I 118th CONGRESS 2d Session H. R. 7325 IN THE HOUSE OF REPRESENTATIVES February 13, 2024 Ms. Balint (for herself, Mr. Gomez , Mr. Davis of Illinois , Mr. García 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. Sánchez , 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.

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. 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. 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. I Investments in housing supply 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. . 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 . 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. . 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. 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. 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. 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). 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. 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). 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 . II Rental Support and Perpetual Affordability 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 . 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. 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. 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) ). 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. 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. III Rural housing 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: 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. . 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).