This bill establishes a pilot program to help local governments in large urban areas create better maps for urban flooding, which occurs when heavy rain overwhelms drainage systems in built-up areas. The Federal Emergency Management Agency will provide grants to eligible cities and stormwater authorities to develop easy-to-understand digital tools that show specific flood risks for individual buildings and factor in climate trends. Funding is available for up to 12 locations over several years, with a preference for communities that are highly vulnerable to flooding or sea-level rise, and recipients must share their results and lessons learned online with the public.
This bill creates a new federal tax credit to encourage owners of manufactured home communities to sell their land to residents or nonprofit organizations that agree to keep the community affordable. The credit allows sellers to claim 75% of their profit from the sale, provided the buyer agrees to a binding 50-year covenant that the land will remain used for manufactured housing. To qualify, the new owner must be a resident-owned cooperative or a nonprofit corporation with democratic governance where residents elect the board of directors. The legislation aims to prevent community closures and protect low-income homeowners from rising rents by promoting long-term resident ownership. This change takes effect for taxable years beginning after December 31, 2026.
The Housing for All Veterans Act of 2026 creates a new rental assistance program specifically for low-income veterans and their families. It allows these households to apply for housing vouchers through existing public housing agencies, with eligibility criteria gradually expanding from extremely low-income in 2027 to broader low-income definitions by 2031. Key provisions include counting VA disability benefits as non-income, prohibiting discrimination against voucher holders, and providing service fees to agencies to help veterans secure leases. The bill also ensures that current veterans receiving support are not affected by the new rules and that the program supplements, rather than replaces, existing housing aid.
This bill expands housing benefits for volunteer firefighters and other first responders by allowing them to receive a $18,000 income deduction when applying for USDA single-family housing loans. It also grants these volunteers eligibility to purchase discounted homes through the Good Neighbor Next Door program and similar federal housing sales initiatives. To qualify, individuals must provide a verification letter from their volunteer organization confirming at least two years of service, meeting specific hour or membership requirements, and holding valid state or tribal certification. The legislation defines "qualified volunteer first responders" based on existing Internal Revenue Code standards and requires proof of a commitment to continue volunteering for at least one year after buying a home.
The Homeownership Savings Act creates a new tax-advantaged account designed to help first-time homebuyers save for down payments and closing costs. This program allows individuals to deduct up to $3,000 annually from their federal income taxes for contributions made to a qualified homeownership savings account, subject to limits based on earned income and modified adjusted gross income. Contributions to these accounts are also excluded from federal income, Social Security, and unemployment taxes if made by employers, and funds withdrawn for approved housing expenses remain tax-free. The bill includes specific rules for account termination, penalties for non-qualified withdrawals, and requires trustees to file reports with the IRS. These tax provisions are scheduled to take effect for taxable years beginning after December 31, 2026.
This resolution directs the House to agree to a Senate amendment for a comprehensive housing bill that updates federal programs to increase housing supply, improve affordability, and modernize regulations. The legislation directly affects homeowners, renters, local governments, financial institutions, and federal agencies by establishing new grant programs, revising loan limits, and streamlining environmental reviews for construction projects. Key provisions include creating incentives for small-dollar mortgages, expanding funding for affordable housing and rural development, updating standards for manufactured and modular homes, and enhancing oversight of housing regulators and community banks. Additionally, the bill introduces specific measures to address homelessness, support veterans, and improve the efficiency of interagency coordination among HUD, USDA, and VA.
This bill directs the Department of Housing and Urban Development (HUD) to prepare a report for Congress. The report must evaluate the feasibility of creating a program that would allow first-time homebuyers who are first responders or school teachers to obtain FHA mortgage insurance without a down payment. HUD must consult with the Department of Veterans Affairs and analyze various aspects, including the program's costs, solvency, and impact on these specific homebuyers.
This bill, the Original Additional Credit FHA Pilot Program Authorization Act, establishes a pilot program within the Federal Housing Administration (FHA) to allow prospective mortgage borrowers to voluntarily opt into a new credit scoring model. This model uses "additional data" beyond traditional credit reports to assess creditworthiness, aiming to help individuals with limited or no conventional credit history qualify for FHA-insured loans. The Department of Housing and Urban Development (HUD) will select these new credit models and require lenders to inform borrowers about their options and how the pilot model differs. The program specifically prohibits its use for refinancing existing loans on the same property and mandates detailed reports to Congress on its effectiveness, demographic impact, and financial implications for the FHA's insurance fund.
The "Take Your Rate Act of 2026" directs the Secretary of Housing and Urban Development and the Director of the Federal Housing Finance Agency to jointly conduct a study. This study will examine the feasibility and potential impacts of allowing homeowners to transfer their existing interest rate on federally backed mortgages to a new home, a concept known as mortgage portability. It requires an analysis of administrative feasibility, effects on the housing market, benefits to current borrowers, budgetary impacts, and potential regulatory or statutory changes needed. Within 180 days, the agencies must submit a report to Congress detailing their findings, policy recommendations, and an assessment of risks and benefits.
This bill reauthorizes and modifies an existing Federal Housing Administration (FHA) pilot program designed to help prospective homebuyers, particularly those with limited credit history, qualify for mortgages. It allows the FHA to use credit scoring models that incorporate "additional data" (beyond traditional credit reports) for borrowers who voluntarily choose to participate, aiming to assess their creditworthiness more comprehensively. The legislation requires the Secretary of Housing and Urban Development to select these models, ensure lenders provide clear information to borrowers about their options, and specifically prevents the program from being used for refinancing existing loans. It also mandates detailed reports to Congress on the pilot's effectiveness and impact, extending the program for an additional five years.
