This bill establishes a new federal grant program through the Department of Housing and Urban Development to help community land trusts and other nonprofit housing organizations convert vacant properties into housing for homeless individuals. The program will run for five fiscal years beginning after the bill's enactment and prioritizes grants to organizations in areas with high homelessness rates, particularly those that provide supportive services like job training and health care, have meaningful community representation including formerly homeless people, and use fair tenant screening practices that reduce barriers to housing. Eligible organizations can use grant funds to cover the costs of acquiring vacant properties, making needed repairs and upgrades, and maintaining the housing once it's converted. The bill requires the HUD Secretary to submit annual reports to Congress on how the funds are being used and the program's effectiveness, though the exact amount of funding is not specified and will be determined through the annual appropriations process.