Section 1 Short title
This Act may be cited as the “Increasing Home Ownership for Servicemembers Act”.
Increasing Home Ownership for Servicemembers Act
A BILL
To direct the Secretary of Defense to seek to enter into an agreement with an entity to conduct a study and produce a report on barriers to home ownership for members of the Armed Forces.
Sec. 2 Study and report on barriers to home ownership for members of the Armed Forces
Not later than one year after the date of the enactment of this Act, the Secretary of Defense shall seek to enter into an agreement with a federally funded research and development center or nonprofit entity to conduct a study on the barriers to home ownership for members of the Armed Forces. At the conclusion of such study, the Secretary shall submit to the Committees on Armed Services of the Senate and the House of Representatives a report containing the following elements:
Potential barriers to home ownership, including down payments, concerns about home maintenance, and challenges in selling a home.
The percentage of members who use the basic allowance for housing under section 403 of title 37, United States Code, to pay for a mortgage, disaggregated by Armed Force, rank, and military housing area.
Any identified differences in home ownership rates among members correlated with race or gender.
What percentage of members own a home before they separate from the Armed Forces.