HOME Investment Partnerships Reauthorization and Improvement Act of 2025 | ChamberLight
Bills · S 948
IN COMMITTEE· 119TH CONGRESS
Senate BillS 948Low- and moderate-income housingHousing supply and affordability
HOME Investment Partnerships Reauthorization and Improvement Act of 2025
INTRO MAR 11· LAST ACTION MAR 11
READING
23MIN
COSPONSORS
12
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8
Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-written
Voters should care about this bill because it addresses the ongoing challenge of housing affordability across the country. By reauthorizing and increasing funding for the HOME program, it aims to boost the supply of affordable housing, which can help reduce homelessness, stabilize communities, and provide economic opportunities for low-income families. The changes to administrative resources and flexibility could mean that local governments are better equipped to respond to their unique housing needs, potentially leading to more effective use of federal dollars.
If this bill becomes law, communities could see more affordable homes built or renovated, and local agencies might have an easier time managing complex housing projects. If it doesn't pass, funding for a crucial affordable housing program could lapse or stagnate, potentially worsening housing shortages and making it harder for communities to assist their residents with housing needs. The bill's focus on small-scale housing could also encourage more diverse housing options in neighborhoods.
KEY PROVISIONS
5AI-extracted
PROVISION 01
Reauthorizes the HOME Investment Partnerships Program with increasing funding for fiscal years 2025-2029.
This ensures continued federal support for affordable housing development and preservation across the nation, providing a stable funding source for communities.
PROVISION 02
Increases the amount of program funds that local governments can use for administrative activities from 10% to 15%.
This provides local housing agencies with more resources to manage complex projects, cover staffing costs, and ensure compliance, improving overall program efficiency.
PROVISION 03
Defines "small-scale housing" as housing with not more than 4 rental units and establishes alternative requirements for these units to qualify as affordable housing.
This encourages the development of smaller, potentially less complex affordable housing projects and includes provisions for tenant protections within these units.
PROVISION 04
Eliminates the deadline by which participating jurisdictions must commit their HOME funds to specific projects.
This provides local governments with greater flexibility and more time to plan and execute affordable housing initiatives, reducing pressure and potential for funds to be unused.
PROVISION 05
Establishes a new home loan guarantee program.
This could expand access to financing for affordable housing projects, potentially leveraging private capital to increase housing supply.
Voters should care about this bill because it addresses the ongoing challenge of housing affordability across the country. By reauthorizing and increasing funding for the HOME program, it aims to boost the supply of affordable housing, which can help reduce homelessness, stabilize communities, and provide economic opportunities for low-income families. The changes to administrative resources and flexibility could mean that local governments are better equipped to respond to their unique housing needs, potentially leading to more effective use of federal dollars.
If this bill becomes law, communities could see more affordable homes built or renovated, and local agencies might have an easier time managing complex housing projects. If it doesn't pass, funding for a crucial affordable housing program could lapse or stagnate, potentially worsening housing shortages and making it harder for communities to assist their residents with housing needs. The bill's focus on small-scale housing could also encourage more diverse housing options in neighborhoods.
KEY PROVISIONS
AI-extracted
high
Reauthorizes the HOME Investment Partnerships Program with increasing funding for fiscal years 2025-2029.
This ensures continued federal support for affordable housing development and preservation across the nation, providing a stable funding source for communities.
high
Increases the amount of program funds that local governments can use for administrative activities from 10% to 15%.
This provides local housing agencies with more resources to manage complex projects, cover staffing costs, and ensure compliance, improving overall program efficiency.
med
Defines "small-scale housing" as housing with not more than 4 rental units and establishes alternative requirements for these units to qualify as affordable housing.
This encourages the development of smaller, potentially less complex affordable housing projects and includes provisions for tenant protections within these units.
med
Eliminates the deadline by which participating jurisdictions must commit their HOME funds to specific projects.
This provides local governments with greater flexibility and more time to plan and execute affordable housing initiatives, reducing pressure and potential for funds to be unused.
high
Establishes a new home loan guarantee program.
This could expand access to financing for affordable housing projects, potentially leveraging private capital to increase housing supply.
A federal program administered by the U.S. Department of Housing and Urban Development (HUD) that provides funds to state and local governments to create affordable housing for low-income households.
Participating Jurisdiction
A state or local government entity that receives federal funds directly from the HOME program to carry out affordable housing activities within its area.
Reallocation
The process by which HOME program funds that were not used or committed by one jurisdiction are taken back by HUD and redistributed to other eligible jurisdictions.
Affordable Housing
Housing, either rental or ownership, that is considered affordable for households with low incomes, typically meaning they spend no more than 30% of their income on housing costs.
Small-scale housing
Residential housing properties with a limited number of rental units, specifically defined in this bill as having no more than four rental units.
Community Housing Development Organization (CHDO)
A specific type of non-profit organization designated by HUD that is involved in developing and managing affordable housing projects, and which receives a portion of HOME funds.
ACTION TIMELINE
2 EVENTS
MAR 11, 25
Introduced in Senate
INTROREFERRAL
MAR 11, 25
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
A previous requirement for participating jurisdictions to formally dedicate their HOME program funds to specific projects within a certain timeframe, which this bill proposes to eliminate.
Loan Guarantee Program
A program where the government pledges to repay a loan if the borrower defaults, thereby making it easier for borrowers to obtain loans for specific purposes, such as affordable housing.
