Sponsor
Shontel M. Brown
Representative · D-OH
Representative · D-OH
The bill channels $500 million per year into competitive grants to expand and preserve affordable housing and strengthen community lenders, improving access and local development while increasing federal spending and favoring established intermediaries and tightly constrained administration.
Low-income renters and homeowners gain increased access to affordable housing through $500 million per year in competitive grants to finance development, preservation, and rehabilitation projects.
Community lenders (CDFIs) and nonprofit developers receive new capital and risk‑mitigating tools (loan loss reserves, revolving funds, guarantees) to leverage private investment for affordable housing.
Funding supports transit‑oriented, mixed‑use, and other projects that can spur local economic development and improve access to services in urban and rural communities.
Taxpayers face an increase in federal outlays of $500 million annually for five years, which could raise deficits or crowd out other priorities.
The competitive grant structure may disproportionately benefit experienced CDFIs and larger nonprofits, making it harder for smaller or newer community organizations—especially in rural areas—to win awards.
Capping administrative expenses at 5% could constrain Treasury and CDFI Fund management capacity, slowing award processing, oversight, and technical assistance.
Based on analysis of 2 sections of legislative text.
Creates a CDFI Fund Housing Supply Fund and provides $500M/year (FY2026–2030) for competitive grants to finance affordable rental and owner housing and related community facilities.
Official title: To increase the supply of affordable homes and expand housing options.
Introduced June 11, 2026 by Shontel M. Brown · Last progress June 11, 2026
Creates a Housing Supply Fund within the CDFI Fund that will award competitive grants to certified community development financial institutions, qualifying nonprofits, housing finance agency or public housing agency subsidiaries, and consortia to finance, preserve, rehabilitate, acquire, or convert affordable rental and owner housing and related community facilities. The bill provides $500 million per year from the Treasury for FY2026–2030, limits administrative spending to 5%, requires grantees to commit funds within four years (with limited waivers), treats assistance as federal financial assistance for civil‑rights compliance, and gives Treasury rulemaking authority for program implementation.