Bill > HR3459

This bill allows federal transportation agencies to transfer unused real property (land) to local governments, nonprofit organizations, or other qualified third-party entities for developing transit-oriented housing, with specific affordability requirements. Under the proposed law, if a transportation agency determines that a piece of land acquired with federal assistance is no longer needed for its original purpose, the Secretary of Transportation can authorize its transfer to an entity that will develop housing near public transit. The transfer comes with mandatory conditions: the recipient must reserve at least 40% of the housing units for families earning 60% or less of the area median income, with rent not exceeding 30% of the family's adjusted income. Furthermore, of those 40% reserved units, at least 20% must be dedicated to families earning 30% or less of the area median income. These requirements would remain in effect for 30 years after the property transfer, ensuring long-term affordability and helping to address housing accessibility challenges in areas with public transportation infrastructure.

Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/house-bill/3459/all-info