(e) ENVIRONMENTAL REVIEW.—For purposes of en-
vironmental review, assistance and projects under this Act 
shall be— 
(1) treated as assistance for special projects 
that are subject to section 305(c) of the Multifamily 
Housing Property Disposition Reform Act of 1994 
(42 U.S.C. 3547(c)); and 
(2) subject to the regulations issued by the Sec-
retary to implement such section. 
(f) GRANTEE REPORTING.—The Secretary shall re-
quire grantees under this Act to report the sources and 
uses of all amounts expended and other information for 
transformation plans for the annual report of the Sec-
retary to Congress or other purposes as determined by the 
Secretary. 
SEC. 11. DEMOLITION AND DISPOSITION. 
(a) INAPPLICABILITY OF PUBLIC HOUSING DEMOLI-
TION
AND
DISPOSITION
REQUIREMENTS
TO
TRANS-
FORMATION PLAN.—The demolition or disposition of se-
verely distressed public housing pursuant to a trans-
formation plan approved under this Act shall be exempt 
from the provisions of section 18 of the United States 
Housing Act of 1937 (42 U.S.C. 1437p). 
(b) APPLICABILITY OF PUBLIC HOUSING DEMOLI-
TION AND DISPOSITION REQUIREMENTS TO REPLACE-
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MENT PUBLIC HOUSING.—Nothing in this Act may be 
construed to exempt any replacement public housing 
dwelling units provided under a transformation plan in ac-
cordance with the requirements under section 8 (relating 
to one-for-one replacement of public housing dwelling 
units) from the provisions of section 18 of the United 
States Housing Act of 1937 (42 U.S.C. 1437p). 
SEC. 12. PHASE-SPECIFIC UNDERWRITING. 
To the extent that a transformation plan provides for 
different phases of activities, the Secretary may allow for 
the various phases of the plan to be underwritten on a 
separate basis. 
SEC. 13. ADMINISTRATION BY OTHER ENTITIES. 
The Secretary may require a grantee under this Act 
to make arrangements satisfactory to the Secretary for 
use of an entity other than the original grantee to carry 
out activities assisted under the transformation plan of the 
grantee, if— 
(1) the original grantee has failed to meet per-
formance benchmarks relating to implementation of 
the transformation plan; and 
(2) the Secretary determines that the action 
will help to effectuate the purposes of this Act. 
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SEC. 14. WITHDRAWAL OF FUNDING. 
If a grantee under this Act does not proceed within 
a reasonable timeframe in implementing the trans-
formation plan of the grantee or does not otherwise com-
ply with the requirements of this Act and the grant agree-
ment, as determined by the Secretary, the Secretary 
may— 
(1) withdraw any grant amounts under this Act 
that have not been obligated by the grantee; and 
(2) redistribute any withdrawn amounts to 1 or 
more other eligible entities capable of proceeding ex-
peditiously in the same locality in carrying out the 
transformation plan of the original grantee, or as 
such plan may be modified and approved by the Sec-
retary, or, if that is not feasible, to 1 or more other 
applicants that have already received assistance 
under this Act. 
SEC. 15. ANNUAL REPORT; PUBLIC AVAILABILITY OF 
GRANT INFORMATION. 
(a) ANNUAL REPORT.—Not less than 90 days before 
the conclusion of each fiscal year, the Secretary shall sub-
mit to the Committee on Banking, Housing, and Urban 
Affairs of the Senate and the Committee on Financial 
Services of the House of Representatives a report on the 
implementation and status of grants awarded under this 
Act, which shall include— 
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(1) the number, type, and cost of affordable 
housing units revitalized pursuant to this Act; 
(2) the amount and type of financial assistance 
provided under and in conjunction with this Act, in-
cluding a specification of the amount and type of as-
sistance provided for educational opportunities, serv-
ices, public assets, public transportation, and access 
to jobs; 
(3) the impact of grants made under this Act 
on the original residents, the target neighborhoods, 
and the larger communities within which they are lo-
cated; 
(4) all information submitted to the Secretary 
pursuant to section 8(e)(1) by all grantees and sum-
maries of the extent of compliance by grantees with 
the requirements under subsections (a) and (g) of 
section 8; and 
(5) any information related to grantees imple-
mentation of the requirements under section 9 (re-
lating to one-for-one replacement of public housing 
dwelling units) and the efforts of the Secretary to 
coordinate funding pursuant to section 6(e)(3). 
(b) PUBLIC AVAILABILITY
OF GRANT INFORMA-
TION.— 
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(1) IN
GENERAL.—To the extent not incon-
sistent with any other provisions of law, the Sec-
retary shall make publicly available through a 
website of the Department of Housing and Urban 
Development all documents of, or filed with, the De-
partment relating to the program under this Act, in-
cluding applications, grant agreements, plans, budg-
ets, reports, and amendments to those documents. 
(2) PRIVACY.—In carrying out this subsection, 
the Secretary shall take such actions as may be nec-
essary to protect the privacy of any residents and 
households displaced from public or assisted housing 
as a result of a transformation plan assisted under 
a grant under this Act. 
SEC. 16. FUNDING. 
There are authorized to be appropriated the following 
amounts: 
(1) GRANTS.—$1,000,000,000 for fiscal year 
2026 and such sums as may be necessary in each 
subsequent fiscal year, for grants under this Act, of 
which, in any fiscal year— 
(A) up to 10 percent of such amount au-
thorized may be used for planning grants, ex-
cept that in awarding planning grants, the Sec-
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