Build HUBS Act

The Build HUBS Act extends and improves the Transportation Infrastructure Finance and Innovation (TIFIA) and Railroad Rehabilitation and Improvement Financing (RRIF) programs to support housing near transit. It creates new definitions for "attainable housing projects" (affordable to households earning up to 120% of area median income, with most units affordable to those earning up to 80% of area median income) and allows an "investment-creditworthiness assessment alternative" instead of requiring investment-grade ratings for financing. The bill requires at least 75% of TIFIA funding for attainable housing projects to go toward residential components, sets a lower interest rate (half the Treasury Rate) for these projects, and exempts certain land acquisition activities from environmental review requirements under the National Environmental Policy Act.