H.R. 5506: Home Improvement Loan Modernization Act of 2014

113th Congress · introduced 2014-09-17 · Housing and Community Development · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2014-09-17 · official record
Who proposed it: Rep. Huffman, Jared [D-CA-2] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Home Improvement Loan Modernization Act of 2014

Plain summary

Home Improvement Loan Modernization Act of 2014 - Amends the National Housing Act to specify the premium charge paid by a financial institution to insure any loan, advance of credit, or purchase of obligations representing loans and advances of credit it makes to finance certain home improvements for both existing single-family and multifamily structures. Sets the initial premium at 2.75% of the original insured principal obligation, with annual premium payments not to exceed 1.5% of the remaining balance. Limits any premium charges to the minimum amounts necessary to maintain a negative credit subsidy for the insurance program. Increases the maximum obligation that may be insured for improvements to: (1) an existing single-family dwelling from $25,000 to $42,000; and (2) an existing multi-family structure from $60,000 to $101,888, with an average amount of $20,378 (currently $12,000) per family unit. Directs the Secretary of Housing and Urban Development (HUD) to develop a method of indexing to increase these dollar amount limitations annually, based on the Consumer Price Index for all urban consumers (CPI-U) computed by the Bureau of Labor Statistics (BLS). Allows an increase in these dollar amount limitations also by up to 150% if at least half of the amount will be used for energy conserving improvements or the installation of solar energy systems.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

Home Improvement Loan Modernization Act of 2014

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Huffman, Jared [D-CA-2] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Rep. Huffman, Jared [D-CA-2] reported raising $1.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

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Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr5506.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr5506 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113