Sponsors (2)
Introduced January 14, 2026 by Lisa Blunt Rochester · Last progress January 14, 2026
The bill accelerates and finances transit‑oriented housing and station‑area development—making it easier and cheaper to build near transit and to prioritize some affordable units—while shifting credit risk, reducing some environmental review and oversight, and raising the risk of displacement and taxpayer exposure.
Low- and moderate-income households (≤120% AMI) and renters: creates an "attainable housing" pathway that prioritizes units affordable to ≤80% AMI and offers lower-cost loan terms for eligible projects, lowering financing costs for affordable housing near transit.
Residents in transit areas (urban and some rural communities): increases housing supply built near transit and supports mixed‑use development, improving access to jobs and services and encouraging transit ridership.
Local governments, small communities, and project sponsors: expands access to federal credit (TIFIA/RRIF/Treasury‑rate terms, alternative credit assessments for smaller projects) and leverages public‑private partnerships to mobilize private capital for station‑area development.
Low‑income individuals and renters: accelerated TOD and higher‑value station‑area development could raise property values and rents, increasing displacement and affordability pressures near transit.
Taxpayers and state governments: expanding TIFIA/RRIF support, allowing alternative credit demonstrations, and backing more non‑investment‑grade TOD loans increases federal fiscal exposure and could raise costs to taxpayers if projects default.
Taxpayers and local governments: streamlining underwriting, delegating origination to private servicers, and limiting some program fees reduce federal oversight and fee revenue, increasing the risk that higher‑risk or lower‑quality projects proceed without sufficient supervision.
Based on analysis of 5 sections of legislative text.
Amends TIFIA and RRIF to speed federal credit for transit‑ and rail‑oriented housing/mixed‑use projects via new definitions, alternative credit tests, delegated origination, and interest‑rate rules.
Makes targeted changes to federal credit programs (TIFIA and RRIF) so those programs can more easily finance housing and mixed‑use projects near transit and passenger rail. It extends the TIFIA authorization period, creates new definitions for “attainable housing” and transit/transportation‑oriented development, and allows alternative ways to demonstrate creditworthiness to speed lending and support public–private housing near transit. Also creates a delegated origination/underwriting track, sets a preferred (Treasury) interest rate for certain attainable housing loans, requires an appropriate share of project value to be reinvested in the associated rail station or service, adds planning and coordination requirements for metropolitan TOD projects, and explicitly preserves state and local zoning and land‑use authority.