Other
Providing for the concurrence by the House in the Senate amendment to H.R. 6644, with amendment.
This bill aims to expand the nation's housing supply and help more families buy or repair homes. It prohibits large corporate investors—those managing 350 or more properties—from purchasing single-family houses, keeping more of these homes available for individual buyers. Additionally, the bill simplifies federal environmental reviews for home building on already-developed land, sets up a grant program to help low-income homeowners perform home repairs, and establishes a pilot program to support small-dollar mortgages.
People affected—The operative text does not provide a specific count of the total number of individuals, homebuyers, or tenants affected by the programs, limits, or prohibitions. It defines 'large institutional investors' as those controlling 350 or more single-family homes, but the total population of affected tenants or prospective buyers is not determinable from the text.
Fiscal magnitude$1.1Bprovisional · pending reviewThe bill authorizes $200,000,000 annually for each of fiscal years 2027 through 2031 for a competitive housing supply grant program (Sec. 106 / H.R. 6644). It also reduces the Federal Reserve surplus fund limit by $115,000,000 effective September 30, 2035. Other provisions authorize unspecified sums ('utilizing funds appropriated for such purposes') or state that no additional funds are authorized. Therefore, the explicit authorized appropriation is $1,000,000,000 ($200M x 5 years) plus the $115,000,000 Federal Reserve reduction.
Reach78provisional · pending reviewrigor: heuristic llm
What this bill touches.
Banking/financial rules−45Market protections+22Corporate concentration+55Land use & zoning−68Renters & rent+30Pollution & development−52Personal data & privacy+18Disability access+30Role of governmentRegulation (cross-sector)−38Welfare & anti-poverty+32Public works+24
Who it helps · who it burdens.
Who it helps
- low-income homebuyersReceive competitive grants, closing-cost grants, and direct payments to lenders to increase access to mortgages of $100,000 or less under a new 4-year FHA pilot program [6].
- low-income homeownersGain access to a new pilot program providing grants for home repairs to low-income homeowners and landlords [11].
- landlordsGain access to home repair grants under a new pilot program through October 1, 2031 [11].
- very low-income rural homeownersBenefit from an increased loan limit for very low-income home repair loans, which rises from $7,500 to $15,000 [24].
- rural rental housing voucher holdersBenefit from a process allowing voucher amounts to be adjusted when they experience a reduction in income or rent increases [25].
- disabled veteransBenefit from the exclusion of VA disability benefits from tenant income calculations when determining eligibility for renting apartments on VA property [27].
- home-based child care providersBenefit from the exclusion of licensed or registered home-based child care businesses from USDA rural home loan program restrictions [26].
- de novo banks and credit unionsBenefit from a streamlined application process, caseworker assignment systems, and a mentoring network to assist with chartering, capital raising, and insurance applications [32].
- newly insured banksAre permitted to phase in federal capital requirements over a 2-year period [33].
- national and state member banksBenefit from an increased limit on public welfare investments they can make in their communities, rising from 15 percent to 20 percent of their capital and surplus [12].
- small depository institutionsAre eligible for an extended 18-month safety and soundness exam cycle as the asset threshold is raised from $3 billion to $6 billion [29].
- credit union boards of directorsAre permitted to meet at least six times per year instead of monthly [30].
Who it burdens
- large institutional investorsAre prohibited from purchasing any additional single-family homes, subject to civil penalties of up to $1 million per violation or three times the purchase price [34].
- local jurisdictions receiving CDBG fundsMust certify they are taking actions to overcome regulatory barriers to affordable housing starting October 1, 2026, to receive Community Development Block Grants [5].
- public housing agencies under federal receivershipMust submit annual progress reports to Congress and post all active vendor contracts on their public websites [28].
Who backs it
- violators of the institutional investor home purchase banFinances the HOME Investment Partnerships program through collected civil penalties assessed on large institutional investors who violate the single-family home purchase prohibition [34].