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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7325 Introduced in House (IH)]

<DOC>

118th CONGRESS
  2d Session
                                H. R. 7325

To address the housing crisis through bold investments to increase and 
       preserve the national affordable housing supply, paths to 
   homeownership, and perpetual affordability through shared equity 
 housing and community land trust models, investigating landlord price 
fixing, and providing relief for rural renters, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           February 13, 2024

 Ms. Balint (for herself, Mr. Gomez, Mr. Davis of Illinois, Mr. Garcia 
   of Illinois, Mr. Goldman of New York, Mr. Johnson of Georgia, Mr. 
 Jackson of Illinois, Ms. Lee of Pennsylvania, Ms. Moore of Wisconsin, 
Mr. Mullin, Ms. Norton, Ms. Ocasio-Cortez, Ms. Omar, Mrs. Ramirez, Ms. 
 Sanchez, Ms. Schakowsky, Mr. Smith of Washington, Ms. Stansbury, Mr. 
 Thanedar, Ms. Tlaib, Ms. Tokuda, Ms. Underwood, Mrs. Watson Coleman, 
  Ms. Porter, and Mr. Pocan) introduced the following bill; which was 
referred to the Committee on Financial Services, and in addition to the 
Committee on Ways and Means, 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 address the housing crisis through bold investments to increase and 
       preserve the national affordable housing supply, paths to 
   homeownership, and perpetual affordability through shared equity 
 housing and community land trust models, investigating landlord price 
fixing, and providing relief for rural renters, 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 ``Community Housing 
Act of 2024''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Congressional findings.
Sec. 3. Severability.
                 TITLE I--INVESTMENTS IN HOUSING SUPPLY

Sec. 101. Housing Trust Fund.
Sec. 102. GSE basis point fee.
Sec. 103. Capital Magnet Fund.
Sec. 104. Investments in affordable and accessible housing production.
Sec. 105. Unlocking possibilities program.
Sec. 106. Shared Equity Housing Fund.
Sec. 107. Repeal of Faircloth amendment.
Sec. 108. Establishment of HUD Office of Community Land Use and Zoning.
Sec. 109. Continuation of FHA-FFB affordable rental housing financing 
                            partnership.
Sec. 110. Increase of minimum State allocations under housing programs.
          TITLE II--RENTAL SUPPORT AND PERPETUAL AFFORDABILITY

Sec. 201. Permanent emergency rental assistance program.
Sec. 202. HUD Eviction Protection Grant Program.
Sec. 203. Shared equity housing resources.
Sec. 204. Homeownership assistance.
Sec. 205. Report on tax on secondary homes.
Sec. 206. National housing information database.
                        TITLE III--RURAL HOUSING

Sec. 301. Permanent establishment of housing preservation and 
                            revitalization program; decoupling rental 
                            assistance.
Sec. 302. Interagency Task Force to coordinate delivery of substance 
                            use disorder treatment and affordable 
                            housing availability.

SEC. 2. CONGRESSIONAL FINDINGS.

    The Congress finds that--
            (1) the cost of housing for all Americans has increased 
        dramatically and wages have not kept pace with these increases 
        over the last 50 years;
            (2) average rent in the United States has increased 24 
        percent between 2020 and 2023;
            (3) more than half of low- and moderate-income borrowers 
        now spend between 30 and 50 percent of their income on mortgage 
        payments;
            (4) rental housing subsidized by the Rural Housing Service 
        (RHS) of the Department of Agriculture is often the only 
        affordable option in rural communities;
            (5) more than half of extremely low-income rural renters 
        experience housing insecurity;
            (6) the Housing Trust Fund (HTF) provides a dedicated, 
        permanent source of funding for affordable housing;
            (7) the HTF is an important source of gap financing for 
        State housing finance agencies, used along with tax credits and 
        the HOME Investment Partnership program (HOME);
            (8) the Capital Magnet Fund (CMF) provides funding to 
        nonprofits and Community Development Financial Institutions 
        (CDFIs) to expand financing for the development, 
        rehabilitation, and purchase of affordable housing and other 
        related economic development projects in distressed 
        communities;
            (9) the HTF and CMF are funded through contributions from 
        the Government-sponsored enterprises (GSEs) Fannie Mae and 
        Freddie Mac;
            (10) the GSEs are required to annually set aside an amount 
        equal to 4.2 basis points for each dollar of the unpaid 
        principal balance of their total new business purchases to 
        support the affordable housing programs;
            (11) in 2023, receipts from the GSE set aside dropped 
        significantly due to shifting market conditions;
            (12) the HOME program is used, in combination with housing 
        tax credits, by State housing finance agencies to build 
        affordable rental housing;
            (13) the HOME program is also the primary Federal resource 
        for the construction of affordable family homes;
            (14) despite its importance and effectiveness, the HOME 
        program has not been adequately funded in relation to 
        increasing costs associated with single family and multifamily 
        housing construction;
            (15) restrictive land use regulations disproportionately 
        affect low- and moderate-income families by limiting the 
        availability of quality affordable housing and driving up the 
        costs of existing housing;
            (16) President Biden has proposed the Unlocking 
        Possibilities program, a competitive grant program to help 
        States and localities eliminate needless barriers to affordable 
        housing production, including permitting for manufactured 
        housing communities;
            (17) almost 2 million people in the United States live in 
        public housing;
            (18) public housing agencies are unnecessarily prohibited 
        from increasing their number of public housing units above the 
        total they had in 1992 under a provision of law commonly 
        referred to as the ``Faircloth limit'';
            (19) community land trust or shared equity programs are 
        crucial for ensuring perpetual housing affordability;
            (20) community land trusts or related shared equity housing 
        programs have established legal frameworks to keep homes 
        affordable for more than 30 years;
            (21) there are over 300 community land trust entities in 
        the United States encompassing 43,931 housing units;
            (22) 44 percent of all shared equity dwelling units are 
        rental units;
            (23) a reported 45 percent of shared equity homeowners are 
        people of color;
            (24) many shared equity housing organizations include a 
        commitment to racial and ethnic diversity in their 
        organizational and operational practices;
            (25) the Emergency Rental Assistance Program (ERAP), 
        established during the COVID-19 pandemic, provided rental and 
        utility assistance to more than 5 million households;
            (26) these funds protected renters and landlords and have 
        demonstrated the need for a permanent emergency rental 
        assistance program;
            (27) analysis shows that daily eviction rates fell 
        dramatically due to the ERAP;
            (28) State and local public developers are innovating new 
        ways to finance and cross-subsidize the creation of affordable 
        mixed income public housing without depending on the use of 
        scarce low-income housing tax credits; and
            (29) State and Federal antitrust enforcers would benefit 
        from greater visibility into use of real estate and property 
        management software to stem anti-competitive price fixing in 
        the rental housing markets.

SEC. 3. SEVERABILITY.

    If any provision of this Act, any amendment made by this Act, or 
the application of any such provision or amendment to any person or 
circumstance is held to be unconstitutional, the remainder of this Act 
and of the amendments made by this Act, and the application of the 
remaining provisions of this Act and amendments to any person or 
circumstance shall not be affected.

                 TITLE I--INVESTMENTS IN HOUSING SUPPLY

SEC. 101. HOUSING TRUST FUND.

    Section 1338(a) of the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 4568(a)) is amended by adding at 
the end the following:
            ``(3) Appropriation.--In addition to amounts otherwise made 
        available, there is appropriated to the Housing Trust Fund, out 
        of any money in the Treasury not otherwise appropriated, 
        $44,500,000,000 for each of fiscal years 2024 through 2033.''.

SEC. 102. GSE BASIS POINT FEE.

    Section 1337(a) of the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 4567) is amended--
            (1) in paragraph (1)(A), by striking ``4.2 basis points'' 
        and inserting ``10 basis points''; and
            (2) in paragraph (2)(A), by striking ``4.2 basis points'' 
        and inserting ``10 basis points''.

SEC. 103. CAPITAL MAGNET FUND.

    Section 1339 of the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 4569) is amended by adding at the 
end the following:
    ``(k) Appropriation.--In addition to amounts otherwise made 
available, there is appropriated to the Capital Magnet Fund, out of any 
money in the Treasury not otherwise appropriated, $1,500,000,000 for 
each of fiscal years 2024 through 2033.''.

SEC. 104. 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 2024, 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) Waivers.--The Secretary may waive or specify alternative 
requirements for any provision of the Cranston-Gonzalez National 
Affordable Housing Act specified in subsection (a)(1) or (a)(2) or 
regulation for the administration of the amounts made available under 
this section other than requirements related to tenant rights and 
protections, fair housing, nondiscrimination, labor standards, and the 
environment, upon a finding that the waiver or alternative requirement 
is necessary to facilitate the use of amounts made available under this 
section.
    (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. 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 2024, out of any money in the Treasury not otherwise 
appropriated--
            (1) $1,646,000,000 for awarding grants under 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) 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) $3,000,000 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, acting through the Director of the Office of Community 
Land Use and Zoning Reform established under section 4(i) of the 
Department of Housing and Urban Development Act (as added by the 
amendment made by section 108(a) of this Act), 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); 
                and
                    (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) Waivers.--The Secretary may waive or specify alternative 
requirements for any provision of subsection (a)(1) or regulation for 
the administration of the amounts made available under this section 
other than requirements related to fair housing, nondiscrimination, 
labor standards, and the environment, upon a finding that the waiver or 
alternative requirement is not inconsistent with the overall purposes 
of such Act and that the waiver or alternative requirement is necessary 
to facilitate the use of amounts made available under this section.
    (i) 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. 106. SHARED EQUITY HOUSING 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 2022, out of any 
money in the Treasury not otherwise appropriated, to remain available 
until September 30, 2031, $500,000,000 for planning and implementation 
grants under 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), awarded on a 
competitive basis to eligible recipients, as defined under subsection 
(d) of this section, to create, expand, and maintain community land 
trusts and shared equity homeownership, including through the 
acquisition, rehabilitation, and new construction of affordable, 
accessible housing.
    (b) Establishment of Fund.--The Secretary of Housing and Urban 
Development (in this section referred to as the ``Secretary'') shall 
establish a Shared Equity Fund (in this section referred to as the 
``Fund'') to award planning and implementation grants on a competitive 
basis to eligible recipients 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 community development and economic 
development projects.
    (c) Use of Funds.--An eligible recipient of a community land trust 
grant awarded under subsection (a) shall use such grant 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, provided that any 
housing units created or maintained--
            (1) in the case of rental units, including units in mixed-
        use properties, are 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; and
            (2) in the case of homeownership units, are affordable and 
        accessible to households whose incomes do not exceed 120 
        percent of the median income for the area, as determined by the 
        Secretary.
    (d) Eligible Recipient.--An eligible recipient of a planning or 
implementation grant under subsection (a) shall be a local partnership 
with the ability to administer the grant.
    (e) Waivers.--The Secretary may waive or specify alternative 
requirements for sections 104(a) through (e), 104(h), 104(l), 104(m), 
105(a) through (g), 106(a)(2), 106(a)(4), and 106(b) through (f) of the 
Housing and Community Development Act of 1974 (42 U.S.C. 5304(a) 
through (e), 5304(h), 5304(l), 5304(m), 5305(a) through (g), 
5306(a)(2), 5306(a)(4), and 5306(b) through (f)), or associated 
regulations for the administration of the amounts made available under 
this section other than requirements related to fair housing, 
nondiscrimination, labor standards, and the environment, upon a finding 
that the waiver or alternative requirement is not inconsistent with the 
overall purposes of such Act and that the waiver or alternative 
requirement is necessary to expedite or facilitate the use of amounts 
made available under this section.
    (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 the authority to 
establish by notice any requirements that the Secretary determines are 
necessary for timely and effective implementation of the program and 
expenditure of funds appropriated, which requirements shall take effect 
upon issuance.

SEC. 107. REPEAL OF FAIRCLOTH AMENDMENT.

    Section 9(g) of the United States Housing Act of 1937 (42 U.S.C. 
1437g(g)) is amended by striking paragraph (3) (relating to limitation 
on new construction).

SEC. 108. ESTABLISHMENT OF HUD OFFICE OF COMMUNITY LAND USE AND ZONING.

    (a) In General.--Section 4 of the Department of Housing and Urban 
Development Act (42 U.S.C. 3533) is amended by adding at the end the 
following new subsection:
    ``(i) Office of Community Land Use and Zoning.--
            ``(1) Establishment.--There is established in the 
        Department, in the Office of the Secretary, the Office of 
        Community Land Use and Zoning.
            ``(2) Director.--There is established the position of 
        Director of the Office of Community Land Use and Zoning. The 
        Director shall be the head of the Office of Community Land Use 
        and Zoning and shall be appointed by, and shall report to, the 
        Secretary. Such position shall be a career-reserved position in 
        the Senior Executive Service.
            ``(3) Mission.--The mission of the Office of Community Land 
        Use and Zoning shall be to encourage communities to pursue land 
        use policies that increase the availability and affordability 
        of housing.
            ``(4) Functions.--The Director shall have primary 
        responsibility within the Department for all activities and 
        matters relating to land use and zoning reform, including the 
        following:
                    ``(A) To collect, process, assemble, coordinate 
                research, and disseminate information on State and 
                local regulations and policies affecting the creation 
                and maintenance of affordable housing.
                    ``(B) To provide technical assistance to State and 
                local communities regarding State and local regulations 
                and policies affecting the creation and maintenance of 
                affordable housing.
                    ``(C) To maintain a Regulatory Barriers 
                Clearinghouse and a database of land use policies 
                across the United States.
                    ``(D) To administer the Unlocking Possibilities 
                Program under section 105 of the Community Housing Act 
                of 2024.
                    ``(E) To administer the Shared Equity Housing 
                Resource Center established under section 203(b) of the 
                Community Housing Act of 2024.
                    ``(F) To issue, not later than 2 years after the 
                date of the enactment of this Act, guidance and best 
                practices regarding State and local land use and zoning 
                regulations and policies affecting the creation and 
                maintenance of affordable housing, and to maintain and 
                update such guidance and best practices regularly.''.
    (b) Transfer; Redesignation.--The Secretary of Housing and Urban 
Development shall provide for--
            (1) the transfer of the administration of the Regulatory 
        Barriers Clearinghouse of the Department, which as of the date 
        of the enactment of this Act is the responsibility of the 
        Office of Policy Development and Research, to the Director of 
        the Office of Community Land Use and Zoning established under 
        section 4(i) of the Department of Housing and Urban Development 
        Act, as added by the amendment made by subsection (a) of this 
        section; and
            (2) the redesignation of the Regulatory Barriers 
        Clearinghouse as the Community Land Use and Zoning Research 
        Center.
    (c) Authorization of Appropriations.--There is authorized to be 
appropriated $2,000,000 for each of fiscal years 2024 through 2028 for 
costs of personnel for and activities of the Office of Community Land 
Use and Zoning.

SEC. 109. CONTINUATION OF FHA-FFB AFFORDABLE RENTAL HOUSING FINANCING 
              PARTNERSHIP.

    The Secretary of Housing and Urban Development shall continue to 
carry out the FHA affordable rental housing financing partnership with 
the Federal Financing Bank, under which such Bank provides financing 
for loans insured under the FHA Multifamily Risk-Sharing Program under 
section 542 of the Housing and Community Development Act of 1992 (12 
U.S.C. 1707), and may enter into such new commitments under such 
program during fiscal year 2024 and fiscal years thereafter, subject to 
the overall limitations provided in this Act on new commitments to 
guarantee loans insured under the General and Special Risk Insurance 
Funds, as authorized by sections 238 and 519 of the National Housing 
Act (12 U.S.C. 1715z-3 and 1735c).

SEC. 110. INCREASE OF MINIMUM STATE ALLOCATIONS UNDER HOUSING PROGRAMS.

    (a) Housing Trust Fund.--Subparagraph (C) of section 1338(c)(4) of 
the Federal Housing Enterprises Financial Safety and Soundness Act of 
1992 (12 U.S.C. 4568(c)(4)(C)) is amended by striking ``$3,000,000'' 
each place such term appears and inserting ``$6,000,000''.
    (b) HOME Investment Partnerships Program.--Subparagraph (A) of 
section 217(b)(2) of the Cranston-Gonzalez National Affordable Housing 
Act (42 U.S.C. 12747(b)(2)(A)) is amended by striking ``$3,000,000'' 
each place such term appears and inserting ``$6,000,000''.

          TITLE II--RENTAL SUPPORT AND PERPETUAL AFFORDABILITY

SEC. 201. PERMANENT EMERGENCY RENTAL ASSISTANCE PROGRAM.

     Section 3201 of the American Rescue Plan Act of 2021 (15 U.S.C. 
9058c) is amended--
            (1) in subsection (a), by adding at the end the following 
        new paragraphs:
            ``(3) Appropriation.--In addition to amounts otherwise 
        available, there is appropriated to the Secretary of the 
        Treasury for each of fiscal years 2024 through 2029, out of any 
        money in the Treasury not otherwise appropriated, 
        $3,000,000,000, for making payments to eligible grantees under 
        this section.
            ``(4) Reservation of funds.--Of the amount appropriated 
        under paragraph (1), the Secretary shall reserve--
                    ``(A) $42,300,000 for making payments under this 
                section to the Commonwealth of Puerto Rico, the United 
                States Virgin Islands, Guam, the Commonwealth of the 
                Northern Mariana Islands, and American Samoa;
                    ``(B) $4,170,000 for costs of the Secretary for the 
                administration of emergency rental assistance programs 
                and technical assistance to recipients of any grants 
                made by the Secretary to provide financial and other 
                assistance to renters;
                    ``(C) $417,000 for administrative expenses of the 
                Inspector General relating to oversight of funds 
                provided in this section; and
                    ``(D) $360,000,000 or payments to high-need 
                grantees as provided in this section.'';
            (2) in subsection (b)--
                    (A) in paragraph (1)(A)--
                            (i) in the matter preceding clause (i)--
                                    (I) by inserting ``or (3)'' after 
                                ``paragraph (1)''; and
                                    (II) by inserting ``or (4), 
                                respectively,'' after ``paragraph 
                                (2)''; and
                            (ii) in clause (iii), by inserting ``or, 
                        with respect to amounts appropriated under 
                        subsection (a)(3), by substituting 
                        `$22,000,000' for `$200,000,000' each place 
                        such term appears'' before the semicolon at the 
                        end; and
                    (B) in paragraph (2)--
                            (i) in the matter preceding subparagraph 
                        (A)--
                                    (I) by striking ``The amount'' and 
                                inserting ``The amounts''; and
                                    (II) by inserting ``and under 
                                subsection (a)(4)(A)'' after 
                                ``subsection (a)(2)(A)'';
                            (ii) in subparagraph (A), by inserting ``or 
                        (a)(4)(A)'' before ``of section 3201''; and
                            (iii) in subparagraph (B), by inserting 
                        ``or (a)(3)'' after ``subsection (a)(1)'';
            (3) in subsection (d)--
                    (A) in paragraph (1)(D), by inserting ``or October 
                1, 2025, in the case of funds made available by 
                subsection (a)(3),''; and
                    (B) in paragraph (2), ``or (a)(3)'' after 
                ``subsection (a)(1)'';
            (4) in subsection (e)(1)--
                    (A) by striking ``March 1, 2022'' and inserting 
                ``the first day of the first month commencing more than 
                12 months after the enactment of an Act making amounts 
                available for payments to eligible grantees under this 
                section''; and
                    (B) by inserting ``made available under such Act 
                and'' after ``reallocate funds''; and
            (5) in subsection (g), by striking ``September 30, 2025'' 
        and inserting ``the fifth September 30 occurring after the date 
        of the enactment of the Act making such funds available for 
        payments to such eligible grantee''.

SEC. 202. HUD EVICTION PROTECTION GRANT PROGRAM.

    In addition to amounts otherwise made available, there is 
appropriated to the Secretary of Housing and Urban Development for each 
of fiscal years 2024 through 2033, out of any money in the Treasury not 
otherwise appropriated, $10,000,000 for grants under the Eviction 
Protection Grant Program of the Office of Policy Development and 
Research.

SEC. 203. SHARED EQUITY HOUSING RESOURCES.

    (a) Funding.--In addition to amounts otherwise made available, 
there is appropriated for fiscal year 2024 for payment to the 
Neighborhood Reinvestment Corporation for use in neighborhood 
reinvestment activities, as authorized by the Neighborhood Reinvestment 
Corporation Act (42 U.S.C. 8101-8107), $12,000,000, to remain available 
until September 30, 2027: Provided, That such amount shall be for the 
promotion and development of shared equity housing models, including 
for capital grants for NeighborWorks affiliates to acquire homes for 
their shared equity portfolios.
    (b) Resource Center.--The Secretary of Housing and Urban 
Development shall establish and maintain, under the Office of Community 
Land Use and Zoning, a Shared Equity Housing Resource Center to provide 
technical and legal assistance and resources to communities and the 
general public regarding forming shared equity housing governance 
structures, including affordable housing community land trusts. There 
is authorized to be appropriated for each fiscal year such sums as may 
be necessary to operate such Resource Center.

SEC. 204. HOMEOWNERSHIP ASSISTANCE.

    (a) Rural Homeownerhip.--
            (1) Appropriation.--In addition to amounts otherwise 
        available, there is appropriated to the Secretary of 
        Agriculture for each of fiscal years 2024 through 2033, out of 
        any money in the Treasury not otherwise appropriated--
                    (A) $4,000,000,000, for gross obligations for the 
                principal amount of direct loans as authorized by 
                section 502 of the Housing Act of 1949 (42 U.S.C. 
                1472); and
                    (B) $148,400,000 for the cost of direct loans 
                authorized by such section 502, including the cost of 
                modifying loans, as defined in section 502 of the 
                Congressional Budget Act of 1974 (2 U.S.C. 661a).
            (2) Interest rate.--Notwithstanding any other provision of 
        law, the annual interest rate payable on a direct loan 
        authorized by section 502 of the Housing Act of 1949 (42 U.S.C. 
        1472), as modified by payment assistance, may not be lower than 
        1.0 percent.
    (b) Housing Choice Voucher Downpayment Program.--In addition to 
amounts otherwise available, there is appropriated to the Secretary of 
Housing and Urban Development for each of fiscal years 2024 through 
2033, out of any money in the Treasury not otherwise appropriated, 
$1,000,000,000, for providing downpayment assistance under section 
8(y)(7) of the United States Housing Act of 1937 (42 U.S.C. 
1437f(y)(7)).

SEC. 205. REPORT ON TAX ON SECONDARY HOMES.

    The Secretary of the Treasury shall, not later than 180 days after 
the date of the enactment of this Act, submit to Congress a report on 
the feasibility, economic consequences, and revenue effects of 
establishing a tax on vacation homes and short-term rental homes.

SEC. 206. NATIONAL HOUSING INFORMATION DATABASE.

    (a) Establishment.--The Secretary of Housing and Urban Development 
and the Director of the Federal Housing Finance Agency shall jointly 
establish and maintain a national database of landlords of residential 
rental dwelling units in multifamily housing.
    (b) Information.--The Secretary and the Director shall require each 
landlord of a residential rental dwelling unit in multifamily housing 
to submit to the database the following information regarding a 
residential rental dwelling unit:
            (1) The identity of the landlord and owner of the dwelling 
        unit and contact information for such landlord and owner.
            (2) The total number of residential rental dwelling units 
        in the property in which such dwelling unit is located.
            (3) The total number of residential rental dwelling units 
        owned by or under the control of such landlord.
            (4) The total number of properties containing residential 
        dwelling units managed by such landlord and owned by such 
        owner, the number of residential rental dwelling units in each 
        such property.
            (5) Whether the landlord uses real estate and property 
        management software in making residential rental dwelling units 
        available for rental and, if so, the identity of such software.
    (c) Availability.--Information maintained in the database shall be 
made publicly available on a website of the registry.
    (d) Definitions.--For purposes of this section, the following 
definitions shall apply:
            (1) Landlord.--The term ``landlord'' means, with respect to 
        a residential rental dwelling unit, the person or entity having 
        legal authority to lease such dwelling unit.
            (2) Multifamily housing.--The term ``multifamily housing'' 
        means a residence consisting of 5 or more dwelling units.
    (e) Annual Report.--The Secretary and the Director shall submit a 
report to the Congress, the Federal Trade Commission, the Attorney 
General of the United States, and the Attorney General for each State 
annually assessing the extent of concentration in ownership of 
residential rental dwelling units and the issues and dangers posed by 
such concentration.

                        TITLE III--RURAL HOUSING

SEC. 301. PERMANENT ESTABLISHMENT OF HOUSING PRESERVATION AND 
              REVITALIZATION PROGRAM; DECOUPLING RENTAL ASSISTANCE.

     Title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.) is 
amended by adding at the end the following new section:

``SEC. 545. HOUSING PRESERVATION AND REVITALIZATION PROGRAM.

    ``(a) Establishment.--The Secretary shall carry out a program under 
this section for the preservation and revitalization of multifamily 
rental housing projects financed under section 515 or both sections 514 
and 516.
    ``(b) Notice of Maturing Loans.--
            ``(1) To owners.--On an annual basis, the Secretary shall 
        provide written notice to each owner of a property financed 
        under section 515 or both sections 514 and 516 that will mature 
        within the 4-year period beginning upon the provision of the 
        notice, setting forth the options and financial incentives that 
        are available to facilitate the extension of the loan term or 
        the option to decouple a rental assistance contract pursuant to 
        subsection (f).
            ``(2) To tenants.--
                    ``(A) In general.--For each property financed under 
                section 515 or both sections 514 and 516, not later 
                than the date that is 2 years before the date that the 
                loan will mature, the Secretary shall provide written 
                notice to each household residing in the property that 
                informs them of the date of the loan maturity, the 
                possible actions that may happen with respect to the 
                property upon that maturity, and how to protect their 
                right to reside in federally assisted housing after 
                that maturity.
                    ``(B) Language.--Notice under this paragraph shall 
                be provided in plain English and shall be translated to 
                other languages in the case of any property located in 
                an area in which a significant number of residents 
                speak such other languages.
    ``(c) Loan Restructuring.--Under the program under this section, in 
any circumstance in which the Secretary proposes a restructuring to an 
owner or an owner proposes a restructuring to the Secretary, the 
Secretary may restructure such existing housing loans, as the Secretary 
considers appropriate, for the purpose of ensuring that those projects 
have sufficient resources to preserve the projects to provide safe and 
affordable housing for low-income residents and farm laborers, by--
            ``(1) reducing or eliminating interest;
            ``(2) deferring loan payments;
            ``(3) subordinating, reducing, or reamortizing loan debt; 
        and
            ``(4) providing other financial assistance, including 
        advances, payments, and incentives (including the ability of 
        owners to obtain reasonable returns on investment) required by 
        the Secretary.
    ``(d) Renewal of Rental Assistance.--
            ``(1) In general.--When the Secretary proposes to 
        restructure a loan or agrees to the proposal of an owner to 
        restructure a loan pursuant to subsection (c), the Secretary 
        shall offer to renew the rental assistance contract under 
        section 521(a)(2) for a 20-year term that is subject to annual 
        appropriations, provided that the owner agrees to bring the 
        property up to or maintain the property at such standards that 
        will ensure maintenance of the property as decent, safe, and 
        sanitary housing for the full term of the rental assistance 
        contract.
            ``(2) Additional rental assistance.--
                    ``(A) In general.--With respect to a project 
                described in paragraph (1), if rental assistance is not 
                available for all households in the project for which 
                the loan is being restructured pursuant to subsection 
                (c), the Secretary may extend such additional rental 
                assistance to unassisted households at that project as 
                is necessary to make the project safe and affordable to 
                low-income households.
                    ``(B) Unavailable property.--In the event that a 
                property is not available to provide additional rental 
                assistance to households under subparagraph (A), the 
                Secretary may offer a rural housing voucher to those 
                households.
    ``(e) Restrictive Use Agreements.--
            ``(1) Requirement.--As part of the preservation and 
        revitalization agreement for a project, the Secretary shall 
        obtain a restrictive use agreement that obligates the owner to 
        operate the project in accordance with this title.
            ``(2) Term.--
                    ``(A) No extension of rental assistance contract.--
                Except when the Secretary enters into a 20-year 
                extension of the rental assistance contract for a 
                project, the term of the restrictive use agreement for 
                the project shall be consistent with the term of the 
                restructured loan for the project.
                    ``(B) Extension of rental assistance contract.--If 
                the Secretary enters into a 20-year extension of the 
                rental assistance contract for a project, the term of 
                the restrictive use agreement for the project shall be 
                for 20 years.
                    ``(C) Termination.--The Secretary may terminate the 
                20-year use restrictive use agreement for a project 
                before the end of the term of the agreement if the 20-
                year rental assistance contract for the project with 
                the owner is terminated at any time for reasons outside 
                the control of the owner.
    ``(f) Decoupling of Rental Assistance.--
            ``(1) Renewal of rental assistance contract.--If the 
        Secretary determines that a maturing loan for a project cannot 
        reasonably be restructured in accordance with subsection (c) 
        because it is not financially feasible or the owner does not 
        agree with the proposed restructuring, and the project was 
        operating with rental assistance under section 521, the 
        Secretary may renew the rental assistance contract, 
        notwithstanding any provision of section 521, for a term, 
        subject to annual appropriations, of 20 years, provided that 
        the owner enters into a restrictive use agreement.
            ``(2) Additional rental assistance.--With respect to a 
        project described in paragraph (1), if rental assistance is not 
        available for all households in the project, the Secretary may 
        extend such additional rental assistance to unassisted 
        households at that project as is necessary to make the project 
        safe and affordable to low-income households.
            ``(3) Rents.--Any agreement to extend the term of the 
        rental assistance contract under section 521 for a project 
        shall obligate the owner to continue to maintain the project as 
        decent, safe, and sanitary housing and to operate the 
        development in accordance with this title, except that rents 
        shall be based on the lesser of--
                    ``(A) the budget-based needs of the project; or
                    ``(B) the operating cost adjustment factor as a 
                payment standard as provided under section 524 of the 
                Multifamily Assisted Housing Reform and Affordability 
                Act of 1997 (42 U.S.C. 1437 note).
            ``(4) Conditions for approval.--
                    ``(A) Plan.--Before the approval of a rental 
                assistance contract authorized under this section, the 
                Secretary shall require the owner to submit to the 
                Secretary a plan that identifies financing sources and 
                a timetable for renovations and improvements determined 
                to be necessary by the Secretary to maintain and 
                preserve the project.
                    ``(B) Automatic approval.--If a plan submitted 
                under subparagraph (A) is not acted upon by the 
                Secretary within 30 days of the submission, the rental 
                assistance contract is automatically approved for not 
                more than a 1-year period.
    ``(g) Multifamily Housing Transfer Technical Assistance.--Under the 
program under this section, the Secretary may provide grants to 
qualified nonprofit organizations and public housing agencies to 
provide technical assistance, including financial and legal services, 
to borrowers under loans under this title for multifamily housing to 
facilitate the acquisition of such multifamily housing properties in 
areas where the Secretary determines there is a risk of loss of 
affordable housing.
    ``(h) Transfer of Rental Assistance.--After the loan or loans for a 
rental project originally financed under section 515 or both sections 
514 and 516 have matured or have been prepaid and the owner has chosen 
not to restructure the loan pursuant to subsection (c)--
            ``(1) a tenant residing in the project shall have 18 months 
        before loan maturation or prepayment to transfer the rental 
        assistance assigned to the unit of the tenant to another rental 
        project originally financed under section 515 or both sections 
        514 and 516, and such tenants will have priority for admission 
        over other applicants; and
            ``(2) the owner of the initial project may rent the 
        previous unit of the tenant to a new tenant without income 
        restrictions.
    ``(i) Administrative Expenses.--Of any amounts made available for 
the program under this section for any fiscal year, the Secretary may 
use not more than $1,000,000 for administrative expenses for carrying 
out such program.
    ``(j) Authorization of Appropriations.--There is authorized to be 
appropriated for the program under this section $200,000,000 for each 
of fiscal years 2024 through 2028.
    ``(k) Rulemaking.--
            ``(1) In general.--Not later than 180 days after the date 
        of enactment of this section, the Secretary shall--
                    ``(A) publish an advance notice of proposed 
                rulemaking; and
                    ``(B) consult with appropriate stakeholders.
            ``(2) Interim final rule.--Not later than 1 year after the 
        date of enactment of this section, the Secretary shall publish 
        an interim final rule to carry out this section.''.

SEC. 302. INTERAGENCY TASK FORCE TO COORDINATE DELIVERY OF SUBSTANCE 
              USE DISORDER TREATMENT AND AFFORDABLE HOUSING 
              AVAILABILITY.

    (a) Establishment.--The Secretary of Housing and Urban Development 
and the Secretary of Health and Human Services shall jointly establish 
an interagency task force to develop and make recommendations the 
Congress to better coordinate delivery of treatment for substance use 
disorder in an affordable housing setting.
    (b) Members.--The Secretary of Housing and Urban Development and 
the Secretary of Health and Human Services shall each appoint 5 members 
to the task force.
    (c) Report.--Not later than the expiration of the 2-year period 
beginning on the date of the enactment of this Act, the task force 
shall submit a report to the Congress making recommendations on how to 
better coordinate delivery of treatment for substance use disorder in 
an affordable housing setting.
    (d) Termination.--The task force shall terminate 90 days after 
submission of the report required under subsection (c).
                                 <all>
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