H.R. 6771

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6771 Introduced in House (IH)]

<DOC>

119th CONGRESS
1st Session
H. R. 6771

To facilitate the development of fair and affordable housing, decrease 
housing costs, and for other purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

December 17, 2025

Ms. Waters introduced the following bill; which was referred to the 
Committee on Appropriations, and in addition to the Committee on 
Financial Services, for a period to be subsequently determined by the 
Speaker, in each case for consideration of such provisions as fall 
within the jurisdiction of the committee concerned

_______________________________________________________________________

A BILL

To facilitate the development of fair and affordable housing, decrease 
housing costs, and for other purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title.--This Act may be cited as the ``Housing Crisis 
Response Act of 2025''.
(b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
TITLE I--CREATING AND PRESERVING AFFORDABLE, EQUITABLE, AND ACCESSIBLE 
HOUSING FOR THE 21ST CENTURY

Sec. 101. Public housing investments.
Sec. 102. Investments in affordable and accessible housing production.
Sec. 103. Housing investment fund.
Sec. 104. Section 811 supportive housing for people with disabilities.
Sec. 105. Section 202 supportive housing for the elderly program.
Sec. 106. Improving energy efficiency or water efficiency or climate 
resilience of affordable housing.
Sec. 107. Revitalization of distressed multifamily properties.
Sec. 108. Investments in rural rental housing.
Sec. 109. Housing vouchers.
Sec. 110. Project-based rental assistance.
Sec. 111. Investments in Native American Communities.
Sec. 112. Increased affordable housing program investment.
Sec. 113. Promoting housing accessibility and visitability.
TITLE II--21ST CENTURY SUSTAINABLE AND EQUITABLE COMMUNITIES

Sec. 201. Community development block grant funding for affordable 
housing and infrastructure.
Sec. 202. Lead-based paint hazard control and housing-related health 
and safety hazard mitigation in housing of 
families with lower incomes.
Sec. 203. Unlocking possibilities program.
Sec. 204. Strengthening resilience under national flood insurance 
program.
Sec. 205. Community Restoration and Revitalization Fund.
Sec. 206. Fair housing activities and investigations.
Sec. 207. Intergovernmental fair housing activities and investigations.
TITLE III--HOMEOWNERSHIP INVESTMENTS

Sec. 301. First-Generation Downpayment Assistance.
Sec. 302. Home loan program.
Sec. 303. HUD-insured small dollar mortgage demonstration program.
Sec. 304. Investments in rural homeownership.
TITLE IV--HUD ADMINISTRATION, CAPACITY BUILDING, TECHNICAL ASSISTANCE, 
AND AGENCY OVERSIGHT

Sec. 401. Program administration, training, technical assistance, 
capacity building, and oversight.
Sec. 402. Community-led capacity building.

TITLE I--CREATING AND PRESERVING AFFORDABLE, EQUITABLE, AND ACCESSIBLE 
HOUSING FOR THE 21ST CENTURY

SEC. 101. PUBLIC HOUSING INVESTMENTS.

(a) Appropriation.--In addition to amounts otherwise made 
available, there is appropriated to the Secretary of Housing and Urban 
Development (in this section referred to as the ``Secretary'') for 
fiscal year 2026, out of any money in the Treasury not otherwise 
appropriated--
(1) $10,000,000,000, to remain available until September 
30, 2033, for the Capital Fund under section 9(d) of the United 
States Housing Act of 1937 (42 U.S.C. 1437g(d)) pursuant to the 
same formula as in fiscal year 2021, to be made available 
within 60 days of the date of the enactment of this Act;
(2) $53,000,000,000, to remain available until September 
30, 2028, for eligible activities under section 9(d)(1) of the 
United States Housing Act of 1937 (42 U.S.C. 1437g(d)(1)) for 
priority investments as determined by the Secretary to repair, 
replace, or construct properties assisted under such section 9;
(3) $1,200,000,000, to remain available until September 30, 
2028, for competitive grants under section 24 of the United 
States Housing Act of 1937 (42 U.S.C. 1437v) (in this section 
referred to as ``section 24''), under the terms and conditions 
in subsection (b), for transformation, rehabilitation, and 
replacement housing needs of public and assisted housing, and 
to transform neighborhoods of poverty into functioning, 
sustainable mixed-income neighborhoods;
(4) $750,000,000, to remain available until September 30, 
2033, for the costs to the Secretary of administering and 
overseeing the implementation of this section and the Public 
Housing Capital Fund and the section 24 grant program 
generally, including information technology, financial 
reporting, research and evaluation, other cross-program costs 
in support of programs administered by the Secretary in this 
title, and other costs; and
(5) $50,000,000, to remain available until September 30, 
2033, to make new awards or increase prior awards to existing 
technical assistance providers to provide an increase in 
capacity building and technical assistance available to 
entities eligible for funding for activities or projects 
consistent with this section.
(b) Terms and Conditions for Section 24 Grants.--Grants awarded 
under subsection (a)(3) shall be subject to terms and conditions 
determined by the Secretary, which shall include the following:
(1) Use.--Grant funds may be used for resident and 
community services, community development and revitalization, 
and affordable housing needs in the community.
(2) Applicants.--Eligible recipients of grants shall 
include lead applicants and joint applicants, as follows:
(A) Lead applicants.--A lead applicant shall be a 
local government, a public housing agency, or an owner 
of an assisted housing property.
(B) Joint applicants.--A nonprofit organization or 
a for-profit developer may apply jointly as a joint 
applicant with such public entities specified in 
subparagraph (A). A local government must be a joint 
applicant with an owner of an assisted housing property 
specified in subparagraph (A).
(3) Period of affordability.--Grantees shall commit to a 
period of affordability determined by the Secretary of not 
fewer than 20 years, but the Secretary may specify a period of 
affordability that is fewer than 20 years with respect to 
homeownership units developed with section 24 grants.
(4) Environmental review.--For purposes of environmental 
review, a grantee shall be treated as a public housing agency 
under section 26 of the United States Housing Act of 1937 (42 
U.S.C. 1437x).
(5) Low-income and affordable housing.--Amounts made 
available under this section shall be used for low-income 
housing (as such term is defined under section 3(b) of the 
United States Housing Act of 1937 (42 U.S.C. 1437a(b))), HUD-
assisted housing, and affordable housing, which shall be 
housing for which the owner of the project shall record an 
affordability use restriction approved by the Secretary for 
households earning up to 120 percent of the area median income 
and is subject to the period of affordability under paragraph 
(3) of this subsection.
(c) Other Terms and Conditions.--Grants awarded under this section 
shall be subject to the following terms and conditions:
(1) Limitation.--Amounts provided pursuant to this section 
may not be used for operating costs or rental assistance.
(2) Development of new units.--Paragraph (3) of section 
9(g) of the United States Housing Act of 1937 (42 U.S.C. 
1437g(g)(3)) shall not apply to new funds made available under 
this section.
(3) Health and safety.--Amounts made available under this 
section shall be used to address health, safety, and 
environmental hazards, including lead, fire, carbon monoxide, 
mold, asbestos, radon, pest infestation, and other hazards as 
defined by the Secretary.
(4) Energy efficiency and resilience.--Amounts made 
available under this section shall advance improvements to 
energy and water efficiency or climate and disaster resilience 
in housing assisted under this section.
(5) Recapture.--If the Secretary recaptures funding 
allocated by formula from a public housing agency under 
subsection (a)(1), such recaptured amounts shall be added to 
the amounts available under subsection (a)(2), and shall be 
obligated by the Secretary prior to the expiration of such 
funds.
(6) Supplementation of funds.--The Secretary shall ensure 
that amounts provided pursuant to this section shall serve to 
supplement and not supplant other amounts generated by a 
recipient of such amounts or amounts provided by other Federal, 
State, or local sources.
(d) Implementation.--The Secretary shall have authority to issue 
such regulations or notices, or other guidance, forms, instructions, 
and publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 102. INVESTMENTS IN AFFORDABLE AND ACCESSIBLE HOUSING PRODUCTION.

(a) Appropriation.--In addition to amounts otherwise made 
available, there is appropriated to the Secretary of Housing and Urban 
Development (in this section referred to as the ``Secretary'') for 
fiscal year 2026, out of any money in the Treasury not otherwise 
appropriated--
(1) $9,925,000,000, to remain available until September 30, 
2028, for activities and assistance for the HOME Investment 
Partnerships Program (in this section referred to as the ``HOME 
program''), as authorized under sections 241 through 242, 244 
through 253, 255 through 256, and 281 through 290 of the 
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 
12741-12742, 42 U.S.C. 12744-12753, 42 U.S.C. 12755-12756, 42 
U.S.C. 12831-12840) (in this section referred to as ``NAHA''), 
subject to the terms and conditions paragraph (1)(A) of 
subsection (b);
(2) $14,925,000,000, to remain available until September 
30, 2028, for activities and assistance for the HOME Investment 
Partnerships Program, as authorized under sections 241 through 
242, 244 through 253, 255 through 256, and 281 through 290 of 
the Cranston-Gonzalez National Affordable Housing Act (42 
U.S.C. 12741-12742, 42 U.S.C. 12744-12753, 42 U.S.C. 12755-
12756, 42 U.S.C. 12831-12840), subject to the terms and 
conditions in paragraphs (1)(B) and (2) of subsection (b);
(3) $50,000,000, to remain available until September 30, 
2033, to make new awards or increase prior awards to existing 
technical assistance providers to provide an increase in 
capacity building and technical assistance available to any 
grantees implementing activities or projects consistent with 
this section; and
(4) $100,000,000, to remain available until September 30, 
2033, for the costs to the Secretary of administering and 
overseeing the implementation of this section and the HOME and 
Housing Trust Fund programs generally, including information 
technology, financial reporting, research and evaluations, and 
other cross-program costs in support of programs administered 
by the Secretary in this title, and other costs.
(b) Terms and Conditions.--
(1) Formulas.--
(A) The Secretary shall allocate amounts made 
available under subsection (a)(1) pursuant to section 
217 of NAHA (42 U.S.C. 12747) to grantees that received 
allocations pursuant to that same formula in fiscal 
year 2023 and shall make such allocations within 60 
days of the enactment of this Act.
(B) The Secretary shall allocate amounts made 
available under subsection (a)(2) pursuant to the 
formula specified in section 1338(c)(3) of the Federal 
Housing Enterprises Financial Safety and Soundness Act 
of 1992 (12 U.S.C. 4568(c)(3)) to grantees that 
received Housing Trust Fund allocations pursuant to 
that same formula in fiscal year 2023 and shall make 
such allocations within 60 days of the date of the 
enactment of this Act.
(2) Eligible activities.--Other than as provided in 
paragraph (5) of this subsection, funds made available under 
subsection (a)(2) may only be used for eligible activities 
described in subparagraphs (A) through (B)(i) of section 
1338(c)(7) of the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 4568(c)(7)), except that 
not more than 10 percent of funds made available may be used 
for activities under such subparagraph (B)(i).
(3) Funding restrictions.--The commitment requirements in 
section 218(g) (42 U.S.C. 12748(g)) of NAHA, the matching 
requirements in section 220 (42 U.S.C. 12750) of NAHA, and the 
set-aside for housing developed, sponsored, or owned by 
community housing development organizations required in section 
231 of NAHA (42 U.S.C. 12771) shall not apply for amounts made 
available under this section.
(4) Reallocation.--For funds provided under paragraphs (1) 
and (2) of subsection (a), the Secretary may recapture certain 
amounts remaining available to a grantee under this section or 
amounts declined by a grantee, and reallocate such amounts to 
other grantees under that paragraph to ensure fund expenditure, 
geographic diversity, and availability of funding to 
communities within the State from which the funds have been 
recaptured.
(5) Administration.--Notwithstanding subsections (c) and 
(d)(1) of section 212 of NAHA (42 U.S.C. 12742), grantees may 
use not more than 15 percent of their allocations under this 
section for administrative and planning costs.
(c) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 103. HOUSING INVESTMENT FUND.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated for fiscal year 2026, out of any money in the 
Treasury not otherwise appropriated, to remain available until 
September 30, 2028--
(1) $740,000,000 to the Department of the Treasury to 
establish the Housing Investment Fund established by this 
section within the Community Development Financial Institutions 
Fund (in this section referred to as the ``CDFI Fund'') to make 
grants to increase investment in the development, preservation, 
rehabilitation, financing, or purchase of affordable housing 
primarily for low-, very-low, and extremely low-income families 
who are renters, and for homeowners with incomes up to 120 
percent of the area median income, and for economic development 
and community facilities related to such housing and to further 
fair housing; and
(2) $10,000,000 for the costs to the CDFI Fund of 
administering and overseeing the implementation of this 
section, including information technology, financial reporting, 
research and evaluations, and other costs.
(b) Eligible Grantees.--A grant under this section may be made, 
pursuant to such requirements as the CDFI Fund shall establish, only 
to--
(1) a CDFI Fund certified community development financial 
institution, as such term is defined in section 103 of the 
Riegle Community Development and Regulatory Improvement Act of 
1994 (12 U.S.C. 4702);
(2) a nonprofit organization having as one of its principal 
purposes the creation, development, or preservation of 
affordable housing, including a subsidiary of a public housing 
authority; or
(3) a consortium comprised of certified community 
development financial institutions, eligible nonprofit housing 
organizations, or a combination of both.
(c) Eligible Uses.--Eligible uses for grant amounts awarded from 
the Housing Investment Fund pursuant to this section shall--
(1) be reasonably expected to result in eligible affordable 
housing activities that support or sustain affordable housing 
funded by a grant under this section and capital from other 
public and private sources; and
(2) include activities--
(A) to provide loan loss reserves;
(B) to capitalize an acquisition fund to acquire 
residential, industrial, or commercial property and 
land for the purpose of the preservation, development, 
or rehabilitation of affordable housing, including to 
support the creation, preservation, or rehabilitation 
of resident-owned manufactured housing communities;
(C) to capitalize an affordable housing fund, for 
development, preservation, rehabilitation, or financing 
of affordable housing and economic development 
activities, including community facilities, if part of 
a mixed-use project, or activities described in this 
paragraph related to transit-oriented development, 
which may also be designated as a focus of such a fund;
(D) to capitalize an affordable housing mortgage 
fund, to facilitate the origination of mortgages to 
buyers that may experience significant barriers to 
accessing affordable mortgage credit, including 
mortgages having low original principal obligations;
(E) for risk-sharing loans;
(F) to provide loan guarantees; and
(G) to fund rental housing operations.
(d) Implementation.--The CDFI Fund shall have the authority to 
issue such regulations, notice, or other guidance, forms, instructions, 
and publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 104. SECTION 811 SUPPORTIVE HOUSING FOR PEOPLE WITH DISABILITIES.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $450,000,000 for capital advances, including amendments 
to capital advance contracts, for supportive housing for 
persons with disabilities, as authorized by section 811(b)(2) 
of the Cranston-Gonzalez National Affordable Housing Act (42 
U.S.C. 8013(b)(2)) (in this section referred to as the 
``Act''), and subject to subsections (a) through (h)(4), (h)(6) 
through (i)(1)(C), and (i)(2) through (m) of such section 811 
(42 U.S.C. 8013(a)-42 U.S.C. 8013(h)(4), 42 U.S.C. 8013(h)(6)-
42 U.S.C. 8013(i)(1)(C), 42 U.S.C. 8013(i)(2)-42 U.S.C. 
8013(m)), and for project rental assistance for supportive 
housing for persons with disabilities under section 811(d)(2) 
of the Act and for project assistance contracts pursuant to 
section 202(h) of the Housing Act of 1959 (Public Law 86-372; 
73 Stat. 667), for project rental assistance to State housing 
finance agencies and other appropriate entities as authorized 
under section 811(b)(3) of the Act, for State housing finance 
agencies;
(2) $7,500,000 for providing technical assistance to 
support State-level efforts to integrate housing assistance and 
voluntary supportive services for residents of housing 
receiving such assistance, which funding may also be used to 
provide technical assistance to applicants and potential 
applicants to understand program requirements and develop 
effective applications, and the Secretary may use amounts made 
available under this paragraph to increase prior awards to 
existing technical assistance providers to provide an immediate 
increase in capacity building and technical assistance; and
(3) $42,500,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and the Supportive Housing for Persons with Disabilities 
program generally, including information technology, financial 
reporting, research and evaluations, other cross-program costs 
in support of programs administered by the Secretary in this 
title, and other costs.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Limitations on Costs.--When awarding grants under paragraph (1) 
of subsection (a), the Secretary shall establish and assess reasonable 
development cost limitations by market area for various types and sizes 
of supportive housing for persons with disabilities. The Secretary 
shall not count owner or sponsor contributions of other funding or 
assistance against the overall cost of a project.
(c) Occupancy Standards.--The owner or sponsor of housing assisted 
with funds provided under this section may, with the approval of the 
Secretary, limit occupancy with the housing to persons with 
disabilities who can benefit from the supportive services offered in 
connection with the housing.
(d) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 105. SECTION 202 SUPPORTIVE HOUSING FOR THE ELDERLY PROGRAM.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $450,000,000 for the Supportive Housing for the Elderly 
Program authorized under section 202 of the Housing Act of 
1959, and subject to subsections (a) through (g), (h)(2) 
through (h)(5), and (i) through (m) of such section 202 (12 
U.S.C. 1701q(a)-12 U.S.C. 1701q(g), 12 U.S.C. 1701q(h)(2)-12 
U.S.C. 1701q(h)(5), 12 U.S.C. 1701q(i)-12 U.S.C. 1701q(m)) (in 
this section referred to as the ``Act''), which shall be used--
(A) for capital advance awards in accordance with 
section 202(c)(1) of the Act to recipients that are 
eligible under the Act;
(B) for new section 8 project-based rental 
assistance contracts under section 8(b) of the United 
States Housing Act of 1937 Act (42 U.S.C. 1437f(b)), 
subject to subsection (c) of this section, with the 
Secretary setting the terms of such project-based 
rental assistance contracts, including the duration and 
provisions regarding rent setting and rent adjustment, 
to support the capital advance projects funded under 
this section; and
(C) for service coordinators;
(2) $7,500,000, to provide technical assistance to support 
State-level efforts to improve the design and delivery of 
voluntary supportive services for residents of any housing 
assisted under the Act and other housing supporting low-income 
older adults, in order to support residents to age-in-place and 
avoid institutional care, as well as to assist applicants and 
potential applicants with project-specific design, and the 
Secretary may use amounts made available under this paragraph 
to increase prior awards to existing technical assistance 
providers to provide an immediate increase in capacity building 
and technical assistance; and
(3) $42,500,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and the Supportive Housing for the Elderly program generally, 
including information technology, financial reporting, research 
and evaluation, other cross-program costs in support of 
programs administered by the Secretary in this title, and other 
costs.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Limitation on Costs.--When awarding grants under paragraph (1) 
of subsection (a), the Secretary shall establish and assess reasonable 
development cost limitations by market area for various types and sizes 
of supportive housing for the elderly. The Secretary shall not count 
owner or sponsor contributions of other funding or assistance against 
the overall cost of a project.
(c) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 106. IMPROVING ENERGY EFFICIENCY OR WATER EFFICIENCY OR CLIMATE 
RESILIENCE OF AFFORDABLE HOUSING.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $1,770,000,000, to remain available until September 30, 
2030, for the cost of providing direct loans, including the 
costs of modifying such loans, and for grants, as provided for 
and subject to terms and conditions in subsection (b), 
including to subsidize gross obligations for the principal 
amount of direct loans, not to exceed $4,000,000,000, to fund 
projects that improve the energy or water efficiency, indoor 
air quality and sustainability improvements, implement low-
emission technologies, materials, or processes, including zero-
emission electricity generation, energy storage, or building 
electrification, electric car charging station installations, 
or address climate resilience of multifamily properties;
(2) $25,000,000, to remain available until September 30, 
2032, for the costs to the Secretary of administering and 
overseeing the implementation of this section, including 
information technology, financial reporting, research and 
evaluation, other cross-program costs in support of programs 
administered by the Secretary in this title, and other costs;
(3) $120,000,000, to remain available until September 30, 
2031, for expenses of contracts administered by the Secretary, 
including to carry out property climate risk, energy, or water 
assessments, due diligence, and underwriting functions for such 
grant and direct loan program; and
(4) $85,000,000, to remain available until September 30, 
2030, for energy and water benchmarking of properties eligible 
to receive grants or loans under this section, regardless of 
whether they actually received such grants, along with 
associated data analysis and evaluation at the property and 
portfolio level, including the development of information 
technology systems necessary for the collection, evaluation, 
and analysis of such data.
(b) Loan and Grant Terms and Conditions.--Amounts made available 
under this section shall be for direct loans, grants, and direct loans 
that can be converted to grants to eligible recipients that agree to an 
extended period of affordability for the property.
(c) Definitions.--As used in this section--
(1) the term ``eligible recipient'' means any owner or 
sponsor of an eligible property; and
(2) the term ``eligible property'' means a property 
receiving project-based assistance pursuant to--
(A) section 202 of the Housing Act of 1959 (12 
U.S.C. 1701q);
(B) section 811 of the Cranston-Gonzalez National 
Affordable Housing Act (42 U.S.C. 8013); or
(C) section 8(b) of the United States Housing Act 
of 1937 (42 U.S.C. 1437f(b)).
(d) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 107. REVITALIZATION OF DISTRESSED MULTIFAMILY PROPERTIES.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $1,550,000,000 for providing direct loans, which may be 
forgivable, to owners of distressed properties for the purpose 
of making necessary physical improvements, including to 
subsidize gross obligations for the principal amount of direct 
loans not to exceed $6,000,000,000, subject to the terms and 
conditions in subsection (b); and
(2) $50,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and the Office of Housing programs generally, including 
information technology, financial reporting, research and 
evaluations, other cross-program costs in support of programs 
administered by the Secretary in this title, and other costs.
Amounts appropriated by this section shall remain available until 
September 30, 2031.
(b) Loan Terms and Conditions.--
(1) Eligibility.--Owners or sponsors of multifamily housing 
projects who meet each of the following requirements shall be 
eligible for loan assistance under this section:
(A) The multifamily housing project, including any 
project from which assistance has been approved to be 
transferred has deficiencies that cause the project to 
be at risk of physical obsolescence or economic non-
viability.
(B) The actual rents received by the owner or 
sponsor of the distressed property would not adequately 
sustain the debt needed to make necessary physical 
improvements.
(C) The owner or sponsor meets any such additional 
eligibility criteria as the Secretary determines to be 
appropriate, considering factors that contributed to 
the project's deficiencies.
(2) Use of loan funds.--Each recipient of loan assistance 
under this section may only use such loan assistance to make 
necessary physical improvements.
(3) Loan availability.--The Secretary shall only provide 
loan assistance to an owner or sponsor of a multifamily housing 
project when such assistance, considered with other financial 
resources available to the owner or sponsor, is needed to make 
the necessary physical improvements.
(4) Interest rates and length.--Loans provided under this 
section shall bear interest at 1 percent, and at origination 
shall have a repayment period coterminous with the 
affordability period established under paragraph (6), with the 
frequency and amount of repayments to be determined by 
requirements established by the Secretary.
(5) Loan modifications or forgiveness.--With respect to 
loans provided under this section, the Secretary may take any 
of the following actions if the Secretary determines that doing 
so will preserve affordability of the project:
(A) Waive any due on sale or due on refinancing 
restriction.
(B) Consent to the terms of new debt to which the 
loans may be subordinate, even if such new debt would 
impact the repayment of the loans.
(C) Extend the term of the loan.
(D) Forgive the loan in whole or in part.
(6) Extended affordability period.--Each recipient of loan 
assistance under this section shall agree to an extended 
affordability period for the project that is subject to the 
loan by extending any existing affordable housing use 
agreements for an additional 30 years or, if the project is not 
currently subject to a use agreement establishing affordability 
requirements, by establishing a use agreement for 30 years.
(7) Matching contribution.--Each recipient of loan 
assistance under this section shall secure at least 20 percent 
of the total cost needed to make the necessary physical 
improvements from non-Federal sources, except in cases where 
the Secretary determines that a lack of financial resources 
qualifies a loan recipient for--
(A) a reduced contribution below 20 percent; or
(B) an exemption to the matching contribution 
requirement.
(8) Additional loan conditions.--The Secretary may 
establish additional conditions for loan eligibility provided 
under this section as the Secretary determines to be 
appropriate.
(9) Properties insured by the secretary.--In the case of 
any property with respect to which assistance is provided under 
this section that has a mortgage insured by the Secretary, the 
Secretary may use funds available under this section as 
necessary to pay for the costs of modifying such loan.
(c) Definitions.--As used in this section--
(1) the term ``multifamily housing project'' means a 
project consisting of five or more dwelling units assisted or 
approved to receive a transfer of assistance, insured, or with 
a loan held by the Secretary or a State or State agency in part 
or in whole pursuant to--
(A) section 8 of the United States Housing Act of 
1937 (42 U.S.C. 1437f), not including subsection 
(o)(13) of such section;
(B) section 202 of the Housing Act of 1959 (12 
U.S.C. 1701q), as amended by section 801 of the 
Cranston-Gonzalez National Affordable Housing Act;
(C) section 202 of the Housing Act of 1959 (former 
12 U.S.C. 1701q), as such section existed before the 
enactment of the Cranston-Gonzalez National Affordable 
Housing Act;
(D) section 811 of the Cranston-Gonzalez National 
Affordable Housing Act (42 U.S.C. 8013); or
(E) section 236 of the National Housing Act (12 
U.S.C. 1715z-1); and
(2) the term ``necessary physical improvements'' means new 
construction or capital improvements to an existing multifamily 
housing project that the Secretary determines are necessary to 
address the deficiencies or that rise to such a level that 
delaying physical improvements to the project would be 
detrimental to the longevity of the project as suitable housing 
for occupancy.
(d) Implementation.--The Secretary shall have the authority to 
issue such regulations, notices, or other guidance, forms, 
instructions, and publications to carry out the programs, projects, or 
activities authorized under this section to ensure that such programs, 
projects, or activities are completed in a timely and effective manner.

SEC. 108. INVESTMENTS IN RURAL RENTAL HOUSING.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Rural Housing Service of the Department of 
Agriculture for fiscal year 2026, out of any money in the Treasury not 
otherwise appropriated--
(1) $1,800,000,000, to remain available until September 30, 
2031, for the Administrator of the Rural Housing Service for 
making loans and grants for new construction, improvements to 
energy and water efficiency or climate resilience, the removal 
of health and safety hazards, and the preservation and 
revitalization of housing for other purposes described under 
section 514 of the Housing Act of 1949 (42 U.S.C. 1484), 
subsections (a)(1) through (a)(2), (b)(1) through (b)(3), 
(b)(5) through (aa)(2)(A), and (aa)(4) of section 515 of such 
Act (42 U.S.C. 1485(a)(1)-42 U.S.C. 1485(a)(2), 42 U.S.C. 
1485(b)(1)-(b)(3), 42 U.S.C. 1485(b)(5)-42 U.S.C. 
1485(aa)(2)(A), 42 U.S.C. 1485(aa)(4)), and 516 of such act (42 
U.S.C. 1486), subject to the terms and conditions in subsection 
(b);
(2) $100,000,000, to remain available until September 30, 
2031, to provide continued assistance pursuant to section 3203 
of the American Rescue Plan Act of 2021; and
(3) $100,000,000, to remain available until September 30, 
2032, for the costs to the Rural Housing Service of the 
Department of Agriculture of administering and overseeing the 
implementation of this section, including information 
technology, financial reporting, research and evaluations, 
other cross-program costs in support of programs administered 
by the Secretary in this title, and other costs.
(b) Preservation and Revitalization Terms and Conditions.--
(1) Loans and grants and other assistance.--The 
Administrator of the Rural Housing Service of the Department of 
Agriculture shall provide direct loans and grants, including 
the cost of modifying loans, to restructure existing Department 
of Agriculture multi-family housing loans expressly for the 
purposes of ensuring the project has sufficient resources to 
preserve the project for the purpose of providing safe and 
affordable housing for low-income residents and farm laborers, 
including--
(A) reducing or eliminating interest;
(B) deferring loan payments;
(C) subordinating, reducing, or re-amortizing loan 
debt; and
(D) providing other financial assistance, including 
advances, payments, and incentives (including the 
ability of owners to obtain reasonable returns on 
investment) required by the Secretary, including such 
assistance to non-profit entities and public housing 
authorities.
(2) Restrictive use agreement.--The Administrator of the 
Rural Housing Service of the Department of Agriculture shall as 
part of the preservation and revitalization agreement obtain a 
restrictive use agreement consistent with the terms of the 
restructuring.
(c) Implementation.--The Administrator of the Rural Housing Service 
of the Department of Agriculture shall have authority to issue such 
regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 109. HOUSING VOUCHERS.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $15,000,000,000, to remain available until September 
30, 2031, for--
(A) incremental tenant-based rental assistance for 
extremely low-income families under section 8(o) of the 
United States Housing Act of 1937 (42 U.S.C. 1437f(o));
(B) renewals of such tenant-based rental 
assistance; and
(C) fees for the costs of administering tenant-
based rental assistance and other expenses related to 
the utilization of voucher assistance under 
subparagraph (A), which may include the cost of 
facilitating the use of voucher assistance provided 
under paragraph (5);
(2) $7,100,000,000, to remain available until September 30, 
2031, for--
(A) incremental tenant-based rental assistance 
under section 8(o) of the United States Housing Act of 
1937 (42 U.S.C. 1437f(o)) for households experiencing 
or at risk of homelessness, survivors of domestic 
violence, dating violence, sexual assault, and 
stalking, and survivors of trafficking;
(B) renewals of such tenant-based rental 
assistance; and
(C) fees for the costs of administering tenant-
based rental assistance and other expenses related to 
the utilization of voucher assistance under 
subparagraph (A), which may include the cost of 
facilitating the use of voucher assistance provided 
under paragraph (5);
(3) $1,000,000,000, to remain available until September 30, 
2033, for--
(A) tenant protection vouchers for relocation and 
replacement of public housing units demolished or 
disposed as part of a public housing preservation or 
project-based replacement transaction using funds made 
available under this title;
(B) renewals of such tenant-based rental 
assistance; and
(C) fees for the costs of administering tenant-
based rental assistance and other expenses related to 
the utilization of voucher assistance under 
subparagraph (A), which may include the cost of 
facilitating the use of voucher assistance provided 
under paragraph (5);
(4) $300,000,000, to remain available until September 30, 
2033, for competitive grants, subject to terms and conditions 
determined by the Secretary, to public housing agencies for 
mobility-related services for voucher families, including 
families with children, and service coordination;
(5) $230,000,000, to remain available until September 30, 
2033, for eligible expenses to facilitate the use of voucher 
assistance under this section and for other voucher assistance 
under section 8(o) of the United States Housing Act of 1937, as 
determined by the Secretary, in addition to amounts otherwise 
available for such expenses, including property owner outreach 
and retention activities such as incentive payments, security 
deposit payments and loss reserves, landlord liaisons, and 
other uses of funds designed primarily--
(A) to recruit owners of dwelling units, 
particularly dwelling units in census tracts with a 
poverty rate of less than 20 percent, to enter into 
housing assistance payment contracts; and
(B) to encourage owners that enter into housing 
assistance payment contracts as described in 
subparagraph (A) to continue to lease their dwelling 
units to tenants assisted under section 8(o) of the 
United States Housing Act of 1937;
(6) $300,000,000, to remain available until September 30, 
2033, for the costs to the Secretary of administering and 
overseeing the implementation of this section and the Housing 
Choice Voucher program generally, including information 
technology, financial reporting, research and evaluations, 
other cross-program costs in support of programs administered 
by the Secretary in this title, and other costs; and
(7) $70,000,000, to remain available until September 30, 
2033, for making new awards or increasing prior awards to 
existing technical assistance providers to provide an increase 
in capacity building and technical assistance available to 
public housing agencies.
(b) Terms and Conditions.--
(1) Allocation.--The Secretary shall allocate initial 
incremental assistance provided for rental assistance under 
subsection (a)(1) and (2) in each fiscal year commencing in 
2026 and ending in 2030 in accordance with a formula or 
formulas that include measures of severe housing need among 
extremely low-income renters and public housing agency 
capacity, and ensures geographic diversity among public housing 
agencies administering the Housing Choice Voucher program.
(2) Election to administer.--The Secretary shall establish 
a procedure for public housing agencies to accept or decline 
the incremental vouchers made available under this section.
(3) Failure to use vouchers promptly.--If a public housing 
agency fails to lease the authorized vouchers it has received 
under this subsection on behalf of eligible families within a 
reasonable period of time, the Secretary may offset the 
agency's voucher renewal allocations and may revoke and 
redistribute any unleased vouchers and associated funds, which 
may include administrative fees and amounts allocated under 
subsections (a)(3) and (a)(4), to other public housing 
agencies.
(4) Limitation of use of funds.-- Public housing agencies 
may use funds received under this section only for the 
activities listed in subsection (a) for which the funds were 
provided to such agency.
(5) Cap on project-based vouchers for vulnerable 
populations.--Upon request by a public housing agency, the 
Secretary may designate a number of the public housing agency's 
vouchers allocated under this section as excepted units that do 
not count against the percentage limitation on the number of 
authorized units a public housing agency may project-base under 
section 8(o)(13)(B) of the United States Housing Act of 1937, 
in accordance with the conditions established by the Secretary. 
This paragraph may not be construed to waive, limit, or specify 
alternative requirements, or permit such waivers, limitations, 
or alternative requirements, related to fair housing and 
nondiscrimination, including the requirement to provide housing 
and services to individuals with disabilities in integrated 
settings.
(6) Homeless waiver authority.-- In administering the 
voucher assistance targeted for households experiencing or at 
risk of homelessness, survivors of domestic violence, dating 
violence, sexual assault, and stalking, and survivors of 
trafficking under subsection (a)(2), the Secretary may, upon a 
finding that a waiver or alternative requirement is necessary 
to facilitate the use of such assistance, waive or specify 
alternative requirements for--
(A) section 8(o)(6)(A) of the United States Housing 
Act of 1937 (42 U.S.C. 1437f(o)(6)(A)) and regulatory 
provisions related to the administration of waiting 
lists and local preferences;
(B) section 214(d)(2) of the Housing and Community 
Development Act of 1980 (42 U.S.C. 1436a(d)(2)), 
section 576(a), (b), and (c) of the Quality Housing and 
Work Responsibility Act of 1998 (42 U.S.C. 13661(a), 
(b), and (c)), and regulatory provisions related to the 
verification of eligibility, eligibility requirements, 
and the admissions process;
(C) section 8(o)((7)(A) of the United States 
Housing Act of 1937 (42 U.S.C. 1437f(o)(7)(A)) and 
regulatory provisions related to the initial lease 
term;
(D) section 8(r)(B)(i) of the United States Housing 
Act of 1937 (42 U.S.C. 1437f(r)(B)(i)) and regulatory 
provisions related to portability moves by non-resident 
applicants; and
(E) regulatory provisions related to the 
establishment of payment standards.
(c) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 110. PROJECT-BASED RENTAL ASSISTANCE.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $880,000,000 for the project-based rental assistance 
program, as authorized under section 8(b) of the United States 
Housing Act of 1937 (42 U.S.C. 1437f(b)), (in this section 
referred to as the ``Act''), subject to the terms and 
conditions of subsection (b) of this section;
(2) $20,000,000 for providing technical assistance to 
recipients of or applicants for project-based rental assistance 
or to States allocating the project-based rental assistance; 
and
(3) $100,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and the section 8 project-based rental assistance program 
generally, including information technology, financial 
reporting, research and evaluations, other cross-program costs 
in support of programs administered by the Secretary in this 
title, and other costs.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Terms and Conditions.--
(1) Authority.--Notwithstanding section 8(a) the Act (42 
U.S.C. 1437f(a)), the Secretary may use amounts made available 
under this section to provide assistance payments with respect 
to newly constructed housing, existing housing, or 
substantially rehabilitated non-housing structures for use as 
new multifamily housing in accordance with this section and the 
provisions of section 8 of the Act. In addition, the Secretary 
may use amounts made available under this section for 
performance-based contract administrators for section 8 
project-based assistance, for carrying out this section and 
section 8 of the Act.
(2) Project-based rental assistance.--The Secretary may 
make assistance payments using amounts made available under 
this section pursuant to contracts with owners or prospective 
owners who agree to construct housing, to substantially 
rehabilitate existing housing, to substantially rehabilitate 
non-housing structures for use as new multifamily housing, or 
to attach the assistance to newly constructed housing in which 
some or all of the units shall be available for occupancy by 
very low-income families in accordance with the provisions of 
section 8 of the Act. In awarding contracts pursuant to this 
section, the Secretary shall give priority to owners or 
prospective owners of multifamily housing projects located or 
to be located in areas of high opportunity, as defined by the 
Secretary, in areas experiencing economic growth or rising 
housing prices to prevent displacement or secure affordable 
housing for low-income households, or that serve people at risk 
of homelessness or that integrate additional units that are 
accessible for persons with mobility impairments and persons 
with hearing or visual impairments beyond those required by 
applicable Federal accessibility standards.
(3) Allocation.--The Secretary shall make awards with 
amounts made available under this section using the following 
mechanisms, alone or in combination:
(A) A competitive process, which the Secretary may 
carry out in multiple rounds of competition, each of 
which may have its own selection, performance, and 
reporting criteria as established by the Secretary.
(B) Selecting proposals submitted through FHA loan 
applications that meet specified criteria.
(C) Delegating to States the awarding of contracts, 
including related determinations such as the maximum 
monthly rent, subject to the requirements of section 8 
of the Act, as determined by the Secretary.
(4) Contract term, rent setting, and rent adjustments.--The 
Secretary may set the terms of the contract, including the 
duration and provisions regarding rent setting and rent 
adjustments.
(c) Implementation.--The Secretary shall have the authority to 
issue such regulations, notices, or other guidance, forms, 
instructions, and publications to carry out the programs, projects, or 
activities authorized under this section to ensure that such programs, 
projects, or activities are completed in a timely and effective manner.

SEC. 111. INVESTMENTS IN NATIVE AMERICAN COMMUNITIES.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $277,500,000 for formula grants for eligible affordable 
housing activities described in section 202 of the Native 
American Housing Assistance and Self-Determination Act of 1996 
(in this section referred to as ``NAHASDA'') (25 U.S.C. 4132), 
which shall be distributed according to the most recent fiscal 
year funding formula for the Indian Housing Block Grant;
(2) $200,000,000 for--
(A) affordable housing activities authorized under 
section 810(a) of NAHASDA (25 U.S.C. 4229);
(B) community-wide infrastructure and 
infrastructure improvement projects carried out on 
Hawaiian Home Lands pursuant to section 810(b)(5) of 
NAHASDA (25 U.S.C. 4229(b)(5)); and
(C) rental assistance to Native Hawaiians (as 
defined in section 801 of NAHASDA (25 U.S.C. 4221)) on 
and off Hawaiian Home Lands;
(3) $277,500,000 for competitive grants for eligible 
affordable housing activities described in section 202 of 
NAHASDA (25 U.S.C. 4132);
(4) $200,000,000 for--
(A) competitive single-purpose Indian community 
development block grants for Indian tribes; and
(B) imminent threat Indian community development 
block grants, including for long-term environmental 
threats and relocation, for Indian tribes, or a tribal 
organization, governmental entity, or nonprofit 
organization designated by the Indian tribe to apply 
for a grant on its behalf;
(5) $25,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and Indian and Native Hawaiian programs administered by the 
Secretary, including information technology, financial 
reporting, research and evaluations, other cross-program costs 
in support of programs administered by the Secretary in this 
title, and other costs; and
(6) $20,000,000 to make new awards or increase prior awards 
to technical assistance providers to provide an immediate 
increase in capacity building and technical assistance to 
grantees.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Reallocation.--Amounts made available under subsection (a)(1) 
that are not accepted within a time specified by the Secretary, are 
voluntarily returned, or are otherwise recaptured for any reason shall 
be used to fund grants under paragraph (3) or (4) of subsection (a).
(c) Undisbursed Funds.--Amounts provided under this Act that remain 
undisbursed may not be used as a basis to reduce any grant allocation 
under section 302 of NAHASDA (25 U.S.C. 4152) to an Indian tribe in any 
fiscal year.
(d) Prohibition on Investments.--Amounts made available under this 
section may not be invested in investment securities and other 
obligations.
(e) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 112. INCREASED AFFORDABLE HOUSING PROGRAM INVESTMENT.

Notwithstanding subsection (j)(5)(C) of section 10 of the Federal 
Home Loan Bank Act (12 U.S.C. 1430), in 2026 and every year thereafter 
until 2031, each Federal Home Loan Bank shall annually contribute 15 
percent of the preceding year's net income of the Federal Home Bank, or 
such prorated sums as may be required to assure that the aggregate 
contribution of the Federal Home Loan Banks shall not be less than 
$100,000,000 for each such year, to support grants or subsidized 
advances through the Affordable Housing Programs established and 
carried out under subparagraphs (j)(1), (2), (3)(A), (3)(C), and (4) 
through (13) of section 10 of such Act.

SEC. 113. PROMOTING HOUSING ACCESSIBILITY AND VISITABILITY.

(a) Accessibility Requirement.--The Secretary of Housing and Urban 
Development shall issue a rule amending sections 8.22 and 8.23 of title 
24, Code of Federal Regulations to require that--
(1) not less than 10 percent of total dwelling units or one 
dwelling unit, whichever is greater, in each multifamily 
housing project shall be accessible for persons with mobility 
impairments; and
(2) in addition to the units meeting the requirements of 
paragraph (1), not less than 5 percent of total dwelling units 
or one dwelling unit, whichever is greater, in each multifamily 
housing project shall be shall be accessible for persons with 
hearing or vision impairments.
(b) Visitability Requirement.--
(1) Requirement.--It shall be unlawful for any person or 
entity, with respect to a covered dwelling unit designed, 
constructed, or commissioned, contracted, or otherwise arranged 
for construction, by the person or entity, to fail to ensure 
that the dwelling unit contains not less than 1 level that 
complies with the Standards for Type C (Visitable) Units of the 
American National Standards Institute (commonly known as ANSI) 
Standards for Accessible and Usable Buildings and Facilities 
(section 1005 of ICC ANSI A117.1-2009) or any successor 
standard.
(2) Definitions.--As used in this subsection:
(A) Covered dwelling unit.--The term ``covered 
dwelling unit'' means a dwelling unit that--
(i) is--
(I) a detached single-family house;
(II) a townhouse or multi-level 
dwelling unit (whether detached or 
attached to other units or structures); 
or
(III) a ground-floor unit in a 
building of not more than 3 dwelling 
units;
(ii) is designed as, or intended for 
occupancy as, a residence;
(iii) was designed, constructed, or 
commissioned, contracted, or otherwise arranged 
for construction, by any person or entity that, 
at any time before the design or construction, 
received or was guaranteed Federal financial 
assistance for any program or activity relating 
to the design, construction, or commissioning, 
contracting, or other arrangement for 
construction, of the dwelling unit; and
(iv) is made available for first occupancy 
on or after the date that is 1 year after the 
date of enactment of this Act.
(B) Federal financial assistance.--The term 
``Federal financial assistance'' means--
(i) any assistance that is provided or 
otherwise made available by the Secretary of 
Housing and Urban Development or the Secretary 
of Veterans Affairs, or under any program or 
activity of the Department of Housing and Urban 
Development or the Department of Veterans 
Affairs, through any grant, loan, contract, or 
any other arrangement, on or after the date 
that is 1 year after the date of enactment of 
this Act, including--
(I) a grant, a subsidy, or any 
other funds;
(II) service provided by a Federal 
employee;
(III) real or personal property or 
any interest in or use of such 
property, including--
(aa) a transfer or lease of 
the property for less than the 
fair market value or for 
reduced consideration; and
(bb) proceeds from a 
subsequent transfer or lease of 
the property if the Federal 
share of the fair market value 
is not returned to the Federal 
Government;
(IV) any--
(aa) tax credit; or
(bb) mortgage or loan 
guarantee or insurance; and
(V) community development funds in 
the form of an obligation guaranteed 
under section 108 of the Housing and 
Community Development Act of 1974 (42 
U.S.C. 5308); and
(ii) any assistance that is provided or 
otherwise made available by the Secretary of 
Agriculture under title V of the Housing Act of 
1949 (42 U.S.C. 1471 et seq.).

TITLE II--21ST CENTURY SUSTAINABLE AND EQUITABLE COMMUNITIES

SEC. 201. COMMUNITY DEVELOPMENT BLOCK GRANT FUNDING FOR AFFORDABLE 
HOUSING AND INFRASTRUCTURE.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $1,735,000,000 for grants in accordance with sections 
101, 102, 103, 104(a) through 104(i), 104(l), 104(m), 105(a) 
through 105(g), 106(a)(2), 106(a)(4), 106(b) through 106(f), 
109, 110, 111, 113, 115, 116, 120, and 122 of the Housing and 
Community Development Act of 1974 (42 U.S.C. 5301, 5302, 5303, 
5304(a)-(i), 5304(l), 5304(m), 5305(a)-(g), 5306(a)(2), 
5306(a)(4), 5306(b)-(f), 5309, 5310, 5311, 5313, 5315, 5316, 
5319, and 5321) to grantees under subsections (a)(2) and (4) 
and (d) of section 106 of such Act (42 U.S.C. 5306(a)(2), 
(a)(4), and (d)), subject to subsection (b) of this section, 
except that for purposes of amounts made available by this 
paragraph, paragraph (2) of such section 106(a) shall be 
applied by substituting ``$70,000,000'' for ``$7,000,000'';
(2) $700,000,000 for grants in accordance with sections 
101, 102, 103, 104(a) through 104(i), 104(l), 104(m), 105(a) 
through 105(g), 106(a)(2), 106(a)(4), 106(b) through 106(f), 
109, 110, 111, 113, 115, 116, 120, and 122 of title I of the 
Housing and Community Development Act of 1974 (42 U.S.C. 5301, 
5302, 5303, 5304(a)-(i), 5304(l), 5304(m), 5305(a)-(g), 
5306(a)(2), 5306(a)(4), 5306(b)-(f), 5309, 5310, 5311, 5313, 
5315, 5316, 5319, and 5321) to community development block 
grant grantees, as determined by the Secretary, under 
subsections (a)(4) and (b) through (f) of section 106 of such 
Act (5306(a)(4) and 5306(b)-(f)), only for colonias, to address 
the community and housing infrastructure needs of existing 
colonia residents based on a formula that takes into account 
persons in poverty in the colonia areas, except that grantees 
may use funds in colonias outside of the 150-mile border area 
upon approval of the Secretary;
(3) $500,000,000 for grants in accordance with sections 
101, 102, 103, 104(a) through 104(i), 104(l), 104(m), 105(a) 
through 105(g), 106(a)(2), 106(a)(4), 106(b) through 106(f), 
109, 110, 111, 113, 115, 116, 120, and 122 of title I of the 
Housing and Community Development Act of 1974 (42 U.S.C. 5301, 
5302, 5303, 5304(a)-(i), 5304(l), 5304(m), 5305(a)-(g), 
5306(a)(2), 5306(a)(4), 5306(b)-(f), 5309, 5310, 5311, 5313, 
5315, 5316, 5319, and 5321), to eligible recipients under 
subsection (c) of this section for manufactured housing 
infrastructure improvements in eligible manufactured home 
communities;
(4) $87,500,000 for the costs to the Secretary of 
administering and overseeing the implementation of this 
section, the Community Development Block Grant program, and the 
manufactured home construction and safety standards program 
generally, including information technology, financial 
reporting, research and evaluations, other cross-program costs 
in support of programs administered by the Secretary in this 
title, and other costs; and
(5) $27,500,000 for providing technical assistance to 
recipients of or applicants for grants under this section.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Housing Construction.--Expenditures on new construction of 
housing shall be an eligible expense for a recipient of funds made 
available under this section that is not a recipient of funds under 
section 40002 of this title.
(c) Manufactured Housing Community Improvement Grant Program.--
(1) Establishment.--The Secretary of Housing and Urban 
Development shall carry out a competitive grant program to 
award funds appropriated under subsection (a)(3) to eligible 
recipients to carry out eligible projects for improvements in 
eligible manufactured home communities.
(2) Eligible projects.--Amounts from grants under this 
subsection shall be used to assist in carrying out a project 
for construction, reconstruction, repair, or clearance of 
housing, facilities and improvements in or serving a 
manufactured housing community that is necessary to protect the 
health and safety of the residents of the manufactured housing 
community and the long-term sustainability of the community.
(d) Definitions.--For purposes of this section, the following 
definitions shall apply:
(1) Colonia area.--The term ``colonia area'' means any 
census tract that--
(A) is an area of the United States within 150 
miles of the contiguous border between the United 
States and Mexico, except as otherwise determined by 
the Secretary; and
(B) lacks potable water supply, adequate sewage 
systems, or decent, safe, sanitary housing, or other 
objective criteria as approved by the Secretary.
(2) Eligible manufactured home community.--The term 
``eligible manufactured home community'' means a community 
that--
(A) is affordable to low- and moderate-income 
persons (as such term is defined in section 102(a) of 
the Housing and Community Development Act of 1974 (42 
U.S.C. 5302(a))); and
(B)(i) is owned by the residents of the 
manufactured housing community through a resident-
controlled entity, as defined by the Secretary, in 
which at least two-thirds of residents are member-
owners of the land-owning entity; or
(ii) will be maintained as such a community, and 
remain affordable for low- and moderate-income 
families, to the maximum extent practicable and for the 
longest period feasible.
(3) Eligible recipient.--The term ``eligible recipient'' 
means a partnership of--
(A) a grantee under paragraph (2) or (4) of section 
106(a) or section 106(d) of the Housing and Community 
Development Act of 1974 (42 U.S.C. 5306(a)(2), (a)(4), 
and (d)); and
(B) an eligible manufactured home community, a 
nonprofit entity, or a consortia of nonprofit entities 
working with an eligible manufactured home community.
(4) Manufactured home community.--The term ``manufactured 
home community'' means any community, court, or park equipped 
to accommodate manufactured homes for which pad sites, with or 
without existing manufactured homes or other allowed homes, or 
other suitable sites, are used primarily for residential 
purposes, with any additional requirements as determined by the 
Secretary, including any manufactured housing community as such 
term is used for purposes of the program of the Federal 
National Mortgage Association for multifamily loans for 
manufactured housing communities and the program of the Federal 
Home Loan Mortgage Corporation for loans for manufactured 
housing communities.
(e) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 202. LEAD-BASED PAINT HAZARD CONTROL AND HOUSING-RELATED HEALTH 
AND SAFETY HAZARD MITIGATION IN HOUSING OF FAMILIES WITH 
LOWER INCOMES.

(a) Appropriation.--In addition to amounts otherwise made 
available, there is appropriated to the Secretary of Housing and Urban 
Development (in this section referred to as the ``Secretary'') for 
fiscal year 2026, out of any money in the Treasury not otherwise 
appropriated--
(1) $3,425,000,000 for grants to States, units of general 
local government, Indian tribes or their tribally designated 
housing entities, and nonprofit organizations for the 
activities under subsection (c) in target housing units that do 
not receive Federal housing assistance other than assistance 
provided under subsection 8(o) of the United States Housing Act 
of 1937 (42 U.S.C. 1437f(o)), excluding paragraph (o)(13) of 
such section, and common areas servicing such units, where low-
income families reside or are expected to reside;
(2) $250,000,000 for grants to States or units of general 
local government or nonprofit entities for the activities in 
subsection (c) in target housing units, and common areas 
servicing such units, that are being assisted under the 
Weatherization Assistance Program authorized under part A of 
title IV of the Energy Conservation and Production Act (42 
U.S.C. 6861-6872) but are not assisted under any other Federal 
housing program other than subsection 8(o) of the United States 
Housing Act of 1937 (42 U.S.C. 1437f(o)), excluding paragraph 
8(o)(13) of such section;
(3) $1,000,000,000 for grants to owners of a property 
receiving project-based rental assistance under section 8 of 
the United States Housing Act of 1937 (42 U.S.C. 1437f), 
including under subsection (o)(13) of such section, that meets 
the definition of target housing and that has not received a 
grant for similar purposes under this Act, for the activities 
in subsection (c), except for abatement of lead-based paint by 
enclosure or encapsulation, or interim controls of lead-based 
paint hazards in target housing units receiving such assistance 
and common areas servicing such units;
(4) $75,000,000 for costs related to training and technical 
assistance to support identification and mitigation of lead and 
housing-related health and safety hazards, research, and 
evaluation; and
(5) $250,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this 
section, and the Secretary's lead hazard reduction and related 
programs generally including information technology, financial 
reporting, research and evaluations, other cross-program costs 
in support of programs administered by the Secretary in this 
title, and other costs.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Terms and Conditions.--
(1) Income eligibility determinations.--The Secretary may 
make income determinations of eligibility for enrollment of 
housing units for assistance under this section that are 
consistent with eligibility requirements for grants awarded 
under other Federal means-tested programs, provided such 
determination does not require additional action by other 
Federal agencies.
(2) Housing families with young children.--An owner of 
rental property that receives assistance under subsection 
(a)(3) shall give priority in renting units for which the lead-
based paint has been abated pursuant to subsection (a)(3), for 
not less than 3 years following the completion of lead 
abatement activities, to families with a child under the age of 
6 years.
(3) Administrative expenses.--A recipient of a grant under 
this section may use up to 10 percent of the grant for 
administrative expenses associated with the activities funded 
by this section.
(c) Eligible Activities.--Grants awarded under this section shall 
be used for purposes of building capacity and conducting activities 
relating to testing, evaluating, and mitigating lead-based paint, lead-
based paint hazards, and housing-related health and safety hazards; 
outreach, education, and engagement with community stakeholders, 
including stakeholders in disadvantaged communities; program evaluation 
and research; grant administration, and other activities that directly 
or indirectly support the work under this section, as applicable, that 
without which such activities could not be conducted.
(d) Definitions.--For purposes of this section, the following 
definitions, and definitions in paragraphs (1), (2), (3), (5), (6), 
(7), (10) through (17), and (20) through (27) of section 1004 of the 
Residential Lead-Based Paint Hazard Reduction Act of 1992 (42 U.S.C. 
4851b(1)-(3), 42 U.S.C. 4851b(5)-(7), 42 U.S.C. 4851b(10)-(17), 42 
U.S.C. 4851b(20)-(27), shall apply:
(1) Nonprofit; nonprofit organization.--The terms 
``nonprofit'' and ``nonprofit organization'' mean a 
corporation, community chest, fund, or foundation not organized 
for profit, but organized and operated exclusively for 
religious, charitable, scientific, testing for public safety, 
literary, or educational purposes; or an organization not 
organized for profit but operated exclusively for the promotion 
of social welfare.
(2) Public housing; public housing agency; low-income 
family.--The terms ``public housing'', ``public housing 
agency'', and ``low-income family'' have the same meaning given 
such terms in section 3(b) of the United States Housing Act of 
1937 (42 U.S.C. 1437a(b)).
(3) State; unit of general local government.--The terms 
``State'' and ``unit of general local government'' have the 
same meaning given such terms in section 102 of the Housing and 
Community Development Act of 1974 (42 U.S.C. 5302).
(e) Grant Compliance.--For any grant of assistance under this 
section, a State or unit of general local government may assume 
responsibilities for elements of grant compliance, regardless of 
whether it is the grant recipient, if the State or unit of general 
local government is permitted to assume responsibility for the 
applicable element of grant compliance for grants for which it is the 
recipient under section 1011 of the Residential Lead-Based Paint Hazard 
Reduction Act of 1992 (42 U.S.C. 4852).
(f) Implementation.--The Secretary shall have the authority to 
issue such regulations, notices, or other guidance, forms, 
instructions, and publications to carry out the programs, projects, or 
activities authorized under this section to ensure that such programs, 
projects, or activities are completed in a timely and effective manner.

SEC. 203. UNLOCKING POSSIBILITIES PROGRAM.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
for fiscal year 2026, out of any money in the Treasury not otherwise 
appropriated--
(1) $1,646,000,000 for awarding grants under section 101, 
102, 103, 104(a) through 104(i), 104(l), 104(m), 105(a) through 
105(g), 106(a)(2), 106(a)(4), 106(b) through 106(f), 109, 110, 
111, 113, 115, 116, 120, and 122 of the Housing and Community 
Development Act of 1974 (42 U.S.C. 5301, 5302, 5303, 5304(a)-
(i), 5304(l), 5304(m), 5305(a)-(g), 5306(a)(2), 5306(a)(4), 
5306(b)-(f), 5309, 5310, 5311, 5313, 5315, 5316, 5319, and 
5321) awarded on a competitive basis to eligible recipients to 
carry out grants under subsection (c) of this section;
(2) $8,000,000 for research and evaluation related to 
housing planning and other associated costs;
(3) $30,000,000 to provide technical assistance to grantees 
or applicants for grants made available by this section; and
(4) $66,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and community and economic development programs overseen by the 
Secretary generally, including information technology, 
financial reporting, research and evaluations, and other cross-
program costs in support of programs administered by the 
Secretary in this title, and other costs.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Program Establishment.--The Secretary of Housing and Urban 
Development shall establish a competitive grant program for--
(1) planning grants to develop and evaluate housing plans 
and substantially improve housing strategies;
(2) streamlining regulatory requirements and shorten 
processes, reform zoning codes, increasing capacity to conduct 
housing inspections, or other initiatives that reduce barriers 
to housing supply elasticity and affordability;
(3) developing and evaluating local or regional plans for 
community development to substantially improve community 
development strategies related to sustainability, fair housing, 
and location efficiency;
(4) implementation and livable community investment grants; 
and
(5) research and evaluation.
(c) Grants.--
(1) Planning grants.--The Secretary shall, under selection 
criteria determined by the Secretary, award grants under this 
paragraph on a competitive basis to eligible entities to assist 
planning activities, including administration of such 
activities, engagement with community stakeholders and housing 
practitioners, to--
(A) develop housing plans;
(B) substantially improve State or local housing 
strategies;
(C) develop new regulatory requirements and 
processes, reform zoning codes, increasing capacity to 
conduct housing inspections, or undertake other 
initiatives to reduce barriers to housing supply 
elasticity and affordability;
(D) develop local or regional plans for community 
development; and
(E) substantially improve community development 
strategies, including strategies to increase 
availability and access to affordable housing, to 
further access to public transportation or to advance 
other sustainable or location-efficient community 
development goals.
(2) Implementation and livable community investment 
grants.--The Secretary shall award implementation grants under 
this paragraph on a competitive basis to eligible entities for 
the purpose of implementing and administering--
(A) completed housing strategies and housing plans 
and any planning to affirmatively further fair housing 
within the meaning of subsections (d) and (e) of 
section 808 of the Fair Housing Act (42 U.S.C. 608) and 
applicable regulations and for community investments 
that support the goals identified in such housing 
strategies or housing plans;
(B) new regulatory requirements and processes, 
reformed zoning codes, increased capacity to conduct 
housing inspections, or other initiatives to reduce 
barriers to housing supply elasticity and affordability 
that are consistent with a plan under subparagraph (A);
(C) completed local or regional plans for community 
development and any planning to increase availability 
and access to affordable housing, access to public 
transportation and other sustainable or location-
efficient community development goals.
(d) Coordination With FTA Administrator.--To the extent 
practicable, the Secretary shall coordinate with the Federal Transit 
Administrator in carrying out this section.
(e) Definitions.--For purposes of this section, the following 
definitions apply:
(1) Eligible entity.--The term ``eligible entity'' means--
(A) a State, insular area, metropolitan city, or 
urban county, as such terms are defined in section 102 
of the Housing and Community Development Act of 1974 
(42 U.S.C. 5302); or
(B) for purposes of grants under subsection (b)(1), 
a regional planning agency or consortia.
(2) Housing plan; housing strategy.--
(A) Housing plan.--The term ``housing plan'' means 
a plan of an eligible entity to, with respect to the 
area within the jurisdiction of the eligible entity--
(i) match the creation of housing supply to 
existing demand and projected demand growth in 
the area, with attention to preventing 
displacement of residents, reducing the 
concentration of poverty, and meaningfully 
reducing and not perpetuating housing 
segregation on the basis of race, color, 
religion, natural origin, sex, disability, or 
familial status;
(ii) increase the affordability of housing 
in the area, increase the accessibility of 
housing in the area for people with 
disabilities, including location-efficient 
housing, and preserve or improve the quality of 
housing in the area;
(iii) reduce barriers to housing 
development in the area, with consideration for 
location efficiency, affordability, and 
accessibility; and
(iv) coordinate with the metropolitan 
transportation plan of the area under the 
jurisdiction of the eligible entity, or other 
regional plan.
(B) Housing strategy.--The term ``housing 
strategy'' means the housing strategy required under 
section 105 of the Cranston-Gonzalez National 
Affordable Housing Act (42 U.S.C. 12705).
(f) Costs to Grantees.--Up to 15 percent of a recipient's grant may 
be used for administrative costs.
(g) Rules of Construction.--
(1) In general.-- Except as otherwise provided by this 
section, amounts appropriated or otherwise made available under 
this section shall be subject to the community development 
block grant program requirements under subsection (a)(1).
(2) Exceptions.--
(A) Housing construction.--Expenditures on new 
construction of housing shall be an eligible expense 
under this section.
(B) Buildings for general conduct of government.--
Expenditures on building for the general conduct of 
government, other than the Federal Government, shall be 
eligible under this section when necessary and 
appropriate as a part of a natural hazard mitigation 
project.
(h) Implementation.--The Secretary shall have the authority to 
issue such regulations notices, or other guidance, forms, instructions, 
and publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 204. STRENGTHENING RESILIENCE UNDER NATIONAL FLOOD INSURANCE 
PROGRAM.

(a) NFIP Program Activities.--
(1) Cancellation.--All indebtedness of the Administrator of 
the Federal Emergency Management Agency under any notes or 
other obligations issued pursuant to section 1309(a) of the 
National Flood Insurance Act of 1968 (42 U.S.C. 4016(a)) and 
section 15(e) of the Federal Insurance Act of 1956 (42 U.S.C. 
2414(e)), and outstanding as of the date of the enactment of 
this Act, is hereby cancelled, the Administrator and the 
National Flood Insurance Fund are relieved of all liability 
under any such notes or other obligations, including for any 
interest due, including capitalized interest, and any other 
fees and charges payable in connection with such notes and 
obligations.
(2) Use of savings for flood mapping.--In addition to 
amounts otherwise available, for each of fiscal years 2026 and 
2026, an amount equal to the interest the National Flood 
Insurance Program would have accrued from servicing the 
canceled debt under paragraph (1) in that fiscal year, which 
shall be derived from offsetting amounts collected under 
section 1310(d) of the National Flood Insurance Act of 1968 (42 
U.S.C. 4017(d)) and shall remain available until expended for 
activities identified in section 100216 (b)(1)(A) of the 
Biggert-Waters Flood Insurance Reform Act of 2012 (42 U.S.C. 
4101b(b)(1)(A)) and related salaries and administrative 
expenses.
(b) Means-Tested Assistance for National Flood Insurance Program 
Policyholders.--
(1) Appropriation.--In addition to amounts otherwise 
available, there is appropriated to the Administrator of the 
Federal Emergency Management Agency for fiscal year 2026, out 
of any money in the Treasury not otherwise appropriated, 
$600,000,000, to remain available until September 30, 2028, to 
provide assistance to eligible policyholders in the form of 
graduated discounts for insurance costs with respect to covered 
properties.
(2) Terms and conditions.--
(A) Discounts.--The Administrator shall use funds 
provided under this subsection to establish graduated 
discounts available to eligible policyholders under 
this subsection, with respect to covered properties, 
which may be based on the following factors:
(i) The percentage by which the household 
income of the eligible policyholder is equal 
to, or less than, 120 percent of the area 
median income for the area in which the 
property to which the policy applies is 
located.
(ii) The number of eligible policyholders 
participating in the program authorized under 
this subsection.
(iii) The availability of funding.
(B) Distribution of premium.--With respect to the 
amount of the discounts provided under this subsection 
in a fiscal year, and any administrative expenses 
incurred in carrying out this subsection for that 
fiscal year, the Administrator shall, from amounts made 
available to carry out this subsection for that fiscal 
year, deposit in the National Flood Insurance Fund 
established under section 1310 of the National Flood 
Insurance Act of 1968 (42 U.S.C. 4017) an amount equal 
to those discounts and administrative expenses, except 
to the extent that section 1310A of the National Flood 
Insurance Act of 1968 (42 U.S.C. 4017a) applies to any 
portion of those discounts or administrative expenses, 
in which case the Administrator shall deposit an amount 
equal to those amounts to which such section 1310A 
applies in the National Flood Insurance Reserve Fund 
established under such section 1310A.
(C) Requirement on timing.--Not later than 21 
months after the date of the enactment of this section, 
the Administrator shall issue interim guidance to 
implement this subsection which shall expire on the 
later of--
(i) the date that is 60 months after the 
date of the enactment of this section; or
(ii) the date on which a final rule issued 
to implement this subsection takes effect.
(3) Definitions.--In this subsection:
(A) Administrator.--The term ``Administrator'' 
means the Administrator of the Federal Emergency 
Management Agency.
(B) Covered property.--The term ``covered 
property'' means--
(i) a primary residential dwelling designed 
for the occupancy of from 1 to 4 families; or
(ii) personal property relating to a 
dwelling described in clause (i) or personal 
property in the primary residential dwelling of 
a renter.
(C) Eligible policyholder.--The term ``eligible 
policyholder'' means a policyholder with a household 
income that is not more than 120 percent of the area 
median income for the area in which the property to 
which the policy applies is located.
(D) Insurance costs.--The term ``insurance costs'' 
means insurance premiums, fees, and surcharges charged 
under the National Flood Insurance Program, with 
respect to a covered property for a year.

SEC. 205. COMMUNITY RESTORATION AND REVITALIZATION FUND.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Community Restoration and Revitalization 
Fund established under subsection (b) for fiscal year 2026, out of any 
money in the Treasury not otherwise appropriated, to remain available 
until September 30, 2033--
(1) $2,000,000,000 for awards of planning and 
implementation grants under section 101, 102, 103, 104(a) 
through 104(i), 104(l), 104(m), 105(a) through 105(g), 
106(a)(2), 106(a)(4), 106(b) through 106(f), 109, 110, 111, 
113, 115, 116, 120, and 122 of the Housing and Community 
Development Act of 1974 (42 U.S.C. 5301, 5302, 5303, 5304(a)-
(i), 5304(l), 5304(m), 5305(a)-(g), 5306(a)(2), 5306(a)(4), 
5306(b)-(f), 5309, 5310, 5311, 5313, 5315, 5316, 5319, and 
5321), awarded on a competitive basis to eligible recipients, 
as defined under subsection (c)(2) of this section, to carry 
out community-led projects to create equitable civic 
infrastructure and create or preserve affordable, accessible 
housing, including creating, expanding, and maintaining 
community land trusts and shared equity homeownership programs;
(2) $500,000,000 for planning and implementation grants 
under section 101, 102, 103, 104(a) through 104(i), 104(l), 
104(m), 105(a) through 105(g), 106(a)(2), 106(a)(4), 106(b) 
through 106(f), 109, 110, 111, 113, 115, 116, 120, and 122 of 
the Housing and Community Development Act of 1974 (42 U.S.C. 
5301, 5302, 5303, 5304(a)-(i), 5304(l), 5304(m), 5305(a)-(g), 
5306(a)(2) 5306(a)(4), 5306(b)-(f), 5309, 5310, 5311, 5313, 
5315, 5316, 5319, and 5321), awarded on a competitive basis to 
eligible recipients to create, expand, and maintain community 
land trusts and shared equity homeownership, including through 
the acquisition, rehabilitation, and new construction of 
affordable, accessible housing;
(3) $400,000,000 for the Secretary to provide technical 
assistance, capacity building, and program support to 
applicants, potential applicants, and recipients of amounts 
appropriated for grants under this section; and
(4) $100,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and community and economic development programs overseen by the 
Secretary generally, including information technology, 
financial reporting, research and evaluations, and other cross-
program costs in support of programs administered by the 
Secretary in this title, and other costs.
(b) Establishment of Fund.--The Secretary of Housing and Urban 
Development (in this section referred to as the ``Secretary'') shall 
establish a Community Restoration and Revitalization Fund (in this 
section referred to as the ``Fund'') to award planning and 
implementation grants on a competitive basis to eligible recipients as 
defined in this section for activities authorized under subsections (a) 
through (g) of section 105 of the Housing and Community Development Act 
of 1974 (42 U.S.C. 5305) and under this section for community-led 
affordable housing and civic infrastructure projects.
(c) Eligible Geographical Areas, Recipients, and Applicants.--
(1) Geographical areas.--The Secretary shall award grants 
from the Fund to eligible recipients within geographical areas 
at the neighborhood, county, or census tract level, including 
census tracts adjacent to the project area that are areas in 
need of investment, as demonstrated by two or more of the 
following factors:
(A) High and persistent rates of poverty.
(B) Population at risk of displacement due to 
rising housing costs.
(C) Dwelling unit sales prices that are lower than 
the cost to acquire and rehabilitate, or build, a new 
dwelling unit.
(D) High proportions of residential and commercial 
properties that are vacant due to foreclosure, 
eviction, abandonment, or other causes.
(E) Low rates of homeownership by race and 
ethnicity, relative to the national homeownership rate.
(2) Eligible recipient.--An eligible recipient of a 
planning or implementation grant under subsection (a)(1) or an 
implementation grant under subsection (a)(2) shall be a local 
partnership of a lead applicant and one or more joint 
applicants with the ability to administer the grant. An 
eligible recipient of a planning grant under subsection (b)(1) 
shall be a lead applicant with the ability to administer the 
grant, including a regional, State, or national nonprofit.
(d) Eligible Recipients and Applicants.--
(1) Lead applicant.--An eligible lead applicant for a grant 
awarded under this section shall be an entity that is located 
within or serves the geographic area of the project, or derives 
its mission and operational priorities from the needs of the 
geographic area of the project, demonstrates a commitment to 
anti-displacement efforts, and that is--
(A) a nonprofit organization that has expertise in 
community planning, engagement, organizing, housing and 
community development;
(B) a community development corporation;
(C) a community housing development organization;
(D) a community-based development organization; or
(E) a community development financial institution, 
as defined by section 103 of the Riegle Community 
Development and Regulatory Improvement Act of 1994 (12 
U.S.C. 4702).
(2) Joint applicants.--A joint applicant shall be an entity 
eligible to be a lead applicant in paragraph (1), or a local, 
regional, or national--
(A) nonprofit organization;
(B) community development financial institution;
(C) unit of general local government;
(D) Indian tribe;
(E) State housing finance agency;
(F) land bank;
(G) fair housing enforcement organization (as such 
term is defined in section 561 of the Housing and 
Community Development Act of 1987 (42 U.S.C. 3616a));
(H) public housing agency;
(I) tribally designated housing entity; or
(J) philanthropic organization.
(3) Lack of local entity.--A regional, State, or national 
nonprofit organization may serve as a lead entity if there is 
no local entity that meets the geographic requirements in 
paragraph (1).
(e) Uses of Funds.--
(1) In general.--Planning and implementation grants awarded 
under this section shall be used to support civic 
infrastructure and housing-related activities.
(2) Implementation grants.--Implementation grants awarded 
under this section may be used for activities eligible under 
subsections (a) through (g) of section 105 of the Housing and 
Community Development Act of 1974 (42 U.S.C. 5305) and other 
activities to support civic infrastructure and housing-related 
activities, including--
(A) new construction of housing;
(B) demolition of abandoned or distressed 
structures, but only if such activity is part of a 
strategy that incorporates rehabilitation or new 
construction, anti-displacement efforts such as 
tenants' right to return and right of first refusal to 
purchase, and efforts to increase affordable, 
accessible housing and homeownership, except that not 
more than 10 percent of any grant made under this 
section may be used for activities under this 
subparagraph unless the Secretary determines that such 
use is to the benefit of existing residents;
(C) facilitating the creation, maintenance, or 
availability of rental units, including units in mixed-
use properties, affordable and accessible to a 
household whose income does not exceed 80 percent of 
the median income for the area, as determined by the 
Secretary, for a period of not less than 30 years;
(D) facilitating the creation, maintenance, or 
availability of homeownership units affordable and 
accessible to households whose incomes do not exceed 
120 percent of the median income for the area, as 
determined by the Secretary;
(E) establishing or operating land banks; and
(F) providing assistance to existing residents 
experiencing economic distress or at risk of 
displacement, including purchasing nonperforming 
mortgages and clearing and obtaining formal title.
(3) Community land trust grants and shared equity 
homeownership grants.--An eligible recipient of a community 
land trust grant awarded for establishing and operating a 
community land trust or shared equity homeownership program; 
creation, subsidization, construction, acquisition, 
rehabilitation, and preservation of housing in a community land 
trust or shared equity homeownership program, and expanding the 
capacity of the recipient to carry out the grant.
(f) Definitions.--For purposes of this section, the following 
definitions shall apply:
(1) Community land trust.--The term ``community land 
trust''' means a nonprofit organization or State or local 
governments or instrumentalities that--
(A) use a ground lease or deed covenant with an 
affordability period of at least 30 years or more to--
(i) make rental and homeownership units 
affordable to households; and
(ii) stipulate a preemptive option to 
purchase the affordable rentals or 
homeownership units so that the affordability 
of the units is preserved for successive 
income-eligible households; and
(B) monitor properties to ensure affordability is 
preserved.
(2) Land bank.--The term ``land bank'' means a government 
entity, agency, or program, or a special purpose nonprofit 
entity formed by one or more units of government in accordance 
with State or local land bank enabling law, that has been 
designated by one or more State or local governments to 
acquire, steward, and dispose of vacant, abandoned, or other 
problem properties in accordance with locally-determined 
priorities and goals.
(3) Shared equity homeownership program.--The term ``shared 
equity homeownership program'' means a program to facilitate 
affordable homeownership preservation through a resale 
restriction program administered by a community land trust, 
other nonprofit organization, or State or local government or 
instrumentalities and that utilizes a ground lease, deed 
restriction, subordinate loan, or similar mechanism that 
includes provisions ensuring that the program shall--
(A) maintain the home as affordable for subsequent 
very low-, low-, or moderate-income families for an 
affordability term of at least 30 years after 
recordation;
(B) apply a resale formula that limits the 
homeowner's proceeds upon resale; and
(C) provide the program administrator or such 
administrator's assignee a preemptive option to 
purchase the homeownership unit from the homeowner at 
resale.
(g) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 206. FAIR HOUSING ACTIVITIES AND INVESTIGATIONS.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated--
(1) $540,000,000, to remain available until September 30, 
2028, for the Fair Housing Initiatives Program under section 
561 of the Housing and Community Development Act of 1987 (42 
U.S.C. 3616a) to ensure existing and new fair housing 
organizations have expanded and strengthened capacity to 
address fair housing inquiries and complaints, conduct local, 
regional, and national testing and investigations, conduct 
education and outreach activities, and address costs of 
delivering or adapting services to meet increased housing 
market activity and evolving business practices in the housing, 
housing-related, and lending markets. Amounts made available 
under this section shall support greater organizational 
continuity and capacity, including through up to 10-year 
grants; and
(2) $160,000,000, to remain available until September 30, 
2033, for the costs to the Secretary of administering and 
overseeing the implementation of this section and the Fair 
Housing Initiatives and Fair Housing Assistance Programs 
generally, including information technology, financial 
reporting, research and evaluations, other cross-program costs 
in support of programs administered by the Secretary in this 
title, and other costs.
(b) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 207. INTERGOVERNMENTAL FAIR HOUSING ACTIVITIES AND INVESTIGATIONS.

In addition to amounts otherwise available, there is appropriated 
to the Secretary of Housing and Urban Development (in this section 
referred to as the ``Secretary'') for fiscal year 2026, out of any 
money in the Treasury not otherwise appropriated--
(1) $75,000,000 for support for cooperative efforts with 
State and local agencies administering fair housing laws under 
section 817 of the Fair Housing Act (42 U.S.C. 3616) to assist 
the Secretary to affirmatively further fair housing, and for 
Fair Housing Assistance Program cooperative agreements with 
interim certified and certified State and local agencies, under 
the requirements of subpart C of part 115 of title 24, Code of 
Federal Regulations, to ensure expanded and strengthened 
capacity of substantially equivalent agencies to assume a 
greater share of the responsibility for the administration and 
enforcement of fair housing laws; and
(2) $25,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and the Fair Housing Assistance and Fair Housing Initiatives 
Programs generally, including information technology, financial 
reporting, research and evaluations, other cross-program costs 
in support of programs administered by the Secretary in this 
title, and other costs.

TITLE III--HOMEOWNERSHIP INVESTMENTS

SEC. 301. FIRST-GENERATION DOWNPAYMENT ASSISTANCE.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the First Generation Downpayment Fund to 
increase equal access to homeownership, established under subsection 
(b) for fiscal year 2026, out of any money in the Treasury not 
otherwise appropriated--
(1) $6,825,000,000, to remain available until September 30, 
2028, for the First-Generation Downpayment Assistance Fund 
under this section for allocation to each State in accordance 
with a formula established by the Secretary, which shall take 
into consideration best available data to approximate the 
number of potential qualified homebuyers as defined in 
subsection (e)(7) as well as median area home prices, to carry 
out the eligible uses of the Fund as described in subsection 
(d);
(2) $2,275,000,000, to remain available until September 30, 
2028, for the First-Generation Downpayment Assistance Program 
under this section for competitive grants to eligible entities 
to carry out the eligible uses of the Fund as described in 
subsection (d);
(3) $500,000,000, to remain available until September 30, 
2033, for the costs of providing housing counseling required 
under the First-Generation Downpayment Assistance Program under 
subsection (d)(1); and
(4) $400,000,000, to remain available until September 30, 
2033, for the costs to the Secretary of Housing and Urban 
Development of administering and overseeing the implementation 
of the First-Generation Downpayment Assistance Program, 
including information technology, financial reporting, 
programmatic reporting, research and evaluations, which shall 
include the program's impact on racial and ethnic disparities 
in homeownership rates, technical assistance to recipients of 
amounts under this section, and other cross-program costs in 
support of programs administered by the Secretary in this Act, 
and other costs.
(b) Establishment.--The Secretary of Housing and Urban Development 
shall establish and manage a fund to be known as the First Generation 
Downpayment Fund (in this section referred to as the ``Fund'') for the 
uses set forth in subsection (d).
(c) Allocation of Funds.--
(1) Initial allocation.--The Secretary shall allocate and 
award funding provided by subsection (a) as provided under such 
subsection not later than 12 months after the date of the 
enactment of this section.
(2) Reallocation.--If a State or eligible entity does not 
demonstrate the capacity to expend grant funds provided under 
this section, the Secretary may recapture amounts remaining 
available to a grantee that has not demonstrated the capacity 
to expend such funds in a manner that furthers the purposes of 
this section and shall reallocate such amounts among any other 
States or eligible entities that have demonstrated to the 
Secretary the capacity to expend such amounts in a manner that 
furthers the purposes of this section.
(d) Terms and Conditions of Grants Allocated or Awarded From 
Fund.--
(1) Uses of funds.--States and eligible entities receiving 
grants from the Fund shall use such grants to provide 
assistance to or on behalf of a qualified homebuyer who has 
completed a program of housing counseling provided through a 
housing counseling agency approved by the Secretary or other 
adequate homebuyer education before entering into a sales 
purchase agreement for--
(A) costs in connection with the acquisition, 
involving an eligible mortgage loan, of an eligible 
home, including downpayment costs, closing costs, and 
costs to reduce the rates of interest on eligible 
mortgage loans;
(B) subsidies to make shared equity homes 
affordable to eligible homebuyers; and
(C) pre-occupancy home modifications to accommodate 
qualified homebuyers or members of their household with 
disabilities;
(2) Amount of assistance.--Assistance under this section--
(A) may be provided to or on behalf of any 
qualified homebuyer;
(B) may be provided to or on behalf of any 
qualified homebuyer only once in the form of grants or 
forgivable, non-amortizing, non-interest-bearing loans 
that may only be required to be repaid pursuant to 
paragraph (d)(4); and
(C) may not exceed the greater of $20,000 or 10 
percent of the purchase price in the case of a 
qualified homebuyer, not to include assistance received 
under subsection (d)(1)(C) for disability related home 
modifications, except that the Secretary may increase 
such maximum limitation amounts for qualified 
homebuyers who are economically disadvantaged.
(3) Prohibition of priority or recoupment of funds.--In 
selecting qualified homebuyers for assistance with grant 
amounts under this section, a State or eligible entity may not 
provide any priority or preference for homebuyers who are 
acquiring eligible homes with a mortgage loan made, insured, 
guaranteed, or otherwise assisted by the State housing finance 
agency for the State, any other housing agency of the State, or 
an eligible entity when applicable, nor may the State or 
eligible entity seek to recoup any funds associated with the 
provision of downpayment assistance to the qualified homebuyer, 
whether through premium pricing or otherwise, except as 
provided in paragraph (4) of this subsection or otherwise 
authorized by the Secretary.
(4) Repayment of assistance.--
(A) Requirement.--The Secretary shall require that, 
if a homebuyer to or on behalf of whom assistance is 
provided from grant amounts under this section fails or 
ceases to occupy the property acquired using such 
assistance as the primary residence of the homebuyer, 
except in the case of assistance provided in connection 
with the purchase of a principal residence through a 
shared equity homeownership program, the homebuyer 
shall repay to the State or eligible entity, as 
applicable, in a proportional amount of the assistance 
the homebuyer receives based on the number of years 
they have occupied the eligible home up to 5 years, 
except that no assistance shall be repaid if the 
qualified homebuyer occupies the eligible home as a 
primary residence for 5 years or more.
(B) Limitation.--Notwithstanding subparagraph (A), 
a homebuyer to or on behalf of whom assistance is 
provided from grant amounts under this section shall 
not be liable to the State or eligible entity for the 
repayment of the amount of such shortage if the 
homebuyer fails or ceases to occupy the property 
acquired using such assistance as the principal 
residence of the homebuyer at least in part because of 
a hardship, or sells the property acquired with such 
assistance before the expiration of the 60-month period 
beginning on such date of acquisition and the capital 
gains from such sale to a bona fide purchaser in an 
arm's length transaction are less than the amount the 
homebuyer is required to repay the State or eligible 
entity under subparagraph (A).
(5) Reliance on borrower attestations.--No additional 
documentation beyond the borrower's attestation shall be 
required to demonstrate eligibility under subparagraphs (B) and 
(C) of subsection (e)(7) and no State, eligible entity, or 
creditor shall be subject to liability based on the accuracy of 
such attestation.
(6) Costs to grantee.--States and eligible entities 
receiving grants from the Fund may use a portion of such grants 
for administrative costs up to the limit specified by the 
Secretary.
(e) Definitions.--For purposes of this section, the following 
definitions shall apply:
(1) Eligible entity.--The term ``eligible entity'' means--
(A) a minority depository institution, as such term 
is defined in section 308 of the Financial Institutions 
Reform, Recovery, and Enforcement Act of 1989 (12 
U.S.C. 1463 note);
(B) a community development financial institution, 
as such term is defined in section 103 of the Riegle 
Community Development and Regulatory Improvement Act of 
1994 (12 U.S.C. 4702), that is certified by the 
Secretary of the Treasury and targets services to 
minority and low-income populations or provides 
services in neighborhoods having high concentrations of 
minority and low-income populations;
(C) any other nonprofit entity that the Secretary 
finds has a track record of providing assistance to 
homeowners, targets services to minority and low-income 
or provides services in neighborhoods having high 
concentrations of minority and low-income populations; 
and
(D) a unit of general local government, as such 
term is defined in section 102 of the Housing and 
Community Development Act of 1974 (42 U.S.C. 5302).
(2) Eligible home.--The term ``eligible home'' means a 
residential dwelling that--
(A) consists of 1 to 4 dwelling units; and
(B) will be occupied by the qualified homebuyer as 
the primary residence of the homebuyer.
(3) Eligible mortgage loan.--The term ``eligible mortgage 
loan'' means a single-family residential mortgage loan that--
(A) meets the underwriting requirements and dollar 
amount limitations for acquisition by the Federal 
National Mortgage Association or the Federal Home Loan 
Mortgage Corporation;
(B) is made, insured, or guaranteed under any 
program administered by the Secretary;
(C) is made, insured, or guaranteed by the Rural 
Housing Administrator of the Department of Agriculture;
(D) is a qualified mortgage, as such term is 
defined in section 129C(b)(2) of the Truth in Lending 
Act (15 U.S.C. 1639c(b)(2)); or
(E) is made, insured, or guaranteed for the benefit 
of a veteran.
(4) First-generation homebuyer.--The term ``first-
generation homebuyer'' means a homebuyer that is, as attested 
by the homebuyer--
(A) an individual--
(i) whose parents or legal guardians do 
not, or did not at the time of their death, to 
the best of the individual's knowledge, have 
any present ownership interest in a residence 
in any State, excluding ownership of heir 
property or ownership of chattel; and
(ii) whose spouse or domestic partner has 
not, during the 3-year period ending upon 
acquisition of the eligible home to be acquired 
using such assistance, had any present 
ownership interest in a residence in any State, 
excluding ownership of heir property or 
ownership of chattel, whether the individual is 
a co-borrower on the loan or not; or
(B) an individual who has at any time been placed 
in foster care or institutional care whose spouse or 
domestic partner has not, during the 3-year period 
ending upon acquisition of the eligible home to be 
acquired using such assistance, had any ownership 
interest in a residence in any State, excluding 
ownership of heir property or ownership of chattel, 
whether such individuals are co-borrowers on the loan 
or not.
(5) Heir property.--The term ``heir property'' means 
residential property for which title passed by operation of law 
through intestacy and is held by two or more heirs as tenants 
in common.
(6) Ownership interest .--The term ``ownership interest'' 
means any ownership, excluding any interest in heir property, 
in--
(A) real estate in fee simple;
(B) a leasehold on real estate under a lease for 
not less than ninety-nine years which is renewable; or
(C) a fee interest in, or long-term leasehold 
interest in, real estate consisting of a one-family 
unit in a multifamily project, including a project in 
which the dwelling units are attached, or are 
manufactured housing units, semi-detached, or detached, 
and an undivided interest in the common areas and 
facilities which serve the project.
(7) Qualified homebuyer.--The term ``qualified homebuyer'' 
means a homebuyer--
(A) having an annual household income that is less 
than or equal to--
(i) 120 percent of median income, as 
determined by the Secretary, for--
(I) the area in which the home to 
be acquired using such assistance is 
located; or
(II) the area in which the place of 
residence of the homebuyer is located; 
or
(ii) 140 percent of the median income, as 
determined by the Secretary, for the area 
within which the eligible home to be acquired 
using such assistance is located if the 
homebuyer is acquiring an eligible home located 
in a high-cost area;
(B) who is a first-time homebuyer, as such term is 
defined in section 104 of the Cranston-Gonzalez 
National Affordable Housing Act (42 U.S.C. 12704), 
except that for the purposes of this section the 
reference in such section 104 to title II shall be 
considered to refer to this section, and except that 
ownership of heir property shall not be treated as 
owning a home for purposes of determining whether a 
borrower qualifies as a first-time homebuyer; and
(C) who is a first-generation homebuyer.
(8) Secretary.--The term ``Secretary'' means the Secretary 
of Housing and Urban Development.
(9) Shared equity homeownership program.--
(A) In general.--The term ``shared equity 
homeownership program'' means affordable homeownership 
preservation through a resale restriction program 
administered by a community land trust, other nonprofit 
organization, or State or local government or 
instrumentalities.
(B) Affordability requirements.--Any such program 
under subparagraph (A) shall--
(i) provide affordable homeownership 
opportunities to households; and
(ii) utilize a ground lease, deed 
restriction, subordinate loan, or similar 
mechanism that includes provisions ensuring 
that the program shall--
(I) maintain the homeownership unit 
as affordable for subsequent very low-, 
low-, or moderate-income families for 
an affordability term of at least 30 
years after recordation;
(II) apply a resale formula that 
limits the homeowner's proceeds upon 
resale; and
(III) provide the program 
administrator or such administrator's 
assignee a preemptive option to 
purchase the homeownership unit from 
the homeowner at resale.
(10) State.--The term ``State'' means any State of the 
United States, the District of Columbia, the Commonwealth of 
Puerto Rico, the United States Virgin Islands, Guam, the 
Commonwealth of the Northern Mariana Islands, and American 
Samoa.
(f) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 302. HOME LOAN PROGRAM.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated for fiscal year 2026, out of any amounts in the 
Treasury not otherwise appropriated, to remain available until 
September 30, 2033--
(1) $4,000,000,000 to the Secretary of Housing and Urban 
Development for the cost of guaranteed or insured loans and 
other obligations, including the cost of modifying such loans, 
under subsection (e)(1)(A);
(2) $500,000,000 to the Secretary of Housing and Urban 
Development for costs of carrying out the program under 
paragraph (1) and programs of the Federal Housing 
Administration and the Government National Mortgage Association 
generally, including information technology, financial 
reporting, and other cross-program costs in support of programs 
administered by the Secretary in this title, and other costs;
(3) $150,000,000 to the Secretary of Agriculture for the 
cost of guaranteed and insured loans and other obligations, 
including the cost of modifying such loans, under subsection 
(e)(1)(B);
(4) $50,000,000 to the Secretary of Agriculture for the 
costs of carrying out the program under paragraph (3) and 
programs of the Rural Housing Service generally, including 
information technology and financial reporting in support of 
the Program administered by the Secretary of Agriculture in 
this title; and
(5) $300,000,000 to the Secretary of Treasury for the costs 
of carrying out the program under this section.
(b) Use of Funds.--
(1) In general.--
(A) The Secretary of Housing and Urban Development 
and the Secretary of Agriculture shall use the funds 
provided under subsections (a)(1), (a)(2), (a)(3), and 
(a)(4) to carry out the programs under subsections 
(a)(1) and (a)(3) to make covered mortgage loans.
(B) The Secretary of the Treasury shall use the 
funds provided under subsections (a)(5) and (b)(2) to--
(i) purchase, on behalf of the Secretary of 
Housing and Urban Development, securities that 
are secured by covered mortgage loans, and 
sell, manage, and exercise any rights received 
in connection with, any financial instruments 
or assets acquired pursuant to the authorities 
granted under this section, including, as 
appropriate, establishing and using vehicles to 
purchase, hold, and sell such financial 
instruments or assets;
(ii) designate one or more banks, security 
brokers or dealers, asset managers, or 
investment advisers, as a financial agent of 
the Federal Government to perform duties 
related to authorities granted under this 
section; and
(iii) use the services of the Department of 
Housing and Urban Development on a reimbursable 
basis, and the Secretary of Housing and Urban 
Development is authorized to provide services 
as requested by the Secretary of Treasury using 
all authorities vested in or delegated to the 
Department of Housing and Urban Development.
(2) Transfer of amounts to treasury.--Such portions of the 
appropriation to the Secretary of Housing and Urban Development 
shall be transferred by the Secretary of Housing and Urban 
Development to the Department of the Treasury from time-to-time 
in an amount equal to, as determined by the Secretary of the 
Treasury in consultation with the Secretary of Housing and 
Urban Development, the amount necessary for the purchase of 
securities under the Program during the period for which the 
funds are intended to be available.
(3) Use of proceeds.--Revenues of and proceeds from the 
sale, exercise, or surrender of assets purchased or acquired 
under the Program under this section shall be available to the 
Secretary of the Treasury through September 30, 2033, for 
purposes of purchases under subsection (b)(1)(B)(i).
(c) Limitation on Aggregate Loan Insurance or Guarantee 
Authority.--The aggregate original principal obligation of all covered 
mortgage loans insured or guaranteed under subsection (e)(1)(A) of this 
section may not exceed $48,000,000,000, and under section (e)(1)(B) may 
not exceed $12,000,000,000.
(d) GNMA Guarantee Authority and Fee.--To carry out the purposes of 
this section, the Government National Mortgage Association may enter 
into new commitments to issue guarantees of securities based on or 
backed by mortgages insured or guaranteed under this section, not 
exceeding $60,000,000,000, and shall collect guaranty fees consistent 
with section 306(g)(1) of the National Housing Act (12 U.S.C. 
1721(g)(1)) that are paid at securitization.
(e) Definitions.--In this section:
(1) Covered mortgage loan.--
(A) In general.--The term ``covered mortgage loan'' 
means, for purposes of the Program established by the 
Secretary of Housing and Urban Development, a mortgage 
loan that--
(i) is insured by the Federal Housing 
Administration pursuant to section 203(b) of 
the National Housing Act, subject to the 
eligibility criteria set forth in this 
subsection, and has a case number issued on or 
before December 31, 2031;
(ii) is made for an original term of 20 
years with a monthly mortgage payment of 
principal and interest that is not more than 
110 percent and not less than 100 percent of 
the monthly payment of principal, interest, and 
periodic mortgage insurance premium associated 
with a newly originated 30-year mortgage loan 
with the same loan balance insured by the 
agency as determined by the Secretary;
(iii) subject to subparagraph (C) of this 
paragraph and notwithstanding section 203(c)(2) 
of the National Housing Act (12 U.S.C. 
1709(c)(2)), has a mortgage insurance premium 
of not more than 4 percent of the loan balance 
that is paid at closing, financed into the 
principal balance of the loan, paid through an 
annual premium, or a combination thereof;
(iv) involves a rate of interest that is 
fixed over the term of the mortgage loan; and
(v) is secured by a single-family residence 
that is the principal residence of an eligible 
homebuyer.
(B) The term ``covered mortgage loan'' means, for 
purposes of the Program established by the Secretary of 
Agriculture, a loan guaranteed under section 502(h) of 
the Housing Act of 1949 (42 U.S.C. 1472(h)) that--
(i) notwithstanding section 502(h)(7)(A) of 
the Housing Act of 1949 (42 U.S.C. 
1472(h)(7)(A)), is made for an original term of 
20 years with a monthly mortgage payment of 
principal and interest that is not more than 
110 percent and not less than 100 percent of 
the monthly payment of principal, interest, and 
loan guarantee fee associated with a newly 
originated 30-year mortgage loan with the same 
loan balance guaranteed by the agency as 
determined by the Secretary; and
(ii) subject to subparagraph (C) of this 
paragraph and notwithstanding section 
502(h)(8)(A) of the Housing Act of 1949 (42 
U.S.C. 1472(h)(8)(A)), has a loan guarantee fee 
of not more than 4 percent of the principal 
obligation of the loan.
(2) Eligible homebuyer.--The term ``eligible homebuyer'' 
means an individual who--
(A) for purposes of the Program established by the 
Secretary of Housing and Urban Development--
(i) has an annual household income that is 
less than or equal to--
(I) 120 percent of median income 
for the area, as determined by the 
Secretary of Housing and Urban 
Development for--
(aa) the area in which the 
home to be acquired using such 
assistance is located; or
(bb) the area in which the 
place of residence of the 
homebuyer is located; or
(II) if the homebuyer is acquiring 
an eligible home that is located in a 
high-cost area, 140 percent of the 
median income, as determined by the 
Secretary, for the area within which 
the eligible home to be acquired using 
assistance provided under this section 
is located;
(ii) is a first-time homebuyer, as defined 
in paragraph (4) of this subsection; and
(iii) is a first-generation homebuyer as 
defined in paragraph (3) of this subsection;
(B) for purposes of the Program established by the 
Secretary of Agriculture--
(i) meets the applicable requirements in 
section 502(h) of the Housing Act of 1949 (42 
U.S.C. 1472(h)); and
(ii) is a first-time homebuyer as defined 
in paragraph (4) of this subsection and a 
first-generation homebuyer as defined in 
paragraph (3) of this subsection.
(3) First-generation homebuyer.--The term ``first-
generation homebuyer'' means a homebuyer that, as attested by 
the homebuyer, is--
(A) an individual--
(i) whose parents or legal guardians do 
not, or did not at the time of their death, to 
the best of the individual's knowledge, have 
any present ownership interest in a residence 
in any State or ownership of chattel, excluding 
ownership of heir property; and
(ii) whose spouse, or domestic partner has 
not, during the 3-year period ending upon 
acquisition of the eligible home to be acquired 
using such assistance, have any present 
ownership interest in a residence in any State, 
excluding ownership of heir property or 
ownership of chattel, whether the individual is 
a co-borrower on the loan or not; or
(B) an individual who has at any time been placed 
in foster care or institutional care whose spouse or 
domestic partner has not, during the 3-year period 
ending upon acquisition of the eligible home to be 
acquired using such assistance, had any ownership 
interest in a residence in any State, excluding 
ownership of heir property or ownership of chattel, 
whether such individuals are co-borrowers on the loan 
or not.
(4) First-time homebuyer.--The term ``first-time 
homebuyer'' means a homebuyer as defined in section 104 of the 
Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 
12704), except that for the purposes of this section the 
reference in such section 12704(14) to title II shall be 
considered to refer to this section, and except that ownership 
of heir property shall not be treated as owning a home for 
purposes of determining whether a borrower qualifies as a 
first-time homebuyer.
(5) Heir property.--The term ``heir property'' means 
residential property for which title passed by operation of law 
through intestacy and is held by two or more heirs as tenants 
in common.
(6) Ownership interest.--The term ``ownership interest'' 
means any ownership, excluding any interest in heir property, 
in--
(A) real estate in fee simple;
(B) a leasehold on real estate under a lease for 
not less than ninety-nine years which is renewable; or
(C) a fee interest in, or long-term leasehold 
interest in, real estate consisting of a one-family 
unit in a multifamily project, including a project in 
which the dwelling units are attached, or are 
manufactured housing units, semi-detached, or detached, 
and an undivided interest in the common areas and 
facilities which serve the project.
(7) State.--The term ``State'' means the States of the 
United States, the District of Columbia, the Commonwealth of 
Puerto Rico, the Commonwealth of the Northern Mariana Islands, 
Guam, the Virgin Islands, American Samoa, the Trust Territory 
of the Pacific Islands, and any other territory or possession 
of the United States.
(f) Reliance on Borrower Attestations.--No additional documentation 
beyond the borrower's attestation shall be required to demonstrate 
eligibility under clauses (ii) and (iii) of subsection (e)(2)(A) and 
clause (ii) of subsection (e)(2)(B) and no State, eligible entity, or 
creditor shall be subject to liability based on the accuracy of such 
attestation.
(g) Implementation.--The Secretary of Housing and Urban 
Development, the Secretary of Agriculture, and the Secretary of 
Treasury shall have authority to issue such regulations, notices, or 
other guidance, forms, instructions, and publications to carry out the 
programs, projects, or activities authorized under this section to 
ensure that such programs, projects, or activities are completed in a 
timely and effective manner.

SEC. 303. HUD-INSURED SMALL DOLLAR MORTGAGE DEMONSTRATION PROGRAM.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Secretary of Housing and Urban Development 
(in this section referred to as the ``Secretary'') for fiscal year 
2026, out of any money in the Treasury not otherwise appropriated, to 
remain available until September 30, 2033--
(1) $76,000,000 for a program to increase access to small-
dollar mortgages, as defined in subsection (b), which may 
include payment of incentives to lenders, adjustments to terms 
and costs, individual financial assistance, technical 
assistance to lenders and certain financial institutions to 
help originate loans, lender and borrower outreach, and other 
activities;
(2) $10,000,000 for the cost of insured or guaranteed 
loans, including the cost of modifying loans; and
(3) $14,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and programs in the Office of Housing generally, including 
information technology, financial reporting, research and 
evaluations, fair housing and fair lending compliance, and 
other cross-program costs in support of programs administered 
by the Secretary in this title, and other costs.
(b) Small-Dollar Mortgage.--For purposes of this section, the term 
``small-dollar mortgage'' means a forward mortgage that--
(1) has an original principal balance of $100,000 or less;
(2) is secured by a one- to four-unit property that is the 
mortgagor's principal residence; and
(3) is insured or guaranteed by the Secretary.
(c) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.

SEC. 304. INVESTMENTS IN RURAL HOMEOWNERSHIP.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated to the Rural Housing Service of the Department of 
Agriculture for fiscal year 2026, out of any money in the Treasury not 
otherwise appropriated, to remain available until expended--
(1) $90,000,000 for providing single family housing repair 
grants under section 504(a) of the Housing Act of 1949 (42 
U.S.C. 1474(a)), subject to the terms and conditions in 
subsection (b) of this section;
(2) $10,000,000 for administrative expenses of the Rural 
Housing Service of the Department of Agriculture that in whole 
or in part support activities funded by this section and 
related activities.
(b) Terms and Conditions.--
(1) Eligibility.--Eligibility for grants from amounts made 
available by subsection (a)(1) shall not be subject to the 
limitations in section 3550.103(b) of title 7, Code of Federal 
Regulations.
(2) Uses.--Notwithstanding the limitations in section 
3550.102(a) of title 7, Code of Federal Regulations, grants 
from amounts made available by subsection (a)(2) shall be 
available for the eligible purposes in section 3550.102(b) of 
title 7, Code of Federal Regulations.
(c) Implementation.--The Administrator of the Rural Housing Service 
shall have authority to issue such regulations, notices, or other 
guidance, forms, instructions, and publications to carry out the 
programs, projects, or activities authorized under this section to 
ensure that such programs, projects, or activities are completed in a 
timely and effective manner.

TITLE IV--HUD ADMINISTRATION, CAPACITY BUILDING, TECHNICAL ASSISTANCE, 
AND AGENCY OVERSIGHT

SEC. 401. PROGRAM ADMINISTRATION, TRAINING, TECHNICAL ASSISTANCE, 
CAPACITY BUILDING, AND OVERSIGHT.

(a) Appropriation.--In addition to amounts otherwise available, 
there is appropriated for fiscal year 2026, out of any money in the 
Treasury not otherwise appropriated,--
(1) $949,250,000 to the Secretary of Housing and Urban 
Development for--
(A) the costs to the Secretary of administering and 
overseeing the implementation of this title and the 
Department's programs generally, including information 
technology, inspections of housing units, research and 
evaluation, financial reporting, and other costs; and
(B) new awards or increasing prior awards to 
provide training, technical assistance, and capacity 
building related to the Department's programs, 
including direct program support to program recipients 
throughout the country, including insular areas, that 
require such assistance with daily operations;
(2) $43,250,000 to the Office of Inspector General of the 
Department of Housing and Urban Development for necessary 
salaries and expenses for conducting oversight of amounts 
provided by this title;
(3) $5,000,000 to the Office of Inspector General of the 
Department of the Treasury for necessary salaries and expenses 
for conducting oversight of amounts provided by this title; and
(4) $2,500,000 to the Office of Inspector General of the 
Department of the Agriculture for necessary salaries and 
expenses for conducting oversight of amounts provided by this 
title.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Implementation.--The Secretary of Housing and Urban Development 
shall have authority to issue such regulations, notices, or other 
guidance, forms, instructions, and publications to carry out the 
programs, projects, or activities authorized under this section to 
ensure that such programs, projects, or activities are completed in a 
timely and effective manner.

SEC. 402. COMMUNITY-LED CAPACITY BUILDING.

(a) Appropriation.--In addition to amounts otherwise made 
available, there is appropriated to the Secretary of Housing and Urban 
Development (in this section referred to as the ``Secretary'') for 
fiscal year 2026, out of any money in the Treasury not otherwise 
appropriated--
(1) $90,000,000 for competitively awarded funds for 
technical assistance and capacity building to non-Federal 
entities, including grants awarded to nonprofit organizations 
to provide technical assistance activities to community 
development corporations, community housing development 
organizations, community land trusts, nonprofit organizations 
in insular areas, and other mission-driven and nonprofit 
organizations that target services to low-income and socially 
disadvantaged populations, and provide services in 
neighborhoods having high concentrations of minority, low-
income, or socially disadvantaged populations to--
(A) provide training, education, support, and 
advice to enhance the technical and administrative 
capabilities of community development corporations, 
community housing development organizations, community 
land trusts, and other mission-driven and nonprofit 
organizations undertaking affordable housing 
development, acquisition, preservation, or 
rehabilitation activities;
(B) provide predevelopment assistance to community 
development corporations, community housing development 
organizations, and other mission-driven and nonprofit 
organizations undertaking affordable housing 
development, acquisition, preservation, or 
rehabilitation activities; and
(C) carry out such other activities as may be 
determined by the grantees in consultation with the 
Secretary; and
(2) $10,000,000 for the costs to the Secretary of 
administering and overseeing the implementation of this section 
and the Department's technical assistance programs generally, 
including information technology, research and evaluations, 
financial reporting, and other cross-program costs in support 
of programs administered by the Secretary in this title and 
other costs.
Amounts appropriated by this section shall remain available until 
September 30, 2033.
(b) Implementation.--The Secretary shall have authority to issue 
such regulations, notices, or other guidance, forms, instructions, and 
publications to carry out the programs, projects, or activities 
authorized under this section to ensure that such programs, projects, 
or activities are completed in a timely and effective manner.
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