REP. BACA INTRODUCES BILL TO FUND AFFORDABLE HOUSING
Rep. Joe Baca, D-Calif., on Tuesday introduced H.R. 4144, the Strengthening Economic Development Through Affordable Housing Act. H.R. 4144 makes community housing development organizations eligible to receive direct funding from the State Small Business Credit Initiative (SBCI) funds for affordable housing development. The SBCI would provide not-for-profit agencies and community development corporations (CDCs) with access to funds necessary to improve blighted areas and spur economic development. The act amends Section 3003 of the State Small Business Credit Initiative Act of 2010. The bill was referred to the House Committee on Financial Services.