US HB855

Establishes an Office of Housing Innovation within HUD, headed by a new presidentially-appointed Assistant Secretary, with $50 million authorized annually starting in fiscal year 2026

Requires the office to include detailees from the Department of Transportation (2), Environmental Protection Agency (1), and Department of Energy (1) with expertise in transit, infrastructure financing, public health, and energy efficiency

Creates a competitive grant program for local governments in urbanized areas to undertake housing planning and regulatory reforms, with individual grants capped at $2 million and 90% of program funding allocated to this purpose

Authorizes $100 million annually for fiscal years 2026-2032 for three grant programs: local planning grants (90%), research and pilot project grants for partnerships up to $500,000 (5%), and education/outreach grants for academic partnerships up to $200,000 (5%)

Requires GAO to review grant program effectiveness within 3 years and report to the House Financial Services Committee and Senate Banking Committee