Bills · S 1439
IN COMMITTEE· 119TH CONGRESS
Senate BillS 1439Finance and Financial Sector
Federal Home Loan Banks' Mission Activities Act
INTRO APR 10· LAST ACTION APR 10
READING
9MIN
COSPONSORS
0
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it could lead to a significant boost in affordable housing and economic development, especially in areas that often struggle to get financing. By allowing Federal Home Loan Banks to offer grants and increasing their required contributions to affordable housing programs, more money can flow into building and renovating homes, supporting small businesses, and aiding farmers. If this bill passes, communities, particularly those that are underserved, could see tangible improvements like new affordable homes, more local job opportunities, and stronger local economies.
Without this bill, the current level of support for affordable housing and community development through FHLBs would likely remain the same, potentially leaving many communities with fewer resources to address their pressing needs. It helps ensure that these large financial institutions are more directly accountable to their mission of supporting local economies and housing, potentially closing financing gaps that traditional lenders might overlook.
KEY PROVISIONS
5AI-extractedPROVISION 01
Expands the definition of 'community financial institution' to explicitly include credit unions and certified community development financial institutions (CDFIs).
This allows more local, community-focused lenders to access support and funding from the Federal Home Loan Banks.
PROVISION 02
Authorizes Federal Home Loan Banks to provide grants, in addition to subsidized advances, for their Affordable Housing Program (AHP).
This gives FHLBs more flexibility to fund affordable housing projects, potentially making them more accessible and impactful.
PROVISION 03
Increases the mandatory contribution to the Affordable Housing Program (AHP) to a minimum of $200,000,000 annually or 30% of the preceding year's net income, whichever is greater, starting in 2025.
This ensures a substantial and increased funding stream for affordable housing initiatives across the country.
PROVISION 04
Allows FHLBs to allocate up to 15% of their AHP contribution for non-competitive grants, subsidized loans, or investments for affordable housing or community economic needs outside the main AHP structure.
This provides FHLBs with greater discretion to address specific local housing and community development needs more directly and flexibly.
PROVISION 05
Requires aligning executive compensation at Federal Home Loan Banks with their mission achievements.
This aims to incentivize FHLB leadership to prioritize and effectively implement the banks' community support goals.
SPONSORSHIP
1 + 0
D· Nevada
YRS IN OFFICE
9
BILLS LED
122
ACTION TIMELINE
2 EVENTSAPR 10
Introduced in Senate
APR 10
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
BILL INFO
TypeSenate Bill
NumberS 1439
Congress119th
StatusIn Committee
IntroducedApr 10, 2025
Last actionApr 10, 2025
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IN COMMITTEE· 119TH CONGRESS · BANKING, HOUSING, AND URBAN AFFAIRS COMMITTEE · INTRODUCED APR 10, 2025
Senate BillS 1439Finance and Financial Sector
Federal Home Loan Banks' Mission Activities Act
INTRODUCED APR 10, 2025· LAST ACTION APR 10, 2025
PASSAGE CHANCES
—%
READING
9 min
COSPONSORS
0
COMPLEXITY
Moderate
