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Sec. 101 – Reforms to Housing Counseling and Financial Literacy Programs Sec. 102 – Federal Guidelines for Point Access Block Buildings Sec. 103 – Exemption on Construction or Modification of Residential Housing Located on an Infill Site This section allows the Department of Housing and Urban Development (HUD) to review the performance of housing counseling agencies and counselors. If a counselor’s performance falls short, HUD may require additional training and provide opportunities to demonstrate improvement. Counselors found to be consistently out of compliance may be subject to enhanced oversight or lose their certification.
This section allows the Department of Housing and Urban Development (HUD) to establish federal guidelines for point-access block buildings (i.e., single-staircase apartments with three or more stories). It also allows HUD to award competitive grants for pilot programs to assess the feasibility of such buildings where they make local sense.
This section exempts from the National Environmental Policy Act of 1969 (NEPA) most Rural Housing Service (RHS)-funded projects regarding the construction or modification of residential housing located on an infill site.
Sec. 104 – Database of Publicly Owned Land
This section requires Community Development Block Grant (CDBG) grantees to maintain a publicly accessible, searchable database identifying undeveloped land owned by the jurisdiction. It also allows grantees to use their CDBG funds to comply with the new database requirement.
Sec. 105 – FHA Small-Dollar Mortgages
Sec. 106 – Temperature Sensor Pilot Program
This section authorizes a HUD pilot program to increase access to small-dollar mortgages with original principal balances of $100,000 or less.
This section establishes a HUD pilot program to award grants to public housing agencies and owners of federally assisted rental housing to install temperature sensors in dwelling units, with the written permission of tenants, to ensure compliance with temperature-related housing quality standards.
Sec. 107 – Housing Supply Frameworks
This section directs HUD to develop best practice frameworks for zoning and land-use policies, helping communities identify and overcome barriers to housing development.
Sec. 201 – Increasing Housing in Opportunity Zones
This section enables the HUD Secretary to give added weight to applicants for competitive HUD grants that are located in, or primarily serve, designated Opportunity Zones to support housing preservation and construction.
CHAIRMAN TIM SCOTTSECTION-BY-SECTION
21st Century ROAD to Housing Act
Title I – Opportunities for Housing
Title II – Building More in America:
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Sec. 202 – Whole-Home Repairs Act
Sec. 203 – Community Investment and Prosperity Act
Sec. 204 – Addition of Affordable Housing Construction as an Eligible Activity This section authorizes a pilot program to offer grants and forgivable loans to eligible recipients to holistically address home repair needs and health hazards to stabilize aging housing stock.
This section increases the Public Welfare Investment cap applicable to banks supervised by the Office of the Comptroller of the Currency and the Federal Reserve from 15% to 20%, which will enhance banks’ capacity to make private investments in affordable housing.
This section adds new construction as an eligible use under HUD’s CDBG program.
Sec. 205 – Better Use of Intergovernmental and Local Development (BUILD) Housing Act This section cuts red tape around environmental reviews, empowering state, local, and tribal governments to streamline reviews and increase housing development.
Sec. 206 – Unlocking Housing Supply Through Streamlined and Modernized Reviews Act Sec. 207 – Grants For Planning and Implementation Associated with Affordable Housing This section right-sizes NEPA review for small and infill housing projects, which will simplify the review process and get projects to construction faster.
This section authorizes a pilot program to offer competitive grants to assist state, local, and tribal governments with regional housing planning and community development activities.
Sec. 208 – Innovation Fund
This section authorizes a seven-year program to offer highly-flexible funding for communities that are building more housing supply, which can be used to improve community infrastructure and build housing.
Sec. 209 – Accelerating Home Building Act
Sec. 210 – Revitalizing Empty Structures into Desirable Environments (RESIDE) Act This section authorizes a grant program to help communities establish pre-approved housing designs, or pattern books, to help streamline and expedite local construction processes and build more homes.
This section authorizes a pilot program within the HOME Investment Partnerships Program to convert vacant and abandoned buildings into attainable housing.
Sec. 211 – Housing Affordability Act
This section requires the Federal Housing Administration (FHA) to increase multifamily loan limits to better match housing market costs and enhance affordability.
Sec. 212 – Rental Assistance Demonstration Program
This section increases the cap for the Rental Assistance Demonstration (RAD) program by 100,000 units and codifies tenant protections.
Sec. 213 – Build Now Act
This section creates a pilot program to incentivize housing development of all types in certain CDBG participating jurisdictions.
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Sec. 301 – Housing Supply Expansion Act
This section updates the federal definition of manufactured housing to include units not built on a permanent chassis to encourage innovation and expand naturally-occurring affordable housing. It also ensures that no energy efficiency standards for manufactured housing take legal effect until adopted by HUD.
Sec. 302 – Modular Housing Production Act
This section requires FHA to assess barriers to FHA-insured lending for modular housing and directs the HUD Secretary to consider modifying the financing draw schedule to encourage modular housing construction.
Sec. 303 – Property Improvement and Manufactured Housing Loan Modernization Act This section updates mortgage lending standards for manufactured housing through FHA and expands access to financing for housing. The section also directs HUD to study the cost-effectiveness and long-term value of supporting housing finance for factory-built housing.
Sec. 304 – PRICE Act
This section authorizes HUD’s Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Program for seven years to provide grants to communities to maintain, protect, and stabilize manufactured housing and manufactured housing communities.
Title III – Manufactured Housing for America:
Sec. 401 – Creating Incentives for Small Dollar Loan Originators This section requires the Consumer Financial Protection Bureau (CFPB) to issue a report to Congress studying the effect of various aspects of loan originator compensation on the availability of small-dollar mortgage loans and to assess the barriers they pose to the availability of small-dollar mortgages to consumers.
Sec. 402 – Small Dollar Mortgage Points and Fees
This section requires the CFPB and the Federal Housing Finance Agency (FHFA) to evaluate the impact of existing regulations that limit the points and fees that lenders can charge on qualified mortgage loans, which vary by loan limit.
Sec. 403 – Appraisal Industry Improvement Act
This section helps bolster appraiser workforce capacity, including by allowing both licensed and credentialed appraisers to conduct appraisals for FHA-insured mortgage lending transactions.
Sec. 404 – Helping More Families Save Act
This section authorizes a pilot program under HUD’s Family Self-Sufficiency (FSS) initiative to promote economic mobility and homeownership by enabling more families to grow their household savings.
Sec. 405 – Choice in Affordable Housing Act
This section reduces HUD inspection delays by allowing units that are financed through other federal housing programs to automatically satisfy voucher inspection requirements if inspected within the past year. Additionally, the bill permits new landlords to request pre-inspections to increase access to housing and encourage landlord participation.
Title IV – Accessing the American Dream:
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Sec. 501 – HOME Investment Partnerships Reauthorization and Reform Act This section reforms and reauthorizes the HOME Investment Partnerships Program. It makes critical updates to improve program administration and facilitate the construction of more affordable housing.
Sec. 502 – Rural Housing Service Reform Act
This section reforms the United States Department of Agriculture’s (USDA) Rural Housing Service, including by decoupling rental assistance from maturing mortgages to preserve affordable housing in rural areas. This section will help preserve housing access for 400,000 rural families.
Sec. 503 – Incentivizing Local Solutions to Homelessness This section allows states and localities that receive Emergency Solutions Grant funding to request a waiver of the statutory 60 percent spending cap on emergency shelter beds and street outreach.
Sec. 504 – Reforming Disaster Recovery Act
This section authorizes the Community Development Block Grant–Disaster Recovery (CDBG-DR) program for three years and establishes the Office of Disaster Management and Resiliency within HUD to administer the program.
Sec. 505 – New Moving to Work Cohort
This section authorizes a Moving to Work expansion cohort with targeted flexibilities to improve program administration and tenant outcomes.
Title V – Program Reform:
Sec. 601 – Military Service Question
This section adds a disclosure to Fannie Mae and Freddie Mac’s uniform residential loan application form to ensure that veterans are made aware of their home loan benefits through the Department of Veterans Affairs (VA), which may provide a more affordable lending option.
Sec. 602 – Housing Unhoused Disabled Veterans Act
This section permanently excludes veterans’ disability compensation from annual income calculations under the HUD-VASH program to help more homeless veterans access VA housing.
Sec. 603 – Veterans Affairs Loan Informed Disclosure (VALID) Act This section improves transparency for veteran homebuyers by requiring FHA mortgage disclosures to include cost comparison information to make veterans aware of their home loan benefits through the VA and help them compare those options to FHA financing, with important privacy considerations.
Title VI – Veterans and Housing:
Sec. 701 – Requiring Annual Testimony and Oversight from Housing Regulators This section requires the HUD Secretary to testify annually before Congress on the Department’s operations, oversight activities, and program performance.
Title VII – Oversight and Accountability:
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Sec. 702 – FHA Reporting Requirements on Safety and Soundness This section requires HUD to report monthly to Congress on the state of the statutorily required capital ratio of the Mutual Mortgage Insurance Fund, and to notify Congress if that ratio falls below statutorily required levels.
Sec. 703 – United States Interagency Council on Homelessness (USICH) Oversight This section requires USICH to provide an update on the status of the plan to reduce homelessness in its annual planning process and requires annual USICH Congressional testimony, if requested.
Sec. 704 – Appraisal Modernization Act
This section requires USDA, FHA, and FHFA to implement and maintain requirements that federally backed mortgage lenders have a review and resolution procedure for consumer-initiated second appraisals, or reconsiderations of value, when they believe there may be an issue with their appraised home value.
Sec. 801 – HUD-USDA-VA Interagency Coordination Act
This section directs HUD, USDA, and the VA to identify areas for collaboration to streamline and improve housing program implementation.
Sec. 802 – Streamlining Rural Housing Act
This section directs HUD and USDA to coordinate on joint environmental reviews for housing projects funded by both agencies.
Sec. 803 – Improving Self-Sufficiency of Families in HUD-Subsidized Housing This section directs HUD to conduct a study on the implementation of work requirements by public housing agencies, with an assessment of the challenges and benefits of work requirements on public housing agencies and families, including the effects on homelessness, poverty, asset building, job attainment, and public housing agency administrative capacity.
Sec. 804 – GAO Studies
This section directs the Government Accountability Office (GAO) to study key housing issues to help advance housing and economic opportunities.
Sec. 805 – Improving Public Housing Agency Accountability This section subjects public housing agencies (PHAs) to additional disclosure and oversight requirements, including enhanced reporting requirements for PHAs that are in receivership or subject to a monitor. It also adds certain requirements for the HUD Inspector General as it relates to PHA oversight.
Title VIII – Accountability, Coordination, Studies, & Reporting:
Sec. 901 – Community Bank Deposit Access
This section establishes that custodial deposits of an insured depository institution are not considered to be brokered deposits if the total amount does not exceed 20% of an institution’s total liabilities and the institution has less than $10 billion in assets.
Title IX – Strengthening Community Banks’ Role in Housing:
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Sec. 902 – Keeping Deposits Local
Sec. 903 – Tailored Regulatory Updates for Supervisory Testing Sec. 904 – Credit Union Board Modernization
This section modifies the amount of reciprocal deposits of an insured depository institution that are not considered to be brokered deposits under a graduated scale based on an institution’s total liabilities. The institution is also required to be well-capitalized and receive strong supervisory ratings from its regulators.
This section raises the consolidated asset threshold from $3 billion to $6 billion for insured depository institutions to qualify for an 18-month examination cycle.
This section amends the Federal Credit Union Act to revise the frequency of meetings that a federal credit union's board of directors is required to hold.
Sec. 905 – Systemic Risk Authority Transparency
This section requires the GAO and appropriate Federal banking regulators to issue reports within specified timeframes when the Federal Deposit Insurance Corporation (FDIC) invokes the systemic risk exception, detailing causes of bank failures, regulatory actions, and any management or supervisory shortcomings.
Sec. 906 – Advancing the Mentor-Protégé Program for Small Financial Institutions Sec. 907 – American Access to Banking
This section directs the Department of the Treasury to establish a mentor-protégé program pairing large financial institutions with other depository institutions, with the goal of enhancing their capacity to serve customers and potentially act as financial agents.
This section directs Federal banking and credit union regulators to streamline the de novo application process, reduce duplicative information requests, and review capital-raising restrictions, particularly for non-accredited investors.
Sec. 908 – Promoting New Bank Formation
This section creates a two-year phase-in pilot for de novo financial institutions to meet Federal capital requirements.
Sec. 909 – Rural Depositories Revitalization Study
This section requires Federal prudential regulators to jointly study ways to improve the growth, capital adequacy, and profitability of rural depository institutions and to identify regulatory barriers to these goals and to the formation of new depository institutions, with a report to Congress due within one year of enactment.
Sec. 1001 – Homes Are For People, Not Corporations
This section prohibits large institutional investors from purchasing certain single-family homes to promote homeownership opportunities for American families, not corporations.
Title X – Home-Ownership for Main Street America:
Sec. 1101 – Central Bank Digital Currency
This section pauses the Federal Reserve from issuing a central bank digital currency.
Title XI – Central Bank Digital Currency:
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Sec. 1201 – Severability
This section provides a severability clause for the legislation.
Sec. 1202 — No Additional Funds Authorized
This section ensures that certain legislative requirements are met.
Title XII – Miscellaneous: