Garbarino, Liccardo Introduce SUPPLY Act
WASHINGTON, D.C. — Today, Congressman Andrew Garbarino (R-NY) joined with Congressman Sam Liccardo (D-CA-16) to introduced H.R. 4568, the Supporting Upgraded Property Projects and Lending for Yards (SUPPLY) Act. This bipartisan bill will expand access to financing for Accessory Dwelling Units (ADUs), also known as backyard cottages, granny flats, or in-law suites. The SUPPLY Act will provide government-backed, flexible financing options to help homeowners of modest means overcome what is often the last hurdle to breaking ground on an ADU.
“On Long Island, families work hard to create economic opportunities for themselves and their communities. Sometimes that opportunity is right in their own backyard, and they just need the tools to seize it,” said Rep. Garbarino. “The SUPPLY Act would help New Yorkers access financing and provide the flexibility to turn in-law suites, converted garages, and other Accessory Dwelling Units on their property into spaces that build long-term value. This bipartisan bill gives families the chance to invest, grow equity, and strengthen our local economy. I am proud to partner with Congressman Liccardo on this commonsense effort to empower homeowners across the country.”
“As mayor of San Jose, we proved that cutting the red tape made reluctant homeowners jump at the chance, and we saw nearly 1,000 permit applications in a year. After they got the permits, too many homeowners faced, another barrier: a lack of financing options,” said Rep. Liccardo. “With access to capital, we can empower homeowners to become home providers for thousands of renters in every metropolitan area.”
“The National Association of Home Builders applauds Reps. Sam Liccardo (D-Calif.) and Andrew Garbarino (R-N.Y.) for introducing the SUPPLY Act, legislation that will address our nation’s housing supply shortage by making it easier to finance accessory dwelling units (ADUs). By allowing HUD to insure second mortgages for homeowners seeking to finance ADU construction, this bill will ensure that property owners have access to ADU financing, which will ease housing shortages and improve affordability,” said Buddy Hughes, NAHB Chairman.
The bill is endorsed by the Mortgage Bankers Association, the National Association of Home Builders, and the California and Nevada Credit Union Leagues. It is cosponsored by Representatives Emanuel Cleaver (D‑MO‑5), Brad Sherman (D‑CA‑32), Mike Thompson (D‑CA‑4), Raul Ruiz (D‑CA‑25), Darren Soto (D‑FL‑9), Scott Peters (D‑CA‑50), John Garamendi (D‑CA‑8), Eric Swalwell (D‑CA‑14), Sarah McBride (D‑DE‑At Large), Maggie Goodlander (D‑NH‑2), Cleo Fields (D‑LA‑6), Sarah Elfreth (D‑MD‑3), Adam Gray (D‑CA‑13), Gilbert Ray Cisneros Jr. (D‑CA‑31), Greg Stanton (D‑AZ‑4), Josh Harder (D‑CA‑9), Gregory Meeks (D‑NY‑5), Yassamin Ansari (D‑AZ‑3), Bill Foster (D‑IL‑11), and Jim Costa (D‑CA‑21).
Bill text can be found here.
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