H.R. 7386: HOMES Act of 2020
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H.R. 7386: HOMES Act of 2020
116th Congress · introduced 2020-06-26 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.
federal
Follow this bill, step by step
- Where it came from: introduced 2020-06-26 · official record
- Who proposed it: Rep. Finkenauer, Abby [D-IA-1] · 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.
Official title
HOMES Act of 2020
Plain summary
Helping Owners Meet Essential Standards Act of 2020 or the HOMES Act of 2020 This bill requires manufactured housing communities and home parks to meet minimum consumer protections to be eligible for certain federally-backed loans for the construction, substantial rehabilitation, or purchase of these communities. Specifically, the Department of Housing and Urban Development is prohibited from insuring such a loan, and Fannie Mae and Freddie Mac are prohibited from purchasing such a loan, unless a borrower provides specified tenant protections, including one-year renewable lease terms, unless there is good cause for nonrenewal; a 60-day advance notice of any increase in rent, or of a sale or closure of the community; a five-day grace period for rent payments; and a right for a tenant to sell a manufactured home within a reasonable time period after eviction. The bill also establishes the Manufactured Home Company Lending Standards Commission to propose additional consumer protection standards.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Finkenauer, Abby [D-IA-1] · 2 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
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)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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-116hr7386.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>
Record fed-us-cong116-hr7386 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116