My life is too exciting, so I skimmed through the HERO ACT proposal hoping the 1,815 page document would put me to sleep Unfortunately it did not.
https://docs.house.gov/billsthisweek/20200511/BILLS-116hr6800ih.pdf
Cliff Notes version:
No late fees, scheduled repayment periods, no evictions for a year, extra Rent Assist and emergency assistance, ten times penalties for violations. Bad for landlords and mortgage providers
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SEC. 110201. EMERGENCY RENTAL ASSISTANCE.
(a) AUTHORIZATION OF APPROPRIATIONS.—There is 24 authorized to be appropriated to the Secretary of Housing and Urban Development (referred to in this section as the ‘‘Secretary’’) $100,000,000,000 for an additional amount for grants under the Emergency Solutions Grants program under subtitle B of title IV of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11371 et seq.), to remain available until expended (subject to subsections (d) and (n) of this section), to be used for providing short or medium-term assistance with rent and rent-related costs (including tenant-paid utility costs, utility- and rent arrears, fees charged for those arrears, and security and utility deposits) in accordance with paragraphs (4) and (5) of section 415(a) of such Act (42 U.S.C. 11374(a)) and this section.
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SEC. 110203. PROTECTING RENTERS AND HOMEOWNERS FROM EVICTIONS AND FORECLOSURES.
(b) MORATORIUM.—During the period beginning on the date of the enactment of this Act and ending 12 months after such date of enactment, the lessor of a covered dwelling located in such State may not make, or cause to be made, any filing with the court of jurisdiction to initiate a legal action to recover possession of the covered dwelling from the tenant for nonpayment of rent or other fees or charges.
All rentals are covered, not just those with Rent Assist or Federal backed mortgages :P966 L1
(1) COVERED DWELLING.—The term ‘covered dwelling’ means a dwelling that is occupied by a tenant
(A) pursuant to a residential lease; or
(B) without a lease or with a lease terminable at will under State law.
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(b) TENANT-BASED SECTION 8 RENTAL ASSISTANCE.—There is authorized to be appropriated for an additional amount for fiscal year 2020 for the tenant-based rental assistance under section 8(o) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)) $3,000,000,000, to remain available until September 30, 2021, of which not more than $500,000,000 may be used for administrative fees under section 8(q) of such Act (42 24 U.S.C. 1437f(q)).
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SEC. 110402. RESTRICTIONS ON COLLECTIONS OF CON2 SUMER DEBT DURING A NATIONAL DISASTER OR EMERGENCY.
(1) COVERED PERIOD.—The term ‘covered period’ means the period beginning on the date of enactment of this section and ending 120 days after the end of the incident period for the emergency declared on March 13, 2020, by the President under section 501 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 4121 et seq.) relating to the Coronavirus Disease 2019 (COVID-19) pandemic.
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(1) IN GENERAL.—Notwithstanding any other provision of law, no debt collector may, during a covered period—
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(D) commence or continue an action to evict a consumer from real or personal property for nonpayment;
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(e) VIOLATIONS.—Any person or government entity that violates this section shall be liable to the applicable consumer as provided under section 813, except that, for purposes of applying section 813
(1) such person or government entity shall be deemed a debt collector, as such term is defined for purposes of section 813; and
(2) each dollar figure in such section shall be deemed to be 10 times the dollar figure specified.
