Vacancy to Value Act of 2026

Key Points

• The government owns many buildings that are empty or not being used. This bill lets the agency that manages government buildings sell these properties to local groups for less than they are worth. To get the discount, the buyer must promise to use the land for things like affordable housing, schools, or childcare centers.
• To help with the high costs of fixing up old buildings, the Department of Housing and Urban Development would give out special grants. These grants can pay for planning, cleaning up pollution, tearing down old structures, or building new homes and clinics.
• Local governments, non-profits, and tribal groups get first priority when the government decides who can buy the land. They must start their projects within five years or the government can take the property back. This rule ensures that the buildings actually get used instead of sitting empty for another decade.
• The goal is to help low-income neighborhoods by creating jobs and providing services like health clinics. This program would run for five years as a test to see if it helps communities grow before Congress decides whether to make it permanent.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.