Maddy summaryThe Preserving Homes and Communities Act of 2024 establishes new rules for selling non-performing single-family mortgage loans insured by the Federal Housing Administration (FHA) and sold by Fannie Mae and Freddie Mac. The bill requires that such loans can only be sold after exhausting loss mitigation options, with priority given to government entities, nonprofits, and community organizations focused on affordable housing. It mandates that purchasers offer loss mitigation options at least as favorable as current FHA guidelines, prohibits certain sale practices like contract for deed sales to non-profits, and requires that 75% of properties acquired through foreclosure must be sold to owner-occupants or used for affordable housing for 10 years. The bill also includes detailed data reporting requirements to track outcomes and prevent discriminatory practices, with semi-annual reports to Congress on loan sales and their impact on communities.
Sponsored bills
Maddy summaryThe MRRRI Act establishes a federal initiative to protect and restore the ecological health of the Mississippi River Corridor, which flows through 10 states and supports over 55 million people. It creates a Mississippi River National Program Office within the Environmental Protection Agency to coordinate restoration efforts, develop actionable goals, and implement projects focused on water quality improvement, flood risk reduction, wildlife habitat restoration, invasive species prevention, and community resilience. The act requires at least 25% of funding to support projects addressing disproportionate effects on economically disadvantaged communities and communities of color, and mandates coordination with federal agencies, states, tribes, and local entities. It also establishes Mississippi River Corridor Research Centers to conduct scientific studies and develop a science plan to guide restoration efforts.
Maddy summaryS 3753 (Improving State and Local Government Access to Performance Contracting Act of 2024) provides federal funding to help states develop or expand programs that enable state/local governments, public schools, and other public entities to use energy and water efficiency projects paid for by future savings. The bill allocates $35 million annually to states to create model contracts, prequalify contractors, and offer technical assistance, while requiring states to primarily use private financing and supplement - not replace - existing funds. It also establishes a national certification program for project facilitators to oversee these efficiency projects and ensure they meet savings targets. This directly affects state energy agencies and local governments seeking to implement cost-saving energy/water upgrades without upfront costs.
Maddy summaryThis bill allows Medicare beneficiaries to authorize family caregivers to access their personal health information through Medicare's 1-800-MEDICARE line by completing a specific form (CMS-10106). It directly affects Medicare beneficiaries (enrolled in Part A, Part B, or Medicare Advantage plans) and their family caregivers. Key provisions require Medicare to provide clear outreach via websites, notices, and call center training, include the authorization form prominently, and share fraud protection best practices. The bill also mandates multilingual access and feedback opportunities for caregivers, without changing Medicare benefits or costs.
Maddy summarySRES 544 designates the week beginning February 5, 2024, as "National Tribal Colleges and Universities Week." The resolution recognizes Tribal Colleges and Universities (TCUs) for serving over 230 federally recognized tribes, preserving indigenous languages and cultural traditions, and providing accessible education in economically isolated areas. It calls on the public and organizations to observe the week with activities supporting TCUs, which offer open-enrollment higher education to American Indian, Alaska Native, and other students. This is a symbolic recognition resolution with no direct policy or funding changes.
Maddy summaryThis bill changes how donations of property that has increased in value are taxed when given to certain organizations. It removes a distinction in the tax code that previously treated transfers to political organizations differently from transfers to other tax-exempt groups like charities. Now, donors giving such appreciated property to organizations under Section 501(c) (e.g., charities) or Section 527 (political groups) will face the same tax rules. The change applies to donations made after the bill becomes law. It affects donors and these specific types of tax-exempt organizations.
Maddy summarySRES 529 is a symbolic Senate resolution recognizing January 2024 as "National Mentoring Month." It does not create new laws or allocate funds, but formally acknowledges the value of mentoring relationships for youth development. The resolution highlights mentoring's benefits - including improved academic outcomes, mental health, and career readiness - while noting that one-third of U.S. youth lack a mentor. It urges support for mentoring programs but has no direct effect on individuals or policy implementation.
Maddy summaryS 3720, the Preserving Pathways to Homeownership Act of 2024, requires states to implement consumer protections for land installment contracts - where buyers pay for a home in installments while the seller retains title until full payment. The bill mandates that sellers record these contracts within 5 days of signing to protect buyers' interests from other creditors, gives buyers the right to cancel and get refunds if contracts aren't recorded, and prohibits sellers from using forfeiture clauses to take equity after payments. It directly affects homebuyers in these contracts and sellers who offer them, particularly in regions with inconsistent state rules. The law sets a two-year deadline for states to adopt these rules, with federal oversight if states fail to comply.
Maddy summaryThis bill creates a new oversight structure for for-profit colleges (proprietary institutions of higher education) by establishing a Proprietary Education Interagency Oversight Committee composed of federal agency heads and a Proprietary Education Oversight Advisory Committee with diverse stakeholder representation. It requires a centralized complaint system for students to report issues with these institutions, an annual report containing detailed data on enrollment, finances, student outcomes, and enforcement actions, and a public "For-Profit College Warning List" identifying institutions with serious problems like fraud, lawsuits, or eligibility issues. The bill directly affects for-profit colleges that receive federal education assistance, students attending these institutions, and multiple federal agencies responsible for oversight. These provisions aim to increase transparency, accountability, and consumer protection in the for-profit higher education sector.
Maddy summaryS 2669 requires digital asset service providers - including unhosted wallet providers, validators, miners, and digital asset kiosks (crypto ATMs) - to register with the Financial Crimes Enforcement Network (FinCEN) and verify customer identities. It mandates that entities handling anonymity-enhancing tools (like mixers that obscure transactions) implement anti-money laundering controls and report holdings over $10,000 abroad. The bill sets deadlines for implementing these rules: registration within 180 days, identity verification for kiosks within 18 months, and reporting requirements within 18 months of enactment. These provisions directly affect crypto businesses, wallet services, and kiosks operating in the U.S., aiming to reduce illicit finance risks in digital asset transactions.