from the Federal Housing Administration resulting from the enactment of H.R. 1852, the Expanding American Homeownership Act, and any additional sources of funding to be designated to the Trust Fund.   

The National Coalition for the Homeless, the oldest national group dedicated to preventing and ending homelessness, strongly believes that each member of society, including people experiencing homelessness, has a right to decent, accessible, affordable, and permanent housing. It is society’s responsibility to provide such housing for those who can not secure it through their own means.

The passage of the National Affordable Housing Trust Fund Act of 2007 is an integral part in the assurance of affordable housing to all low-income individuals and the end of the affordable housing crisis in the Unites States.
NCH is proud of the role we played in envisioning a national affordable housing trust fund and setting its fundamental principles. We are pleased that our Community Housing Investment Trust proposal of nearly a decade ago has evolved into the National Affordable Housing Trust Fund Act of today. We look forward to working with Representative Frank and his staff to ensure the bill’s passage.

For more information on the National Affordable Housing Trust Fund Act of 2007 please visit NCH’s website www.nationalhomeless.org or the National Housing Trust Fund Campaign at www.nhtf.org.

To download the bill. please click here.