The Community Parks Revitalization Act authorizes the Department of Housing and Urban Development to establish a competitive grant and loan program helping local governments invest in park improvements, recreation programs for veterans and at-risk youth, and long-term park planning. Eligible applicants are primarily local governments in metropolitan areas (with limited rural participation), and most must provide matching funds of at least 43% from state, private, or in-kind sources, though this requirement can be waived for disadvantaged communities. The bill prioritizes projects serving low-income areas with health and environmental benefits, requires recipients to develop five-year maintenance and recovery plans, and establishes a separate loan program for revenue-generating park infrastructure projects of $20 million or more. The legislation authorizes $50 million annually from 2026 through 2030, with allocations capped at 10% for innovation programs, 3% for planning grants, and 2% for projects in U.S. territories, while loans can cover up to 49% of project costs at Treasury-equivalent interest rates with repayment periods up to 35 years. The Secretary must report to Congress biennially on job creation, project outcomes, and overall program effectiveness.