Sponsors (9)
Official title: To provide rental vouchers for the homeless, and for other purposes.
Introduced June 11, 2026 by Val Hoyle · Last progress June 11, 2026
The bill dramatically expands funding and tax incentives to increase affordable rental supply, vouchers, supportive services, and targeted homeownership tools, but does so at significant fiscal cost and with added regulatory complexity and administrative burdens that may strain agencies and leave gaps in very high‑cost markets.
Low-income renters, people experiencing homelessness, veterans, survivors of domestic violence, and youth will get expanded tenant- or project-based vouchers, prioritized placement, increased supportive‑services funding, PHA capacity grants, administrative fees, and greater portability to help secure and retain housing.
Very low‑ and extremely low‑income households will benefit from a large, dedicated Housing Trust Fund ($10 billion/year FY2026–2036) to build rental housing affordable to the lowest‑income renters.
States and developers will get stronger LIHTC incentives and targeted set‑asides (larger per‑capita allocations, an 8% reservation for extremely low‑income projects, on‑site supportive‑services basis increases, and expanded difficult‑development area boosts) to produce and preserve deeply affordable rental housing and supportive projects.
Taxpayers and the federal budget will face large new spending and tax‑expenditure commitments (Housing Trust Fund, expanded LIHTC/credits, renter and homeowner credits) that materially increase fiscal exposure and could raise deficits or require offsets.
PHAs, state housing agencies, owners/developers, lenders, and nonprofits will face substantial new administrative, reporting, monitoring, and certification burdens across programs, increasing costs and straining agency and owner capacity.
The package’s complexity—many new credits, eligibility rules, look‑back tests, coordination requirements between HUD and Treasury, and novel compliance systems—risks implementation delays, guidance uncertainty, and litigation that could slow delivery of benefits.
Based on analysis of 7 sections of legislative text.
Creates HUD homeless rental vouchers, raises LIHTC set‑asides for extremely low‑income units, creates a middle‑income housing credit and Neighborhood Homes credit, and adds a refundable first‑time homebuyer credit.
Creates a new HUD rental voucher program targeted to people experiencing homelessness, defines eligibility and priorities, and requires HUD guidance, reporting, and waiver authority. It also changes multiple federal housing and tax rules: raises set‑asides and adds incentives for extremely low‑income housing in the Low‑Income Housing Tax Credit (LIHTC) program, creates a new middle‑income housing tax credit and a Neighborhood Homes credit, amends tax rules and deficiency definitions, and establishes a refundable first‑time homebuyer tax credit. The bill mixes program authorization and tax code changes: it authorizes use of existing voucher funds and administrative fees for the homeless voucher program, imposes new allocation and extended‑use requirements for middle‑income tax‑credit properties, and creates several new federal tax credits and adjustments that interact with existing housing credit and tax base rules. Implementation requires HUD rulemaking and IRS tax guidance and coordination with state housing agencies and housing credit allocation authorities.