Congress·In Committee·S. 3962

Housing and Economic Development: Agency Coordination

Housing and Economic Development Act

Legislative Progress

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House

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This bill requires the Department of Housing and Urban Development and the Economic Development Administration to work together more closely. It aims to help local communities that are trying to build housing and create jobs at the same time using money from both agencies.
Currently, these two agencies often have different deadlines, rules, and paperwork for their grants. This bill would require them to create a formal agreement to match up their timelines and use the same definitions so that local leaders don't have to do the same work twice.
The goal is to make it easier for cities and towns to get projects started by cutting through "red tape." By having clear points of contact at each agency, local officials can get answers faster when they are working on projects that involve both housing and business development.
Within one year, the leaders of both agencies must send a report to Congress. This report will explain what else needs to change—whether through new laws or just better management—to make it even easier for these two parts of the government to collaborate on big construction projects.

2 milestones2 actions

Mar 2, 2026Senate

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Mar 2, 2026

Introduced in Senate

Document Type

Congressional Bill

Official Title

Housing and Economic Development Act

Bill NumberS 3962

Congress119th Congress

ChamberSenate

Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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R: 1

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Official legislative information

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