What does Preamble of Housing and Economic Development Act do?

This bill aims to improve interagency coordination between the Department of Housing and Urban Development and the Economic Development Administration.

What does SHORT TITLE. of Housing and Economic Development Act do?

This bill is formally titled the Housing and Economic Development Act.

What does MEMORANDUM OF UNDERSTANDING. of Housing and Economic Development Act do?

This section directs the Secretary of Housing and Urban Development and the Assistant Secretary of Commerce for Economic Development to establish a memorandum of understanding. The memorandum aims to increase collaboration on projects funded by both the Department of Housing and Urban Development and the Economic Development Administration. The memorandum will focus on coordinating application review timelines, standardizing terminology, and reducing reporting burdens. It also establishes points of contact within each agency for resolving questions related to jointly funded projects. The memorandum will identify barriers to coordination and explore future opportunities for joint projects. The agencies will share housing-related research and market data to inform policymaking.

What does INTERAGENCY REPORT. of Housing and Economic Development Act do?

This section requires a report from the Secretary of Housing and Urban Development and the Assistant Secretary of Commerce for Economic Development. The report must be submitted to specified Senate and House committees within one year of the Act's enactment. The report should include recommendations to improve the efficiency of and reduce barriers to collaboration on construction projects. These projects are those jointly funded by the Department of Housing and Urban Development and the Economic Development Administration.

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Housing and Economic Development Act

Last updated: 3/2/2026 · Introduced: 3/2/2026

Author: Maggie Hassan (D-NH)

TL;DR (AI)

This bill requires the Department of Housing and Urban Development and the Economic Development Administration to establish a memorandum of understanding to improve collaboration on jointly funded projects.
The bill mandates a report to Congress with recommendations for improving the efficiency and reducing barriers to collaboration on construction projects funded by both agencies.
The memorandum will focus on coordinating application review timelines, standardizing terminology, and reducing reporting burdens for collaborative projects.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

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