PlainBillCongress, translated.Legislation. Context. Public interest.Ordered to be Reported Unfavorably (Amended) by the Yeas and Nays: 21 - 28.
Congressional Research Service
Version 00 · Introduced in House · Sep 8, 2026
This bill increases the required contributions of Federal Home Loan Banks to the Affordable Housing Program established by each bank. These programs subsidize interest rates for member banks to finance (1) mortgages for low- and moderate-income individuals; and (2) the purchase, construction, or rehabilitation of affordable rental housing.
Specifically, the bill increases the percentage of yearly net income that each Federal Home Loan Bank must contribute to these programs from 10% to 15%.
People & committees
Rep. Waters, Maxine [D-CA-43] · D–CA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Ordered to be Reported Unfavorably (Amended) by the Yeas and Nays: 21 - 28.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Sep 29, 2026. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2026-09-08 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
This bill proposes changing Federal Home Loan Bank contributions to an affordable housing program. For 2026 onward, it would set contributions at 15 percent of the previous year's net income, or proportional amounts needed to ensure the banks together contribute at least $100 million annually. The supplied text does not establish how much this would increase contributions.
1. Increased affordable housing program investment Section 10(j)(5) of the Federal Home Loan Bank Act (12 U.S.C. 1430 (j)(5)) is amended
(D) In 2026, and subsequent years, 15 percent of the preceding year's net income, or such prorated sums as may be required to assure that the aggregate contribution of the Banks shall not be less than $100,000,000 for each such year.
The proposal would limit the existing contribution provision in subparagraph (C) to 1995 through 2025. The rest of that existing provision is not reproduced, so the supplied text does not show its contribution rate.
(1) in subparagraph (C), by striking In 1995, and subsequent years, and inserting In 1995 through 2025,;
The proposed replacement rule would apply in 2026 and subsequent years, with no stated end date. It specifies 15 percent of the preceding year's net income or prorated—proportionally allocated—amounts needed to meet a combined annual minimum of $100 million across the banks.
(D) In 2026, and subsequent years, 15 percent of the preceding year's net income, or such prorated sums as may be required to assure that the aggregate contribution of the Banks shall not be less than $100,000,000 for each such year.
The supplied September 29, 2026 source snapshot records introduction and referral to the House Committee on Financial Services on September 8. It records committee consideration on September 16 and an order to report the amended bill unfavorably, with a recorded vote of 21–28. These entries do not establish enactment.
Source snapshot updated 2026-09-29T15:55:02Z.
2026-09-08: Referred to the House Committee on Financial Services. 2026-09-08: Introduced in House
2026-09-16: Ordered to be Reported Unfavorably (Amended) by the Yeas and Nays: 21 - 28. 2026-09-16: Committee Consideration and Mark-up Session Held
A closer look
Reviewed version: Introduced in House · 2026-09-08. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated rider was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
None identified in the reviewed text
No materially narrow carve-out, special exemption, or preferential treatment was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Full text preserved for this analysis. Legislative record snapshot: Sep 29, 2026. How PlainBill uses AI