HR 7697 · 117th Congress · Housing and Community Development
Affordable CO-OP (Collective Opportunities for Owning Property) Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.(2022-05-11)
Plain Language Summary
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Affordable CO-OP (Collective Opportunities for Owning Property) Act This bill expands access to financing through zero-interest loans and federally backed mortgages for, and otherwise supports, limited equity cooperatives. These are models of affordable homeownership in which residents purchase a share in a residential development and commit to resell their share at a price that maintains affordability.…
Summarized by Claude AI · Non-partisan · For informational purposes only