This bill aims to make housing more affordable and available. It pushes cities and states to allow more homes near transit and to speed up building approvals. Transit projects can score higher in federal reviews if local rules support new housing, like by-right approvals or smaller minimum lot sizes, which can lead to more homes, including below-market units, where they’re needed most . It also creates a pilot to turn empty, blighted buildings into homes through competitive grants to local governments, when certain federal housing funds exceed a set level, with grants ranging from $1–10 million per community .

Homeowners and small landlords could get help fixing homes through a “whole-home repairs” pilot. Local groups would give grants to low-income homeowners and loans (sometimes forgivable) to landlords for needed repairs. Landlords getting help must keep rents in check for three years and follow tenant protections and building codes. The program must be set up within a year of the law, with clear rules on costs, completion, and reuse of any leftover funds . The bill also updates how federal community grants are handed out: places that improve their housing growth can earn bonus funds, while laggards may see less, starting in the second full fiscal year after this becomes law and running through 2042 . Rural communities would see better service from the USDA’s housing programs, including tech upgrades, notices to tenants when loans are maturing, and tools to keep affordable rural rentals preserved and in good shape . It further works to reduce homelessness by improving local assessment processes, data sharing with health and veterans programs, and allowing temporary waivers of certain spending caps from 2026–2029 if communities show need and a clear plan .

• Who is affected: renters, homeowners, small landlords, local and tribal governments, builders, and transit agencies .
• What changes: more incentives to allow housing near transit; grants to convert vacant buildings; repair help for homes with rent protections; new rules that reward places that add housing; stronger rural housing support; better tools to prevent and reduce homelessness .
• When: repair pilot set up within 1 year; vacant-building grants available in fiscal years 2027–2031 if funding triggers are met; housing-growth bonuses/penalties start in the second full fiscal year after enactment and last through 2042; homelessness waivers available 2026–2029; multiple rural housing upgrades and preservation actions begin with fiscal year 2026 .

Overall, the bill uses funding, incentives, and simpler rules to fix homes, build more, and keep people housed, especially in high-need and rural areas .