Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
H.R. 8127, the Permanent Housing Affordability Act, creates two complementary programs to increase permanently affordable housing across the United States. The bill establishes a $100 million federal grant program administered through the Treasury Department that provides funding to state agencies and community development financial institutions, which in turn issue low-interest construction loans (capped at 3% interest) to nonprofits and government entities for building or rehabilitating homes under shared equity models, with priority given to high-cost areas and communities facing displacement. Additionally, the bill allows the federal government to transfer surplus federal property to community land trusts and other affordable housing programs at a 75 percent discount, with deed restrictions ensuring the properties remain permanently affordable and revert to the government if they cease serving that purpose. Both programs target low- and moderate-income families earning up to 120 percent of area median income and require annual congressional reporting on outcomes. The legislation is authorized to receive $100 million in appropriations beginning in fiscal year 2027.
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