GOPC has been actively tracking the Congressional housing bill, H.R. 6644, known as the 21st Century ROAD to Housing Act. The legislation has gone through several iterations within and between the U.S. House of Representatives and U.S. Senate. Last summer, we first reported on the Senate legislation.
House lawmakers approved their version of the bill on February 9 by a bipartisan vote of 390-9. Today’s vote in the Senate was equally bipartisan, clearing the chamber 89-10.
There are still differences between the House and Senate passed bills that will likely need to be reconciled through Conference. It is not yet know when or how long it will take to reconcile the two versions of the bill, and given that lawmakers are depart soon for the Easter recess, it could happen anytime between now and early May.
It is expected that the bill, given its broad bipartisan support, will win backing from the White House.
GOPC will continue to actively monitor the legislation and provide updates as they become available.
Here is the full summary of the provisions included in the Senate-passed package, provided by the Senate Banking, Housing, and Urban Affairs Committee.
Highlights of the passed legislation include:
Accelerating Home Building Act – authorizing grants to help communities establish pre-approved housing designs (pattern books) to streamline and expedite local construction processes
Whole Home Repair Act - Grants and forgivable loans for eligible recipients for holistic home repair/health hazard repair for aging housing stock
Build Now Act – incentivize housing development in CDGB participating jurisdictions
Reside Act – a pilot program within the HOME Investment Partnership Program to convert vacant and abandoned buildings into attainable housing
Homes Are For People, Not Corporations – prohibits large institutional investors from purchasing certain single-family homes to promote homeownership opportunities for families, not corporations
Added weight for applications for competitive HUD grants for housing in Opportunity Zones