Congress·In Committee·S. 948

Sen. Cortez Masto Pushes $5 Billion Plan to Expand Affordable Housing and Loan Guarantees

HOME Investment Partnerships Reauthorization and Improvement Act of 2025

about 1 year ago·View on Congress.gov

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Stalled

No legislative action in over 90 days.

↔Companion bill: House Committee Reviews Bill to Boost HOME Housing Funds to $5B and Tighten Oversight

Legislative Progress

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House

President

Law

Key Points

This bill renews a major federal program that gives money to states and cities to build, buy, or fix up affordable homes. It starts with $5 billion in 2025 and increases the budget every year until it reaches over $6 billion in 2029.
It makes it easier for local communities to fund smaller projects, like buildings with only one to four apartments. This helps create more housing options in neighborhoods where large apartment complexes might not fit.
A new $2 billion loan guarantee program would be created. This acts like a safety net for lenders, making it easier for developers to get the money they need to build or repair affordable rental units and houses.
The bill adds protections for military members and their families. If a service member gets orders to move, they can get a waiver so they don't lose their affordable housing status or face unfair financial penalties.
To keep homes safe, the bill requires local governments to perform on-site inspections. These checks ensure that any housing built with this federal money meets local building codes and stays in good condition for the people living there.
The bill also supports groups called community land trusts that buy land to keep it affordable for decades. This helps make sure that once a home is made affordable with tax dollars, it stays that way for the next family who needs it.

HousingEconomy Finance

Impact Analysis

Personal Impact

Who is affectedScoreImpactCertaintyScopeDurationSentiment

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions

Mar 11, 2025Senate

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

Mar 11, 2025

Introduced in Senate

Related News

2 articles

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Road to Housing Act: Will It Get Us There?

The ROAD to Housing Act of 2025 aims to address the housing shortage by modernizing federal programs. Key provisions include a competitive pilot program within the HOME program providing $1.35 billion to convert vacant buildings into attainable housing and cutting environmental review red tape.

HousingWire·11 months ago

New bill aims give first-time homebuyers an advantage

Senator Catherine Cortez Masto has reintroduced several housing measures in 2025, including efforts to update federal funding formulas and reauthorize the HOME program, as part of a broader push to address the affordability crisis and support first-time homebuyers.