Update on 21st Century ROAD to Housing Act from NAA

Late yesterday the Senate overwhelmingly passed (85-5) the 21st Century ROAD to Housing Act after reaching an agreement with House lawmakers on final bill text last week. The bill retains an overwhelming focus on boosting supply and easing longstanding housing affordability challenges and importantly leaves out the damaging seven-year disposition requirement for build-to-rent (BTR) housing. The House is expected to reconsider and vote on the package, making it very likely that a final bill will be sent to the President this week.

Key Takeaways: The bill retains an overwhelming focus on boosting supply and easing longstanding housing affordability challenges. Of note, the package leaves out the damaging seven-year disposition requirement for build-to-rent (BTR) housing.

Supply-focused sections include:

• Key inspections provisions from the Choice in Affordable Housing Act, which would reduce duplicative inspections by allowing one passed inspection to satisfy federal requirements across housing programs;

• The Housing Supply Frameworks Act, which requires HUD to publish best practices and guidelines to assist communities in modernizing local and state zoning frameworks that support the production of adequate housing options at every income level;

• The HOME Investment Partnerships Reauthorization and Reform Act, which would reauthorize and modernize the HOME program to improve administration and support more affordable housing construction;

• The Unlocking Housing Supply Through Streamlined and Modernized Reviews Act, which would streamline National Environmental Protection Act (NEPA) review for small and infill housing projects; and

• The Build Now Act, legislation that creates a pilot program to incentivize housing development of all kinds in certain Community Development Block Grant (CDBG) funded jurisdictions.