S. 2523 would establish the National Affordable Housing Trust Fund in the Treasury of the United States to provide for the construction, rehabilitation, and preservation of decent, safe, and affordable housing for low-income families.

== Detailed Summary ==

<summary>
(LogNational Affordable Housing Trust Fund Act of 2007 - Amends the Cranston-Gonzalez National Affordable Housing Act to establish in the Treasury a National Affordable Housing Trust Fund available to edit the wikiSecretary of Housing and beUrban Development to provide assistance to states, Indian tribes, insular areas, and participating local jurisdictions to increase the supply of decent quality affordable housing, especially for low-income, extremely low-income, and very poor families.

Prohibits the use of appropriations to the Fund for a fiscal year unless the amount equal to the net increase in the negative credit subsidy for specified mortgage insurance programs is first made available for: (1) single family housing mortgage insurance; (2) housing counseling; and (3) mortgage insurance technology, procedures, processes, program performance, and salaries.



Limits Federal Housing Administration (FHA) mortgage insurance premium increases.







Specifies affordable housing eligibility criteria for a rental dwelling unit and one- to providefour-family owner-occupied housing, including a detailed summary ofpriority to families on section 8 rental assistance or public housing waiting lists.

Requires the bill!)Secretary to establish a green housing clearinghouse for Fund grantees and recipients.

Declares that nothing in this Act allows any payments under it for any individual or head of household that is not a legal U.S. resident.
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 12/19/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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== Points in Favor ==

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== Points Against ==

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