What does Preamble of Vacancy to Value Act of 2026 do?

This bill authorizes the Administrator of the General Services Administration, in coordination with the Secretary of Housing and Urban Development, to establish a pilot program and a grant program. The grant program would be administered by the Department of Housing and Urban Development. The purpose of the program is to facilitate the sale or transfer of underutilized Federal property to eligible entities for economic redevelopment.

What does SHORT TITLE. of Vacancy to Value Act of 2026 do?

This bill is formally titled the Vacancy to Value Act of 2026.

What does PILOT PROGRAM FOR REDEVELOPMENT OF UNDERUTILIZED FEDERAL of Vacancy to Value Act of 2026 do?

This section establishes a pilot program within the General Services Administration (GSA) to facilitate the sale or transfer of underutilized federal properties. Properties can be sold or transferred for redevelopment or economic development purposes that benefit the surrounding community, including affordable housing, job creation, and community facilities. Sales may occur at less than fair market value. Acquiring entities must submit a redevelopment plan and begin redevelopment within five years. The GSA can require the return of property or impose remedies if redevelopment requirements are not met. Priority consideration will be given to community-based nonprofit organizations and public entities. The pilot program will terminate five years after the Act's enactment. “Underutilized Federal property” is defined as property not fully occupied or deemed excess to the needs of the Federal Government.

What does STUDY AND REPORT. of Vacancy to Value Act of 2026 do?

The Administrator of the General Services Administration is required to conduct a study on the outcomes of the program described in section 2. The Administrator must submit a report to Congress containing the results of the study. The report is due within 12 months after the pilot program under section 2(g) terminates.

What does FEDERAL REDEVELOPMENT GRANT PROGRAM. of Vacancy to Value Act of 2026 do?

This section establishes a Federal Redevelopment Grant Program within the Department of Housing and Urban Development. The program provides competitive grants to eligible entities for property acquisition and redevelopment for community revitalization. Eligible entities include state and local governments, tribal governments, public housing agencies, community land trusts, community development corporations, nonprofit organizations, and partnerships between public entities and nonprofits. Grant funds can be used for predevelopment, environmental remediation, demolition, rehabilitation, construction, infrastructure improvements, affordable housing development, and community facilities. Projects that create or preserve affordable housing, benefit low-income or underserved communities, and are proposed by community-based nonprofits or public entities will be prioritized. Recipients must demonstrate a substantial public benefit to the surrounding community to receive grant funds. Grant recipients are required to submit annual reports detailing fund usage, redevelopment progress, community impact, and compliance. The section authorizes appropriations to carry out the program.

Back to bills

Vacancy to Value Act of 2026

Last updated: 5/22/2026 · Introduced: 5/22/2026

Author: Wesley Bell (D-MO)

TL;DR (AI)

This bill establishes a pilot program at the General Services Administration to sell or transfer underutilized federal properties, potentially at below market value, for redevelopment benefiting surrounding communities.
The bill creates a Federal Redevelopment Grant Program within the Department of Housing and Urban Development, providing funding for property acquisition and revitalization projects prioritizing affordable housing and community benefits.
The General Services Administration will conduct a study and report to Congress on the outcomes of the pilot program, assessing its effectiveness in redeveloping federal properties.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 3 more.

5 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account