US HB6644

Summary of HB6644: 21st Century ROAD to Housing Act

• Permanently authorizes the Rental Assistance Demonstration (RAD) Program (previously set to expire September 30, 2029) and requires annual assessments of conversion impacts on public housing preservation, private sector leveraging, and tenant rights

• Creates the Whole-Home Repairs Program providing grants and forgivable loans for home modifications, repairs, and accessibility improvements for homeowners earning at or below 80% of area median income, with loans forgiven after 3 years of landlord compliance

• Establishes the PRICE Act competitive grant program for manufactured housing communities to fund infrastructure improvements, housing reconstruction, and resident services, prioritizing long-term affordability for households up to 120% of area median income

• Reforms housing counseling programs by requiring geographic diversity in grant distribution, mandating performance reviews of counseling agencies, and establishing counselor certification actions including probationary periods, retesting, and permanent suspension after 2+ failed retesting opportunities

• Increases small dollar mortgage availability by directing CFPB to study and potentially regulate loan originator compensation practices and points/fees thresholds for mortgages under $100,000 to ensure comparable compensation for small dollar loan originators

• Expands appraiser flexibility by allowing appraisers licensed in one state to conduct FHA appraisals nationwide, adds VA, USDA, and HUD to the Appraisal Subcommittee, and authorizes grants for appraiser workforce recruitment and training

• Creates the Escrow Expansion Pilot Program allowing up to 25 entities to manage interest-bearing escrow accounts for up to 5,000 families receiving Section 8 or 9 assistance, with withdrawals permitted 5-7 years after establishment

• Reforms HOME Investment Partnerships Program by increasing minimum allocation threshold from $500,000 to $750,000, strengthening enforcement penalties, and establishing a 30-year minimum affordability period for community land trust housing

• Establishes the Rural Housing Preservation and Revitalization Program for USDA multifamily properties, authorizing 20-year rental assistance contract renewals, loan restructuring options, and requiring tenant notification 2 years before loan maturity

• Allows priority consideration for Opportunity Zone projects in competitive HUD housing grants and authorizes technical assistance grants to nonprofits and public housing authorities to facilitate affordable housing preservation