I 

118TH CONGRESS 

2D SESSION H. R. 7862 

To direct the Secretary of Housing and Urban Development to undertake 

activities to facilitate the conversion of certain buildings owned by Federal, State, or local government into affordable residential rental projects, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 2, 2024 

Mr. SCHIFF (for himself, Mr. GOMEZ, and Mr. AMO) introduced the following 

bill; which was referred to the Committee on Financial Services 

A BILL 

To direct the Secretary of Housing and Urban Development 

to undertake activities to facilitate the conversion of certain buildings owned by Federal, State, or local government into affordable residential rental projects, and for 

other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Government Agencies 

5 Affordable Housing Conversion Act of 2024’’. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
2 

•HR 7862 IH

1 SEC. 2. ANNUAL HOUSING CONVERSION REPORT. 

2 Not later than 1 year after the date of the enactment 

3 of this section, and annually thereafter, the Secretary of 

4 Housing and Urban Development, in coordination with the 

5 Administrator of General Services and the Director of the 

6 Office of Management and Budget, shall conduct a study 

7 and submit to Congress a report, to be known as the ‘‘An8 nual Housing Conversion Report’’, that examines— 

9 (1) whether the real estate owned by the Fed10 eral Government is being optimized; 

11 (2) whether the amount of real estate owned by 

12 the Federal Government should be reduced; and 

13 (3) whether any real estate owned by the Fed14 eral Government could be converted into affordable 

15 dwelling units. 

16 SEC. 3. EXPANSION OF EXPLORING OFFICE TO RESIDEN17 TIAL CONVERSIONS GRANT PROGRAM. 

18 There is authorized to be appropriated to carry out 

19 the grant program originally announced by the Secretary 

20 of Housing and Urban Development on June 21, 2023, 

21 known as the ‘‘Exploring Office to Residential Conversions 

22 Program’’, $1,750,000 for each of fiscal years 2025 

23 through 2030. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
3 

•HR 7862 IH

1 SEC. 4. STATE AND LOCAL AFFORDABLE HOUSING CON2 VERSION GRANT PROGRAM. 

3 (a) ESTABLISHMENT.—Not later than 1 year after 

4 the date of the enactment of this section, the Secretary 

5 of Housing and Urban Development shall establish a 

6 grant program, to be known as the ‘‘Office to Residential 

7 Affordable Housing Conversion Program’’ (in this section 

8 referred to as the ‘‘Conversion Program’’), to facilitate the 

9 conversion of buildings owned by a State or unit of local 

10 government into qualified residential rental projects. 

11 (b) ELIGIBLE RECIPIENTS.—In administering the 

12 Conversion Program, the Secretary shall make grants 

13 available to States and units of local government on a 

14 competitive basis in accordance with this section. 

15 (c) APPLICATION.—To be eligible for a grant under 

16 the Conversion Program, an entity described in subsection 

17 (b) shall submit to the Secretary an application in such 

18 form, at such time, and containing such information as 

19 the Secretary determines appropriate. 

20 (d) USE OF FUNDS.—Each entity that is awarded an 

21 amount under the Conversion Program may use such 

22 amount for the acquisition of an eligible building and any 

23 costs associated with converting such building into quali24 fied residential rental projects. 

25 (e) CONSULTATION WITH CONTINUUM OF CARE

26 PROJECT SPONSORS.—Each entity that is awarded an 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
4 

•HR 7862 IH

1 amount under the Conversion Program is encouraged to 

2 consult with a local project sponsor receiving amounts 

3 under the continuum of care program under subtitle C of 

4 title IV of the McKinney-Vento Homeless Assistance Act 

5 (42 U.S.C. 11381 et seq.). 

6 (f) DEFINITIONS.—In this section: 

7 (1) ELIGIBLE BUILDING.—The term ‘‘eligible 

8 building’’ means a building that the Secretary, in co9 ordination with the Administrator of General Serv10 ices, determines is unused or underutilized and suit11 able for residential development. 

12 (2) QUALIFIED RESIDENTIAL RENTAL

13 PROJECT.—The term ‘‘qualified residential rental 

14 project’’ means any project for residential rental 

15 property that at all times for the period that is not 

16 less than 30 years, or the minimum period that a 

17 State or unit of local government decides that is not 

18 less than 30 years, meets the following requirements: 

19 (A) The project requires that— 

20 (i) 20 percent or more of the residen21 tial units in such project are occupied by 

22 a household with an income that does not 

23 exceed 50 percent of the median income 

24 for the area; 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
5 

•HR 7862 IH

1 (ii) 40 percent or more of the residen2 tial units in such project are occupied by 

3 a household with an income that does not 

4 exceed 60 percent of the median income 

5 for the area; or 

6 (iii) the average income of a house7 hold occupying 40 percent or more of the 

8 residential units in such project does not 

9 exceed 60 percent of the median income 

10 for the area, although individual residential 

11 units within that 40 percent of units may 

12 be occupied by a household with an income 

13 that does not exceed 80 percent of the me14 dian income for the area. 

15 (B) The housing costs, including water and 

16 sewer, electricity, heating, cooling, trash, and 

17 recycling, and other specific circumstances of 

18 the property that may also be considered in af19 fordability calculations under local regulations, 

20 with respect to each residential unit described 

21 in subparagraph (A) does not exceed 30 percent 

22 of the income limit described in subparagraph 

23 (A) that applies to the household occupying 

24 such unit. 


kjohnson on DSK7ZCZBW3PROD with $$_JOB
6 

•HR 7862 IH

1 (3) STATE.—The term ‘‘State’’ means each of 

2 the several States, the District of Columbia, each 

3 commonwealth, territory, or possession of the United 

4 States, and each federally recognized Indian Tribe. 

5 (g) AUTHORIZATION OF APPROPRIATIONS.—There is 

6 authorized to be appropriated to carry out the Conversion 

7 Program $250,000,000 for each of fiscal years 2025 

8 through 2030. 

Æ 


kjohnson on DSK7ZCZBW3PROD with $$_JOB