HR 5648 118th Congress House Finance and Financial Sector

CARE Act

Introduced: September 21, 2023 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Sep 21, 2023

Referred to the House Committee on Financial Services.

Sep 21, 2023

Introduced in House

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Plain-English summary Congressional Research Service

Community Assistance for Recovery and Empowerment Act or the CARE Act

This bill allows inpatient psychiatric treatment facilities and chemical dependence treatment facilities to qualify for Federal Housing Authority mortgage insurance. The bill establishes the Office of Psychiatric and Addition Treatment Facilities to oversee mortgage insurance provided to these facilities.

The bill also specifies that a federally insured loan for improvements to a multifamily housing project or health facility may be used to protect against floods, hurricanes, earthquakes, and other natural disasters. The bill also expands loan insurance for certain energy conservation improvements to include health facility projects.

What's happening now September 21, 2023

Referred to the House Committee on Financial Services.

Bill text 1 version