This bill directs the Secretary of Housing and Urban Development (HUD) to review Federal Housing Administration (FHA) construction financing programs to find barriers to using modular home methods. The review must look at regulatory and program rules that limit modular developers, including construction draw schedules, and consider administrative steps under the National Housing Act. HUD must publish a report within 1 year describing the review and recommending program and policy changes. Within 120 days after the report, HUD must start a rulemaking to examine an alternative draw schedule for modular and manufactured home construction loans and allow public comment. HUD must then issue a final rule or explain why it will not. The bill also allows HUD to award a grant to study a standardized uniform commercial code for modular homes, including a coding system to serialize modules and coordinate codes with financing incentives. The bill authorizes "such funds as may be necessary" for that study.
The bill authorizes "such funds as may be necessary" to carry out the grant for the standardized coding study. No publicly available information on estimated total costs or detailed budget impacts is included in the bill text.
The bill’s text directs HUD to identify and reduce or remove barriers that limit the use of modular home methods in FHA construction financing. It also directs study of a standardized coding system to serialize and secure modules and to explore links between coding and financing incentives. Supporters, as reflected by the bill language, seek to increase program access for modular developers and encourage modular home production and innovation through program and administrative changes.
No publicly available information.