What does Preamble of S 948 do?

This bill is formally titled 'To reauthorize the HOME Investment Partnerships Program, and for other purposes.'

What does SHORT TITLE; TABLE OF CONTENTS. of S 948 do?

This bill is formally titled the HOME Investment Partnerships Reauthorization and Improvement Act of 2025.

What does Short title; table of contents. of S 948 do?

This bill is formally titled PROGRAM.

What does Modifications of participating jurisdiction qualification of S 948 do?

This section addresses modifications to the qualification threshold for participating jurisdictions. It also outlines changes to the process for reallocations.

What does Modification of jurisdictions eligible for reallocations. of S 948 do?

This section modifies the jurisdictions eligible for reallocations.

What does Revisions to strengthen enforcement and penalties for of S 948 do?

This section addresses revisions to strengthen enforcement and penalties for noncompliance.

What does Tenant and participant protections for small-scale affordable of S 948 do?

This section is titled 'Tenant and participant protections for small-scale affordable housing.'

What does Establishment of home loan guarantee program. of S 948 do?

This section establishes a home loan guarantee program.

What does Modification of rules related to community housing of S 948 do?

This section modifies rules related to community housing development organizations.

What does Technical corrections. of S 948 do?

This section is titled 'Technical corrections'.

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HOME Investment Partnerships Reauthorization and Improvement Act of 2025 — S. 948

Last updated: 3/11/2025 · Introduced: 3/11/2025

Author: Catherine Cortez Masto (D-NV)

TL;DR (AI)

This bill reauthorizes and increases funding for the HOME Investment Partnerships Program, providing $5 billion in 2025, rising to $6.08 billion by 2029.
It increases the percentage of HOME funds that participating jurisdictions can use for program administration from 10% to 15%.
The bill modifies eligibility requirements for participating jurisdictions, establishing an inflation-adjusted eligibility threshold and requiring compliance with certain regulations.
It expands the definition of affordable housing to include exceptions for foreclosures and financially unviable housing, and introduces a new category of 'small-scale housing' (up to 4 units) that can qualify.
The bill establishes a Home Loan Guarantee Program, allowing the Secretary to guarantee loans for affordable housing projects up to $2 billion in 2025, with subsequent increases, to facilitate financing.

119th Congressin committeeHR. 2031(In Committee)Official page

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