Last week, Nareit joined several leading national real estate advocacy organizations in supporting H.R. 4351, The Yes in My Backyard (YIMBY) Act introduced by Rep. Denny Heck (D-VA) and Rep. Trey Hollingsworth (R-IN). The bill was reported out of the Financial Services Committee Markup unopposed. The bill was passed by voice vote in the House of Representatives on Monday, March 2.
The YIMBY Act encourages localities to eliminate discriminatory land use policies and remove barriers that prevent needed housing from being built in communities throughout the United States.
The YIMBY Act is an important first step in decreasing the barriers to smart, inclusive growth and reducing the negative and cumulative impact of exclusionary housing policies. It is also a way to clearly demonstrate that the federal government takes seriously the challenges created by exclusionary zoning.
(Contact: John Jones at jjones@nareit.com)