The Vacancy to Value Act of 2026 directs the General Services Administration to run a five-year pilot program selling or transferring underused federal properties to entities that commit to specific community benefits like affordable housing and job creation. These sales may occur at prices below fair market value, provided buyers submit a redevelopment plan and begin construction within five years, with the government retaining the right to reclaim the property if these conditions are not met. Additionally, the bill establishes a competitive grant program administered by the Department of Housing and Urban Development to fund predevelopment work, construction, and infrastructure for projects led by local governments, nonprofits, and community land trusts. Priority consideration for both property transfers and grants is given to projects that create affordable housing or serve low-income and historically underserved communities, with recipients required to submit annual reports on their progress and impact.
The Reforming Disaster Recovery Act establishes a new Long-Term Disaster Recovery Fund to provide grants for housing, infrastructure, and economic revitalization in areas most affected by catastrophic major disasters. This legislation creates a new Office of Disaster Management and Resiliency within the Department of Housing and Urban Development to coordinate recovery efforts and ensures that at least 70 percent of the funding benefits low- and moderate-income households. The bill also introduces a formula-based allocation system that includes a specific portion of funds for mitigation activities designed to reduce future disaster risks and requires strict reporting to prevent the duplication of benefits with other federal aid.
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 Rural Area Population Act aims to update and standardize the definition of "rural area" used across various federal programs, including those for rural development, electrification, and housing. The bill modifies the existing definition, primarily by changing the term "urbanized" to "urban," which could broaden the eligibility for communities seeking federal assistance. It also grants the Secretary of Agriculture new authority to designate areas as rural, even if they are located within an urban area, if they demonstrate persistent poverty, a high concentration of farmworker households, or significant infrastructure gaps. Additionally, the bill requires the Secretary to prioritize certain "high-need rural pockets" - small, isolated settlements within urban areas that lack services and have high poverty rates - for rural designation, while ensuring current rural designations remain valid until 2030.
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.
The Housing for Heroes Act of 2026 expands eligibility for the Good Neighbor Next Door Sales Program to include members of the Armed Forces, firefighters, and law enforcement officers. Under this bill, these eligible individuals can purchase single-unit properties through the program even if the properties are not located in designated revitalization areas. The Department of Housing and Urban Development will update its regulations to implement these expanded eligibility rules. This change allows first responders and military personnel to access discounted housing opportunities in a broader range of locations.
This bill updates the federal program that provides grants to nonprofit organizations for helping rural residents build or repair their own water wells and wastewater systems. It directly affects low- and moderate-income households in rural areas by adjusting income eligibility thresholds and increasing the maximum subgrant amount to $20,000. The legislation also requires nonprofits to offer loans to households earning between 60 and 100 percent of the median nonmetropolitan income, and it adds funding to cover five-year performance warranties for wastewater systems. Finally, the program's expiration date is extended from 2023 to 2031, allowing continued support for these infrastructure projects.
This bill amends the Community Development Banking and Financial Institutions Act of 1994 to require the Treasury Secretary to testify annually before Congress about the Fund's operations. It also strengthens the CDFI Bond Guarantee Program by adjusting guarantee limits and extending the program's authorization period. Additionally, the bill expands capital assistance options for community development financial institutions and creates a new lending program specifically for Native community development financial institutions to support homeownership in Tribal and Native communities.
HR 6063 designates the Guam and Western Pacific USDA Rural Development Office as the official representative for USDA Rural Development services in Guam, the Commonwealth of the Northern Mariana Islands, American Samoa, and the Freely Associated States (the Marshall Islands, Palau, and Federated States of Micronesia). Within 90 days of enactment, the Secretary of Agriculture must formally establish this office’s role. The designated office will then have the same authority and responsibilities as a state-level USDA Rural Development office. This change ensures these territories and nations have a dedicated point of contact for rural development programs like loans and grants.
This bill establishes the Office of Credit Risk Management within the Small Business Administration to oversee the SBA's 504 loan program. It requires the Office to supervise certified development companies (CDCs), conduct random file reviews of loan closings, and enforce compliance through fees and penalties for violations. The Office must also submit annual risk reports to Congress detailing portfolio performance, enforcement actions, and financial metrics. These changes directly affect CDCs managing SBA 504 loans and aim to strengthen program integrity through enhanced oversight and reporting.
