Sponsor
Kim Schrier
Representative · D-WA
Representative · D-WA
Creates grant and pilot programs, research and outreach, and surplus property conveyances to expand permanently affordable shared‑equity homeownership and funds those programs.
Official title: To promote shared equity models of homeownership, and for other purposes.
Introduced March 26, 2026 by Kim Schrier · Last progress March 26, 2026
The bill expands permanently affordable homeownership and development tools—granting nonprofits access to land, funding, loans, and long-term affordability rules—to produce and preserve affordable homes, but does so with substantial federal spending, discounted asset sales, added administrative complexity, and tradeoffs in targeting and financing flexibility.
Low- and moderate-income households (renters and prospective buyers) gain access to permanently affordable homes because the bill requires long-term (99-year or perpetual) affordability restrictions and enables surplus federal property conveyances to shared-equity models and community land trusts.
Local nonprofits, community land trusts, and shared-equity programs gain stronger eligibility for grants, technical assistance, and capacity-building funds, improving their ability to produce and manage permanently affordable housing locally.
Low- and moderate-income homebuyers benefit from expanded financing tools — below-market construction loans (≤3% interest, ≤1% origination), revolving loan funds, and seed federal grants — that lower upfront costs, support housing production, and sustain local construction jobs.
Taxpayers face substantial new federal costs and potential foregone revenue from multiple provisions (seed and annual authorizations, outreach funding, and required deep discounts on surplus property), increasing federal outlays and reducing receipts.
Broadening eligibility (up to 120% of AMI in some places) risks diluting aid to the lowest-income households, allowing limited permanently affordable units to be accessed by higher-income buyers instead of the most needy.
Small nonprofits and grantees face significant administrative burdens (applications, reporting, compliance with resale and long-term affordability rules), which could slow projects, divert staff time, and reduce participation.
Based on analysis of 6 sections of legislative text.
Creates federal grant programs, technical assistance, research, and a property-conveyance authority to expand permanently affordable, shared-equity homeownership (including community land trusts and limited‑equity cooperatives). It funds a Treasury-administered revolving‑loan grant program, a HUD pilot to buy land and properties for lasting affordability, HUD research/outreach and technical assistance on shared‑equity models, and authorizes discounted transfers of surplus federal property to shared‑equity entities. Sets eligibility and program rules (income limits, 99‑year minimum affordability terms or the longest allowed by state law, loan interest caps, reporting requirements) and provides multi‑year funding authorizations and annual reporting to congressional committees to track activities and outcomes.