House Subcommittee Passes Section 8 Reform Bill
February 13, 2012
Last week the Insurance and Housing Subcommittee of the House Financial Services Committee passed a the "Affordable Housing and Self-Sufficiency Improvement Act of 2012" (AHSSIA, no bill number). This bill seeks to reduce taxpayer costs within the Department of Housing and Urban Development’s Section 8 voucher program and facilitate greater private sector participation in the program. The bill includes provisions that will reduce administrative burdens and lower program costs, while increasing local flexibility. These changes (such as streamlining physical inspections; simplifying rent and income calculations; and reducing the burden of foreign language translations) will mean that more owners will want to participate in delivering affordable housing to those who need it. NAR supported this bill along with other industry partners. The bill next moves to the Full Committee for consideration later this month.