Bill > S2489

This bill aims to support and advance modular housing production by directing the Secretary of Housing and Urban Development (HUD) to conduct a comprehensive review of Federal Housing Administration (FHA) construction financing programs. Specifically, the bill requires the Secretary to identify regulatory barriers that currently restrict modular home developers' participation in construction financing, and to propose programmatic and policy changes to reduce these barriers. The bill defines key terms like "modular home" (a home constructed in factory modules that meet local building codes and are transported and installed on-site) and mandates that within one year, the Secretary must publish a detailed report on these findings. Additionally, the bill requires HUD to initiate a rulemaking process within 120 days of the report's publication to examine alternative construction loan draw schedules for modular and manufactured home developers, with an opportunity for public comment. The bill also authorizes the Secretary to award a grant to study the development of a standardized uniform commercial code for modular homes, which would aim to improve serialization, design, construction processes, and potentially create new financing incentives. The overall goal is to reduce obstacles to modular housing production and make such housing more accessible and innovative.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/2489/all-info