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US HR855

US HR855
Housing Innovation Act


summary

Introduced
01/31/2025
In Committee
01/31/2025
Crossed Over
Passed
Dead

Introduced Session

119th Congress

Bill Summary

A BILL To establish an Office of Housing Innovation in the Department of Housing and Urban Development to assist in exploring and developing new approaches for increasing and diversifying the supply of housing and for meeting the challenges of housing shortages, housing affordability, and traffic congestion, and for other purposes.

AI Summary

This bill establishes an Office of Housing Innovation within the Department of Housing and Urban Development (HUD) to address housing challenges across the United States. The bill creates a new Assistant Secretary position dedicated to exploring innovative approaches to increasing and diversifying housing supply, particularly in urban and rural regions experiencing housing shortages, affordability issues, and traffic congestion. The Office will be responsible for gathering and sharing information about innovative housing practices, administering grant programs, coordinating with other federal agencies like the Department of Transportation, and providing technical assistance to local governments. The bill includes provisions for three types of grants: local planning grants (up to $2 million per locality) to help communities develop comprehensive housing strategies, research and pilot project grants (up to $500,000 per partnership) to study housing and community development innovations, and educational activity grants (up to $200,000 per partnership) to support academic and community outreach programs related to housing issues. The legislation authorizes $100 million annually from 2026 to 2032, with 90% allocated to local planning grants, 5% to research grants, and 5% to educational grants. Additionally, the bill requires a Government Accountability Office (GAO) review after three years to assess the effectiveness of these grant programs, emphasizing a data-driven approach to addressing national housing challenges.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Referred to the House Committee on Financial Services. (on 01/31/2025)

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