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S. 4262119th CongressIn committeeLatest action Mar 26, 2026Decoded by AI · checked against the record
Official title: Permanent Housing Affordability Act
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
This bill creates federal loan and grant programs to help nonprofits build homes that stay affordable for buyers with low to moderate incomes.
60-second read · 5 questions answered below
This bill sets up several federal programs to support shared equity homeownership, where nonprofits or government groups limit how much a seller can profit so homes stay affordable over time. It creates a loan fund, a pilot grant program, discounted land transfers from the federal government, and public education efforts about how these models work.
The programs are aimed at nonprofits and similar local organizations that build or sell affordable homes. Homebuyers earning up to 80%, 120%, or in some cases higher percentages of their local median income may be eligible depending on the program and location.
Without these programs, low- and moderate-income buyers may have fewer options to purchase homes at prices they can afford. Shared equity rules also limit future sale profits, which affects how much wealth a homeowner can build over time.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.