Bills · HR 1042
IN COMMITTEE· 119TH CONGRESS
House BillHR 1042Housing supply and affordabilityHousing and community development funding
Project Turnkey Act
INTRO FEB 6· LAST ACTION FEB 6
READING
6MIN
COSPONSORS
15
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it offers a direct approach to tackling the housing crisis and homelessness by repurposing existing, often underutilized, buildings. Many communities face a shortage of affordable housing and shelter beds, while also having vacant commercial properties.
If this bill becomes law, it could rapidly expand the supply of non-congregate shelters and affordable rental housing, providing immediate relief for vulnerable populations. It would also allow for flexible use of funds, addressing not just the physical structures but also the critical support services people need to achieve long-term housing stability. If it doesn't pass, communities will likely continue to rely on existing, often insufficient, resources to address homelessness, potentially missing an opportunity to quickly leverage vacant properties.
KEY PROVISIONS
5AI-extractedPROVISION 01
Establishes a 'Project Turnkey Program' within the HOME Investment Partnerships Act to award funds to eligible entities.
This creates a new federal funding stream specifically for converting vacant buildings into housing and shelters, expanding resources for communities.
PROVISION 02
Allows eligible entities to use funds for acquiring, developing, rehabilitating, retrofitting, and converting vacant properties (like hotels, motels, schools, hospitals, office buildings) into affordable housing or shelters.
This provision directly enables the repurposing of existing structures, potentially offering a quicker and more cost-effective way to increase housing supply than new construction.
PROVISION 03
Permits funds to be used for rental assistance (rent, security deposits, utilities) and supportive services (housing counseling, homeless prevention, various other services).
This ensures that the program addresses not only the physical housing but also the critical financial and social support necessary for individuals and families to maintain housing stability.
PROVISION 04
Authorizes $1,000,000,000 annually for the program, with specific allocations for technical assistance and administrative costs, and allows these funds to be available until 2035.
This provides substantial and sustained funding for communities to implement the program over more than a decade, indicating a long-term commitment to addressing housing needs.
PROVISION 05
Waives certain existing requirements from other housing acts (like cost limits, matching requirements, and set-asides) for funds appropriated under this program.
These waivers aim to streamline the process, reduce bureaucratic hurdles, and allow for faster deployment of funds to address urgent housing needs.
SPONSORSHIP
1 + 15
D· Oregon
YRS IN OFFICE
14
BILLS LED
67
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 15 REP 0 IND 0
ACTION TIMELINE
2 EVENTSFEB 6
Introduced in House
FEB 6
Referred to the House Committee on Financial Services.
BILL INFO
TypeHouse Bill
NumberHR 1042
Congress119th
StatusIn Committee
IntroducedFeb 6, 2025
Last actionFeb 6, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED FEB 6, 2025
House BillHR 1042Housing supply and affordabilityHousing and community development funding
Project Turnkey Act
INTRODUCED FEB 6, 2025· LAST ACTION FEB 6, 2025
PASSAGE CHANCES
—%
READING
6 min
COSPONSORS
15
COMPLEXITY
Moderate
