Sponsors (32)
The bill directs substantially more federal resources and new financing tools toward preserving and producing affordable housing while giving jurisdictions, HUD, and nonprofit partners greater flexibility—trading increased federal cost and some program and tenant protections for faster, more administratively flexible delivery of housing assistance.
Low-income individuals and families gain materially more federal HOME funding (rising from $5.0B to about $6.08B annually over FY2025–FY2029), increasing resources for affordable housing programs.
Participating jurisdictions, developers, and local governments get new federal financing capacity through a HUD guarantee authority (up to $2B in FY2025) that can accelerate preservation and development of affordable housing projects.
Low- and moderate-income homebuyers and nonprofits benefit from formal recognition and stronger preservation tools for community land trusts (statutory recognition plus 30-year affordability requirements and acquisition/resale rules), supporting long-term affordable homeownership.
Taxpayers face higher federal spending and potential fiscal exposure: HOME appropriations increase (raising federal outlays) and the new HUD guarantee authority (backed by full faith and credit) could expose taxpayers to losses if guarantees are called.
Low-income renters and households risk losing long-term affordability: granting the Secretary discretion to except or waive affordability for financially nonviable projects could be overused and reduce the inventory of permanently affordable units.
Local programs and the households they serve could face sudden interruptions if HUD more aggressively strips funding eligibility from jurisdictions that fail compliance requirements, creating abrupt service losses.
Based on analysis of 8 sections of legislative text.
Reauthorizes and raises HOME program funding for FY2025–FY2029, increases administrative caps, updates eligibility/reallocation rules, recognizes community land trusts, and eases rules for very small rental projects.
Introduced March 11, 2025 by Joyce Beatty · Last progress March 11, 2025
Reauthorizes and increases funding for the HOME Investment Partnerships program for FY2025–FY2029 and makes a range of rule changes affecting how HUD and local participating jurisdictions run HOME activities. The bill raises the cap on administrative/planning/operating uses, indexes an eligibility threshold for jurisdictions to inflation, broadens Secretary discretion in some program caps and reallocations, creates simplified rules for very small rental projects, removes a penalty that caused HOME funds to expire if not committed in 24 months, and updates definitions and treatment of CHDOs and community land trusts to encourage long‑term affordability.