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S 2295 118th Congress Senate Finance and Financial Sector

LIFT Homebuyers Act of 2023

Introduced: July 13, 2023 Introduced by: Warner, Mark R. Democratic · Virginia See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 13, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 13, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Low-Income First-Time Homebuyers Act of 2023 or the LIFT Homebuyers Act of 2023

This bill establishes a program to provide fixed-rate 20-year mortgages for first-time, first-generation homebuyers whose incomes do not exceed a certain amount. These mortgages must be offered by the Federal Housing Administration (FHA) or the Rural Housing Service (RHS).

Pricing terms must be established (1) such that monthly mortgage payments under this program are similar to a 30-year FHA- or RHS-backed mortgage, or (2) as are determined to be necessary to develop liquidity for securities backed by covered mortgage loans and expand program participation by eligible homebuyers.

Additionally, program funds must be transferred to the Department of the Treasury for the purchase of securities backed by such mortgages.

What's happening now July 13, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Related & companion bills 1
  • HR 4573 Identical bill LIFT Homebuyers Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 4
D
Kaine, Tim
Virginia · Jul 13, 2023
 D
Ossoff, Jon
Georgia · Jul 13, 2023
 D
Van Hollen, Chris
Maryland · Jul 13, 2023
 D
Warnock, Raphael G.
Georgia · Jul 13, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2295: LIFT Homebuyers Act of 2023. 118th Congress. Open America. https://openamerica.io/bill/118-S-2295/
MLA
"S. 2295: LIFT Homebuyers Act of 2023." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-2295/.
Bluebook (legal)
S. 2295, 118th Cong. (2026), https://openamerica.io/bill/118-S-2295/.
Markdown link
[S. 2295: LIFT Homebuyers Act of 2023](https://openamerica.io/bill/118-S-2295/)
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