Sponsors (32)
Official title: To reauthorize the HOME Investment Partnerships Program, and for other purposes.
Introduced March 11, 2025 by Joyce Beatty · Last progress March 11, 2025
The bill increases federal investment and financing tools to expand and preserve affordable housing and gives jurisdictions more program flexibility, but does so while raising taxpayer exposure, loosening some affordability and accountability safeguards, and shifting more funds and discretion toward administrative flexibility rather than exclusively toward direct housing production.
Low- and moderate-income households will benefit from a meaningful boost in HOME program funding (rising toward $6.08B annually over FY2025–FY2029), increasing resources for affordable housing production and preservation.
Community land trusts and prospective low-income homeowners will gain stronger statutory recognition and tools (including 30-year affordability terms and Secretary-authorized CLT acquisitions), supporting long-term preservation of affordable homeownership.
Local and state participating jurisdictions will have more operational flexibility — higher admin/planning/operating caps (10% to 15%), clearer HUD discretion over CHDO accountability, and ability to recapture/redeploy CHDO funds after 24 months — helping jurisdictions manage programs and speed local interventions.
Taxpayers face higher federal outlays and contingent liabilities because HOME appropriations increase and a new HUD guarantee authority (backed by full faith and credit) could expose the government to losses if guarantees are called.
Low-income renters and households risk a reduction in long-term affordable units because the Secretary can waive affordability requirements for financially nonviable projects and HUD may strip funding eligibility from noncompliant jurisdictions, potentially shrinking the affordable housing inventory or causing sudden local funding losses.
Renters in small-scale properties and community members risk weakened protections and representation because simplified rules exempt some small owners from tenant protections and changes reduce statutory CHDO board-accountability requirements, potentially diminishing tenant safeguards and resident voice.
Based on analysis of 8 sections of legislative text.
Reauthorizes and raises HOME program funding FY2025–FY2029, increases admin cap, revises eligibility/reallocation rules, adds small-scale housing rules, defines community land trusts, and removes a 24-month fund-expiration rule.
Reauthorizes and increases funding for the HOME Investment Partnerships (HOME) program for FY2025–FY2029 and changes how the program is run. The bill raises the allowable share of HOME funds for administrative/planning/operating uses, changes participating-jurisdiction eligibility and reallocation rules, creates simpler rules for small-scale rental housing, removes a 24-month commitment expiration for certain HOME funds, adds a statutory definition of community land trusts, and gives the Secretary of HUD more discretionary authority in several program limits and eligibility determinations.