WASHINGTON — The full House last Wednesday approved the National Affordable Housing Trust Fund Act of 2007 (H.R. 2895).
The bill, which would create an affordable housing fund from the government sponsored enterprise reform legislation and Federal Housing Administration reform. House Financial Services Committee Chairman Barney Frank (D-Mass.) is the primary co-sponsor behind the bill, which has 103 co-sponsors.
It passed the House 264-148; all of the nays were Republicans though some GOP members did vote in favor of the legislation.
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The bill aims to produce, rehabilitate and preserve 1.5 million housing units over the next 10 years.
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