Lets communities get more funding to fix up and build affordable rental homes.
This bill would make it easier for state and local governments to get special tax-exempt bonds to pay for preserving, improving, or replacing older low-income apartments. This means more money could go towards these projects, helping residents get better living conditions. These changes would take effect for bonds issued after the bill becomes law.
Today, state and local governments face yearly limits on tax-exempt bonds, which can restrict funding for affordable rental housing. If this bill passes, these governments could choose to issue certain bonds for qualified rental housing projects without those limits, making more money available for housing improvements and construction. It would also allow up to 50% of these bond funds to be used for acquiring existing properties for rehabilitation, compared to the current 15%.
HR 9906 · 119th Congress · July 23, 2026 · AI Summary by gemini-2.5-flash · 8/10
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