Educator Down Payment Assistance Act of 2024

[Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8285 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8285 To direct the Secretary of Housing and Urban Development to award grants to provide financial assistance to certain educators to make down payments on certain homes, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 7, 2024 Mr. Swalwell (for himself, Mrs. Hayes, Mr. Carson, Ms. Norton, Mr. Soto, Ms. Strickland, Ms. Tokuda, and Ms. Williams of Georgia) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To direct the Secretary of Housing and Urban Development to award grants to provide financial assistance to certain educators to make down payments on certain homes, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Educator Down Payment Assistance Act of 2024''. SEC. 2. FIRST-TIME HOMEBUYER DOWN PAYMENT ASSISTANCE PROGRAM. (a) Establishment.--The Secretary of Housing and Urban Development shall award grants, on a competitive basis, to eligible entities to provide financial assistance to eligible educators in accordance with subsection (d). (b) Application.--An eligible entity seeking a grant under this section shall submit to the Secretary an application in such form, at such time, and containing such information as the Secretary determines appropriate, including an assurance that such entity will use an existing, or establish a new, down payment assistance program to provide financial assistance to eligible educators. (c) Geographic Areas.--In the case of a geographic area that is served by an eligible entity that is a unit of local government and an eligible entity that is