Us Congress 2023-2024 Regular Session

Us Congress House Bill HB10294

Caption

To establish a pilot program for the Secretary of Housing and Urban Development to evaluate the effectiveness of insuring mortgages made to finance improvements to convert basement spaces into safely habitable dwelling units, and for other purposes.

Impact

This pilot program is set to operate for a duration of five years, with HUD authorized to insure up to 150,000 mortgages. The program aims not only to address the need for more affordable housing options but also to intelligently utilize existing structures by transforming underutilized basement spaces into rental units. By providing insurance, the bill potentially lowers the financial risk for lenders, paving the way for increased investment in such housing improvements.

Summary

HB10294, known as the 'Habitable Housing Conversion Pilot Program Act of 2024', proposes the establishment of a pilot program by the Secretary of Housing and Urban Development (HUD) to evaluate the effectiveness of insuring mortgages aimed at converting basement spaces in owner-occupied properties into safe and habitable dwelling units. The bill emphasizes the importance of ensuring that these conversions adhere to state and local building codes and safety standards, thereby promoting safer living conditions for tenants.

Contention

Notably, the bill includes provisions for consultation with federal agencies like FEMA and NOAA, which could prioritize properties in areas susceptible to environmental hazards, creating an intersection between housing needs and disaster preparedness. However, there may be concerns regarding the impact of these conversions on local infrastructure and resources, as well as questions surrounding the enforcement of safety and building regulations in converted basements. Future discussions could highlight the balance between increasing housing availability and maintaining community standards for health and safety.

Companion Bills

No companion bills found.

Previously Filed As

US HB10475

To direct the Secretary of Housing and Urban Development to establish a grant program to address deed fraud, and for other purposes.

US HB10124

To direct the Secretary of Agriculture to establish and administer a pilot program to provide grants to support Food is Medicine programs, and for other purposes.

US SB5516

A bill to establish a new Housing and Urban Development grant program to provide community land trusts and other community-based housing organizations an incentive to convert vacant housing into readily available housing for unhoused individuals.

US HB10361

To amend the Public Works and Economic Development Act of 1965 to establish the Capacity Building for Business Districts Pilot Program, and for other purposes.

US HB10421

To establish a permanent rural housing preservation and revitalization program, and for other purposes.

US HB10395

To direct the Secretary of Veterans Affairs to establish and carry out a pilot program to furnish a headstone or burial marker to veterans who died on or before November 1, 1990, and for other purposes.

US HB10038

To direct the Secretary of Veterans Affairs to conduct a pilot program on the provision of naloxone to veterans and their caregivers, and for other purposes.

US HB10378

To establish the Critical Mineral Reserve of the United States, and for other purposes.

US SB5537

A bill to require the Under Secretary of Commerce for Intellectual Property and Director of the United States Patent and Trademark Office to establish and carry out a pilot program to expedite the examination of applications for certain patents, and for other purposes.

US SB5515

A bill to amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act to establish a pilot program for the construction of temporary disaster assistance housing, and for other purposes.

Similar Bills

No similar bills found.