abandonment pursuant to State or local law or 
otherwise meets the definition of an abandoned 
property under State law. 
(b) GRANT PROGRAM.—For each of fiscal years 2027 
through 2031, if the amounts made available to carry out 
the HOME Investment Partnerships Program exceed 
$1,350,000,000, the Secretary may use not more than 
$100,000,000 of the excess amounts to carry out a pilot 
program, to be known as the ‘‘Blighted Building to Hous-
ing Conversion Program’’, under which the Secretary 
awards grants on a competitive basis to eligible entities 
to convert vacant and abandoned buildings into attainable 
housing. 
(c) AMOUNT OF GRANT.— 
(1) IN
GENERAL.—For any fiscal year for 
which $100,000,000 is available to carry out the 
Pilot Program pursuant to subsection (b), the 
amount of a covered grant shall be not less than 
$1,000,000 and not more than $10,000,000. 
(2) FISCAL YEARS WITH LOWER FUNDING.— 
For 
any 
fiscal 
year 
for 
which 
less 
than 
$100,000,000 is available to carry out the Pilot Pro-
gram pursuant to subsection (b), the Secretary shall 
seek to maximize the number of covered grants 
awarded. 
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(d) RELATION TO HOME INVESTMENT PARTNER-
SHIPS
PROGRAM
FORMULA
ALLOCATION.—A covered 
grant awarded to an eligible entity shall be in addition 
to, and shall not affect, the formula allocation for the eligi-
ble entity under the HOME Investment Partnerships Pro-
gram. 
(e) PRIORITY.—In awarding covered grants, the Sec-
retary shall give priority to an eligible entity that— 
(1) will use the covered grant in a community 
that is experiencing economic distress; 
(2) will use the covered grant in a qualified op-
portunity zone (as defined in section 1400Z–1(a) of 
the Internal Revenue Code of 1986); 
(3) will use the covered grant to construct hous-
ing that will serve a need identified in the com-
prehensive housing affordability strategy and com-
munity development plan of the eligible entity under 
part 91 of title 24, Code of Federal Regulations, or 
any successor regulation (commonly referred to as a 
‘‘consolidated plan’’); or 
(4) has enacted ordinances to reduce regulatory 
barriers to conversion of commercial or industrial 
properties to housing, which shall not include any al-
teration of an ordinance that governs safety and 
habitability. 
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(f) USE OF FUNDS.—An eligible entity may use a 
covered grant for— 
(1) property acquisition; 
(2) demolition; 
(3) health hazard remediation; 
(4) site preparation; 
(5) construction, renovation, or rehabilitation; 
or 
(6) the establishment, maintenance, or expan-
sion of community land trusts. 
(g) APPLICABILITY
OF HOME REQUIREMENTS.— 
The requirements for rental, sale, and resale of housing 
under the HOME Investment Partnerships Program shall 
apply to rental, sale, and resale of converting housing 
units under the Pilot Program. 
(h) WAIVER AUTHORITY.—In administering covered 
grants, the Secretary may waive, or specify alternative re-
quirements for, any statute or regulation that the Sec-
retary administers in connection with the obligation by the 
Secretary or the use by eligible entities of covered grant 
funds (except for requirements related to fair housing, 
nondiscrimination, labor standards, or the environment) 
if the Secretary makes a public finding that good cause 
exists for the waiver or alternative requirement. 
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(i) STUDY; REPORT.—Not later than 180 days after 
the termination of the Pilot Program, the Secretary shall 
study and submit a report to Congress on the impact of 
the Pilot Program on— 
(1) improving the tax base of local commu-
nities; 
(2) increasing access to affordable housing, es-
pecially for elderly individuals, disabled individuals, 
and veterans; 
(3) increasing homeownership; and 
(4) removing blight. 
Æ 
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