Allows recipients of federal assistance under Title 23 to transfer real property they no longer need for development of transit‑oriented housing. The Secretary may approve transfers to local governments, nonprofits, or (under conditions) third parties, and transferees must meet long‑term affordability rules that include income and rent limits for 30 years after transfer.

The transferee will have no further obligation to the federal government for the transferred property once the transfer is completed under the statute’s rules. The new authority is aimed at converting surplus transportation-related property into long‑term affordable housing near transit.