Maddy summaryThe Housing Crisis Response Act of 2023 authorizes over $100 billion in funding for housing programs, including $10 billion for public housing capital improvements, $9.9 billion for the HOME Investment Partnerships Program, and $1.77 billion for energy efficiency improvements in affordable housing. It creates new down payment assistance programs for first-time and first-generation homebuyers, expands housing vouchers for vulnerable populations including those experiencing homelessness, and establishes new requirements for accessible housing units. The bill mandates that many housing projects maintain affordability for at least 20 years and includes specific provisions for rural housing, Native American communities, and lead-based paint hazard control. It also creates a new Housing Investment Fund to support affordable housing development and preservation, primarily for low-, very-low, and extremely low-income renters.
Sponsored bills
Maddy summaryThe Downpayment Toward Equity Act of 2023 creates a federal program to provide down payment assistance to first-generation homebuyers, defined as individuals whose parents did not own a home. The program would provide grants to states (75% of funds) and eligible entities (25% on competitive basis) to help cover down payments, closing costs, and mortgage interest reductions, with maximum assistance of $20,000 or 10% of purchase price. To qualify, homebuyers must have household income up to 120-140% of median area income, be first-time homebuyers, and meet the "first-generation" definition. States must comply with fair housing requirements, and recipients must repay assistance if they don't occupy the home as their primary residence within five years, with exceptions for hardship.
Maddy summaryThis bill establishes the John Lewis Civil Rights Fellowship Program within the Fulbright exchange system to honor civil rights leader John Lewis and advance U.S. foreign policy through global civil rights education. It creates a new fellowship for U.S. early- to mid-career professionals, selecting at least 25 annually for 10-month programs to conduct research or intern with approved organizations in countries participating in Fulbright exchanges. Fellows must complete a work plan, attend an orientation in Washington, DC, and present findings at an annual summit, with the State Department covering costs for travel, lodging, and expenses. The program requires annual reports on participant demographics and program effectiveness, and expires seven years after enactment.
Maddy summaryThe Equality Act (HR 15) would amend federal civil rights laws to explicitly prohibit discrimination based on sexual orientation and gender identity in public accommodations, housing, employment, credit, and jury service. It amends the Civil Rights Act of 1964 to include sexual orientation and gender identity as protected characteristics under existing sex discrimination provisions. The bill would require businesses, housing providers, employers, and government entities to provide equal access and services without regard to a person's sexual orientation or gender identity. It includes specific definitions for gender identity and sexual orientation to clarify protections across all covered areas. The law would apply to all entities covered by the Civil Rights Act of 1964, including those receiving federal funding.
Maddy summaryThis symbolic House Resolution (HRES 526) reaffirms U.S. commitment to refugee safety and well-being, introduced around World Refugee Day (June 20, 2023). It cites UNHCR data showing over 108 million displaced people globally and highlights historically low U.S. refugee admissions (11,411 in FY2021, 25,465 in FY2022). The resolution calls on U.S. officials to restore asylum protections, meet robust refugee admissions goals, support host countries, and advance refugee rights through international partnerships. It does not create new law but expresses bipartisan support for strengthening U.S. leadership in refugee protection.
Maddy summaryThis bill exempts community banks (defined as institutions with under $5 billion in assets) from special assessments the FDIC must charge to recoup losses from using its "systemic risk exception" following the 2023 failures of Silicon Valley Bank and Signature Bank. It amends the FDIC Act to require the FDIC to fully exempt these smaller banks, while creating a graduated system where larger banks ($50 billion+ in assets) pay a significantly larger share of the assessment. The bill directly affects rural banks, community development financial institutions, and minority depository institutions that did not contribute to the recent banking failures. It focuses solely on adjusting how the FDIC recoups costs from the systemic risk exception, not on preventing future bank failures.
Maddy summaryHR 4209, the Incentivizing Safe and Sound Banking Act, prohibits senior executives at large banks from selling securities they received as compensation if the bank faces regulatory issues. It directly affects senior executives at bank holding companies, bank subsidiaries, or banks with over $50 billion in assets that receive a poor regulatory rating (3-5) or fail to resolve issues noted by regulators within a deadline. The bill automatically blocks such stock sales until the bank fixes the problem to the regulator's satisfaction. This provision aims to align executive compensation with bank stability by preventing sales during periods of regulatory concern. The law amends the Federal Deposit Insurance Act to implement these restrictions.
Maddy summaryThis bill requires large standalone banks (those without a parent bank holding company) to follow the same enhanced supervision and prudential standards as bank holding companies with similar asset sizes. It amends the Financial Stability Act of 2010 to close a regulatory gap where these standalone banks previously faced fewer oversight requirements. The key mechanism mandates that banks with total consolidated assets comparable to covered bank holding companies must undergo identical stress testing, capital planning, and risk management processes. This directly affects large, independent banks that operate without a parent financial holding company but have significant assets.
Maddy summaryThis bill requires financial regulators to reclaim compensation from bank executives and directors whose negligence caused a bank's failure. It allows the FDIC to claw back salaries, bonuses, and other compensation received in the two years before the bank failed (with no time limit for fraud), and imposes fines of up to $25,000 per day for negligent conduct. Executives found responsible for a bank's failure may also face orders prohibiting them from working in any insured bank. The law directly affects executives and directors of failed institutions like Silicon Valley Bank, Signature Bank, and First Republic Bank. It amends the Federal Deposit Insurance Act and Dodd-Frank Act to strengthen accountability mechanisms without limiting existing regulatory powers.
Multiple Firearm Sales Reporting Modernization Act of 2023 This bill expands reporting requirements with respect to sales or dispositions of multiple firearms. Currently, a federal firearms licensee (e.g., a gun dealer) must report multiple sales or dispositions of pistols or revolvers to the same person within five business days. This bill requires a federal firearms licensee to report multiple sales or dispositions of any firearms to the same person within five business days.