Housing Affordability and Community Stability Act

A bill to expand the supply and preservation of affordable housing by increasing and modernizing the Low-Income Housing Tax Credit, creating a competitive federal grant program for state and local governments that remove barriers to multifamily and mixed-income housing construction, and establishing dedicated preservation financing for existing subsidized units; to condition certain funds on basic tenant protections including just-cause eviction standards, advance notice of major rent increases, and rights to organize; and to provide targeted assistance for high-cost metropolitan areas, including those in Washington state, where rising land, labor, and construction costs have sharply limited housing access for working families, seniors, and people with disabilities.