S. 5553 would increase each state's housing bond limit by 30% for calendar years after 2025. The added bond amount would be reserved for rental housing projects near certain public transportation stops. Projects would have to meet income and rent limits, including requirements for units serving lower-income residents. The bill would also increase the eligible basis for certain housing tax credits to 150%, or 200% if construction workers are paid at least the local prevailing wage. It would appropriate $30 billion per year to the Housing Trust Fund for fiscal years 2026 through 2035 and give priority to projects near transit hubs. The bill was introduced and referred to the Senate Finance Committee.
Eligible rental housing projects near transit hubs could qualify for additional bond financing and larger housing tax credit calculations. Housing Trust Fund allocations would also prioritize projects near transit hubs. The bill does not guarantee that a particular project would receive funding or that rents would change.
The bill would appropriate $30 billion each year for fiscal years 2026 through 2035 from Treasury amounts not otherwise appropriated. It also proposes changes to housing bond limits and tax credit calculations; the text does not provide an estimate of their total cost.
No publicly available information.
No publicly available information.