I 
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. GARCI´A 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. RAMI-
REZ, Ms. SA´NCHEZ, Ms. SCHAKOWSKY, Mr. SMITH of Washington, Ms. 
STANSBURY, Mr. THANEDAR, Ms. TLAIB, Ms. TOKUDA, Ms. UNDER-
WOOD, Mrs. WATSON COLEMAN, Ms. PORTER, and Mr. POCAN) intro-
duced the following bill; which was referred to the Committee on Finan-
cial 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 com-
mittee 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 afford-
ability through shared equity housing and community 
land trust models, investigating landlord price fixing, 
and providing relief for rural renters, and for other pur-
poses. 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6652
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
Be it enacted by the Senate and House of Representa-
tives 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 part-
nership. 
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 dis-
order treatment and affordable housing availability. 
SEC. 2. CONGRESSIONAL FINDINGS. 
The Congress finds that— 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
(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 in-
creased 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 Agri-
culture 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 afford-
able housing; 
(7) the HTF is an important source of gap fi-
nancing 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 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
affordable housing and other related economic devel-
opment projects in distressed communities; 
(9) the HTF and CMF are funded through con-
tributions from the Government-sponsored enter-
prises (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 condi-
tions; 
(12) the HOME program is used, in combina-
tion with housing tax credits, by State housing fi-
nance 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 dispropor-
tionately affect low- and moderate-income families 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
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 need-
less barriers to affordable housing production, in-
cluding permitting for manufactured housing com-
munities; 
(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; 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
(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 pan-
demic, provided rental and utility assistance to more 
than 5 million households; 
(26) these funds protected renters and land-
lords and have demonstrated the need for a perma-
nent emergency rental assistance program; 
(27) analysis shows that daily eviction rates fell 
dramatically due to the ERAP; 
(28) State and local public developers are inno-
vating 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 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
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.’’. 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
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 Fi-
nancial 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 oth-
erwise made available, there is appropriated to the Capital 
Magnet Fund, out of any money in the Treasury not oth-
erwise 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 other-
wise made available, there is appropriated to the Secretary 
of Housing and Urban Development (in this section re-
ferred 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 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
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 para-
graph (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 Sep-
tember 30, 2033, to make new awards or increase 
prior awards to existing technical assistance pro-
viders to provide an increase in capacity building 
and technical assistance available to any grantees 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00009
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
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 evalua-
tions, 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) pursu-
ant 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) pursu-
ant to the formula specified in section 
1338(c)(3) of the Federal Housing Enterprises 
Financial Safety and Soundness Act of 1992 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00010
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
(12 U.S.C. 4568(c)(3)) to grantees that re-
ceived Housing Trust Fund allocations pursu-
ant 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 pro-
vided in paragraph (5) of this subsection, funds 
made available under subsection (a)(2) may only be 
used for eligible activities described in subpara-
graphs (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 sub-
paragraph (B)(i). 
(3) FUNDING
RESTRICTIONS.—The commit-
ment 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 re-
quired in section 231 of NAHA (42 U.S.C. 12771) 
shall not apply for amounts made available under 
this section. 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00011
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
(4) REALLOCATION.—For funds provided under 
paragraphs (1) and (2) of subsection (a), the Sec-
retary 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 avail-
ability of funding to communities within the State 
from which the funds have been recaptured. 
(5) ADMINISTRATION.—Notwithstanding sub-
sections (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 ad-
ministrative and planning costs. 
(c) WAIVERS.—The Secretary may waive or specify 
alternative requirements for any provision of the Cran-
ston-Gonzalez National Affordable Housing Act specified 
in subsection (a)(1) or (a)(2) or regulation for the admin-
istration of the amounts made available under this section 
other than requirements related to tenant rights and pro-
tections, 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. 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00012
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
(d) IMPLEMENTATION.—The Secretary shall have au-
thority to issue such regulations, notices, or other guid-
ance, forms, instructions, and publications to carry out the 
programs, projects, or activities authorized under this sec-
tion 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 other-
wise 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 appro-
priated— 
(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 re-
cipients to carry out grants under subsection (c) of 
this section; 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00013
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
(2) $8,000,000 for research and evaluation re-
lated 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 develop-
ment programs overseen by the Secretary generally, 
including information technology, financial report-
ing, research and evaluations, and other cross-pro-
gram costs in support of programs administered by 
the Secretary in this title, and other costs. 
Amounts appropriated by this section shall remain avail-
able until September 30, 2033. 
(b) PROGRAM ESTABLISHMENT.—The Secretary of 
Housing and Urban Development, acting through the Di-
rector 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 es-
tablish a competitive grant program for— 
(1) planning grants to develop and evaluate 
housing plans and substantially improve housing 
strategies; 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00014
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
(2) streamlining regulatory requirements and 
shorten processes, reform zoning codes, increasing 
capacity to conduct housing inspections, or other ini-
tiatives that reduce barriers to housing supply elas-
ticity 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 effi-
ciency; 
(4) implementation and livable community in-
vestment 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, engage-
ment with community stakeholders and housing 
practitioners, to— 
(A) develop housing plans; 
(B) substantially improve State or local 
housing strategies; 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00015
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
(C) develop new regulatory requirements 
and processes, reform zoning codes, increasing 
capacity to conduct housing inspections, or un-
dertake 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 de-
velopment strategies, including strategies to in-
crease availability and access to affordable 
housing, to further access to public transpor-
tation or to advance other sustainable or loca-
tion-efficient community development goals. 
(2) IMPLEMENTATION
AND
LIVABLE
COMMU-
NITY
INVESTMENT
GRANTS.—The Secretary shall 
award implementation grants under this paragraph 
on a competitive basis to eligible entities for the pur-
pose of implementing and administering— 
(A) completed housing strategies and hous-
ing plans and any planning to affirmatively fur-
ther fair housing within the meaning of sub-
sections (d) and (e) of section 808 of the Fair 
Housing Act (42 U.S.C. 608) and applicable 
regulations and for community investments that 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00016
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS
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 devel-
opment projects. 
(c) USE OF FUNDS.—An eligible recipient of a com-
munity land trust grant awarded under subsection (a) 
shall use such grant for establishing and operating a com-
munity land trust or shared equity homeownership pro-
gram; creation, subsidization, construction, acquisition, re-
habilitation, 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 main-
tained— 
(1) in the case of rental units, including units 
in mixed-use properties, are affordable and acces-
sible to a household whose income does not exceed 
80 percent of the median income for the area, as de-
termined by the Secretary, for a period of not less 
than 30 years; and 
(2) in the case of homeownership units, are af-
fordable and accessible to households whose incomes 
VerDate Sep 11 2014 
20:01 Feb 29, 2024
Jkt 049200
PO 00000
Frm 00022
Fmt 6652
Sfmt 6201
E:\BILLS\H7325.IH
H7325
ssavage on LAPJG3WLY3PROD with BILLS