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H.R. 8854119th CongressIn committeeLatest action May 15, 2026Decoded by AI · checked against the record
Official title: Habitable Housing Conversion Pilot Program Act of 2026
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
HR 8854 launches a 5-year HUD pilot backing loans for basement-to-apartment conversions, capped at 150,000 loans.
45-second read · 4 questions answered below
HR 8854 would create a five-year pilot program under HUD allowing homeowners to take out government-backed loans to convert basements into separate rental apartments. The program would be capped at 150,000 loans total. After five years, HUD would be required to report to Congress on the program's results.
Homeowners with unfinished or unused basements who cannot easily qualify for conventional renovation loans are the primary targets of the program. Renters in tight housing markets, local governments, and renovation contractors would also be affected if the program is enacted.
Adding government-backed financing for basement conversions could increase the number of rental units available in areas with housing shortages. The bill also directs HUD to work with FEMA and NOAA to prioritize properties in areas at higher risk from weather or disaster-related hazards, indicating concern about housing supply in disaster-affected communities.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Referred to the House Committee on Financial Services.