Just before the Congressional recess earlier this month, Congressman Barney Frank (MA), Chairman of the House Committee on Financial Services, introduced HR 4868, the “Housing Preservation and Tenant Protection Act of 2010.” The bill addresses the preservation of federally and state financed assisted housing, restoration of at risk housing due to deterioration, and protection of residents and preservation of troubled properties at risk of foreclosure. Because this bill has strong implications on private property rights, MHI has been in touch with other trade associations who also have a strong interest this legislation, including the National Multi Housing Council, National Association of Home Builders, and the National Apartment Association. Markup of the bill is expected before June and consideration by the Committee and the House is expected before the end of the year. While passage of this bill by both chambers of Congress would be highly unlikely, MHI will be monitoring this issue very closely over the coming months.

MHI members can contact Thayer Long at tlong@mfghome.org with any questions.