Sponsors (17)
Official title: To address the housing crisis through strong perpetual affordability provisions and shared equity housing models, bold investments to increase and preserve the national affordable housing supply, center inclusive local zoning and land use, provide relief for rural renters, and funding paths to homeownership.
Introduced June 30, 2026 by Becca Balint · Last progress June 30, 2026
This bill greatly expands federal support and tools to create, preserve, and subsidize affordable housing—especially for low‑income and rural households—but does so at substantial taxpayer cost and with trade‑offs that may raise borrower costs, concentrate benefits among larger recipients, and leave some protections dependent on future appropriations.
Low‑income renters and households nationwide gain a large, sustained increase in affordable housing resources (e.g., $44.5B/yr Housing Trust Fund, expanded HOME, Capital Magnet, downpayment and shared‑equity grants, USDA loan support) that will fund rental assistance, preservation, new construction, and homeownership programs.
Residents of at‑risk rural and multifamily properties (and the communities they live in) receive stronger preservation tools and longer‑term rental assistance (up to 20 years), plus grants and technical assistance to keep existing affordable units from converting to market rate.
Low‑income homebuyers, CLTs, and shared‑equity models get expanded support (downpayment assistance, Shared Equity Fund, Shared Equity Resource Center, long‑term affordability rules), helping create and preserve permanently affordable ownership options.
Taxpayers face substantially higher federal outlays over many years because of recurring multi‑billion dollar appropriations and program expansions, increasing the federal budget burden.
Homebuyers and mortgage borrowers are likely to see higher mortgage costs because GSE fees are increased (from 4.2 to 10 bps) and a 1.0% USDA loan floor could raise borrowing costs for some rural borrowers.
Expanding GSE purchase and securitization of construction loans and other federal financing changes increases federal exposure to mortgage losses if underwriting weakens, transferring potential financial risk to taxpayers.
Based on analysis of 6 sections of legislative text.
Provides large multi‑year appropriations and program changes to expand production and preservation of affordable housing, raise GSE fees, and create eviction‑prevention and shared‑equity programs beginning in FY2027.
Provides large, multi-year appropriations and program changes to expand and preserve affordable housing. It directs billions annually (mostly FY2027–FY2036) to the Housing Trust Fund, Capital Magnet Fund, HOME program, shared-equity housing, eviction protection, downpayment assistance, and new USDA rural preservation authority while raising certain GSE fees and enabling GSE construction loan purchases and securitization. Creates new or expanded grant and loan authorities and program rules to support eviction prevention, community land trusts/shared-equity models, rural rental preservation, and downpayment assistance; requires outreach and tenant protections for maturing USDA rural loans; and tasks Treasury with studying taxes on short-term rental/vacation homes. Most funding and program changes take effect in fiscal year 2027 or upon enactment as specified.