House Panel OKs 'American Dream' and HOPE Bills

Vadum, Matthew
May 2003
Bond Buyer;5/8/2003, Vol. 344 Issue 31631, p3
Trade Publication
The House Financial Services housing subcommittee easily approved two separate bills on May 8, 2003, that could have an impact on the municipal bond market. One of the bills would authorize down-payment assistance for homebuyers, while the other would keep alive a program thatthe Bush administration considers to be a financial expenditure. The panel approved both measures by voice vote. The program would operate as part of the Department of Housing and Urban Development's HOME Investment Partnerships Program, which helps to expand the supply of affordable housing for low-and very low-income families by providing grants to states and local governments. Bond financing is sometimes involved in affordable housing projects that use HOME money, and analysts have said funds provided under the proposed program could encourage bond issuance.


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