HR 702 United States House · 118th Congress

HOME Act of 2023

The HOME Act of 2023 prohibits landlords and sellers from charging "unconscionably high" prices for rental or single-family homes during declared housing emergencies. The President can issue emergency declarations (up to 30 days, renewable) to trigger this rule, with prices deemed excessive if they far exceed pre-emergency rates or comparable market prices. Violations would be enforced by HUD and state attorneys general, with penalties funding affordable housing programs via the Housing Trust Fund. The bill also mandates HUD to investigate market manipulation and monitor large investor purchases exceeding specific thresholds.

Issues: ✓ Housing

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2023

Committee Review

Floor Vote

President

Introduced Feb 1, 2023 Last action Feb 1, 2023

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Committee

Feb 1, 2023

Committee

Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

lower

Feb 1, 2023

Introduced

Introduced in House

lower

1 primary · 10 co-sponsors