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S. 3962

BillFederalSenateIn Committee
Housing and Economic Development Act
About This Bill
Committee
Latest Action · March 2, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congress
119th (2025–2027)
Introduced
March 2, 2026
Cosponsors (1)
0D 1R
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Summary

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This bill directs the Department of Housing and Urban Development (HUD) and the Economic Development Administration (EDA), a Commerce Department agency, to work together more effectively on projects that receive funding from both agencies. Specifically, the two agencies must create a formal agreement to coordinate their efforts by aligning application timelines, using consistent language in funding announcements, reducing paperwork for applicants, and designating clear points of contact to answer questions. The bill also requires the agencies to identify obstacles that currently prevent better coordination and to share housing research and data to inform policy decisions. Within one year of enactment, HUD and the EDA must report to Congress with recommendations for additional legislative, regulatory, or administrative changes needed to streamline these joint projects. The legislation aims to reduce confusion and bureaucratic burden for cities and organizations seeking funding for housing and economic development initiatives from both federal agencies.

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