Sponsors (16)
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
The bill directs large, sustained federal investment and new tools to expand and preserve affordable housing—especially for low‑income and rural households—but does so at substantial taxpayer cost and with program design and financial risks that may favor established grantees, constrain some owner and borrower choices, and leave some protections dependent on future appropriations.
Low‑income renters, homeowners, and communities will receive large, recurring federal funding boosts (housing trust fund, HOME, Capital Magnet Fund, downpayment/shared‑equity grants, USDA and rental preservation dollars) that substantially expand resources for affordable housing development, rental assistance, and preservation.
Renters and tenants — especially in rural and multifamily properties — gain stronger, longer tenant protections and direct supports (eviction prevention grants, longer‑term rental assistance up to 20 years, clearer translated notices, and tenant transfer protections) that reduce displacement risk and improve housing stability.
Owners and communities of at‑risk rural and affordable properties get new preservation tools and funding (loan restructuring, interest reduction, payment deferrals, acquisition/rehab grants, and USDA loan capacity) that increase chances buildings are kept affordable and in good repair.
Taxpayers will face substantially higher, recurring federal outlays (large annual HTF/HOME/CMF appropriations, downpayment/shared‑equity grants, USDA and preservation funding) that increase the federal budget baseline over many years.
Homebuyers and mortgage borrowers may see higher costs (GSE fee increase), and expanding GSE purchase/securitization of construction loans increases federal exposure to mortgage losses if underwriting or oversight weakens.
Program design and allocation rules (pre‑allocation to prior grantees, HUD waiver authority, and competitive grants) could concentrate benefits with established grantees and state agencies and disadvantage unaffiliated individuals, small communities, and grassroots groups seeking access to funds.
Based on analysis of 6 sections of legislative text.
Massively increases multi-year funding and program authority to produce, preserve, and protect affordable housing (HTF, CMF, HOME, USDA preservation, eviction protections, shared-equity programs).
Provides large, multi-year federal investments and program changes to expand and preserve affordable rental and homeownership housing across urban and rural areas. It sharply increases annual appropriations for the Housing Trust Fund, Capital Magnet Fund, HOME program, new eviction-protection and shared-equity grants, and expands USDA and FHA/FFB authorities to preserve rural multifamily and support construction financing. Imposes higher fees on government-sponsored enterprises to help finance the increases, creates a permanent USDA Housing Preservation and Revitalization program for maturing rural properties, and directs HUD and other agencies to run new grant programs, tenant notice requirements, and capacity-building activities. Many provisions run for FY2027–2036 and include program-level rules, allocation formulas, and loan restructuring authorities to keep assisted housing affordable long-term.