Bill would raise home loan banks' affordable housing contributions

What does this do?

This bill raises the required contribution from Federal Home Loan Banks to the Affordable Housing Program from 10 percent to 15 percent of the prior year's net income. Alternatively, contributions must total at least $100 million combined across all banks each year. The change takes effect in 2026.

Who does it affect?

Federal Home Loan Banks, which fund local lenders like banks and credit unions supporting mortgages and community investment, would face the new requirement. Renters, first-time homebuyers, and communities using affordable housing programs would be affected by the funding change.

Why does it matter?

The banks would have less net income available for other purposes since a larger share is redirected to the Affordable Housing Program. This increases the funding pool available for affordable housing construction and preservation nationwide.

What does it cost, and who pays?

• Contribution rises from 10% to 15% of net income
• Combined floor of $100 million yearly
• Takes effect in 2026