House BillHR 5591Housing and Community Development
RESIDE Act
INTRO SEP 26· LAST ACTION SEP 26
READING
5MIN
COSPONSORS
4BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8
Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-written
This bill addresses two significant issues: the national housing shortage, particularly for affordable homes, and the problem of blighted commercial properties that sit empty and often become eyesores or safety hazards. If this bill becomes law, it offers a creative approach to increasing housing supply by reusing existing structures rather than relying solely on new construction, which can be more expensive and time-consuming. It could help transform decaying parts of towns into vibrant residential areas, improving community safety and property values.
If the bill does not pass, communities might continue to struggle with a lack of affordable housing and the negative impacts of vacant commercial buildings. There would be no dedicated federal program specifically for converting these blighted structures into attainable housing, leaving local governments to find their own solutions, which may be more challenging without federal grant support. Voters should care because it offers a potential path to more housing options and community renewal without a new, direct appropriation, instead leveraging existing program funds.
KEY PROVISIONS
5AI-extracted
PROVISION 01
Establishes a pilot program (Blighted Building to Housing Conversion Program) to award competitive grants to eligible entities for converting vacant commercial/industrial buildings into attainable housing.
This directly creates a mechanism to address housing shortages and urban blight by repurposing existing structures.
PROVISION 02
Defines 'attainable housing' as units serving households earning up to 100% or 120% of the area median income, with a majority of units being affordable to lower income tiers within those ranges.
This ensures the housing created directly serves the target population struggling with housing affordability.
PROVISION 03
Funds the pilot program using up to $100,000,000 of excess amounts from the HOME Investment Partnerships Program for fiscal years 2027 through 2031, provided HOME program funding exceeds $1,350,000,000.
This outlines the specific, conditional funding source and duration for the program, indicating it's not a new direct appropriation.
PROVISION 04
Prioritizes grants for communities experiencing economic distress, located in qualified opportunity zones, addressing identified housing needs, or having ordinances that reduce regulatory barriers to conversion.
This focuses resources on areas with the greatest need or those actively working to facilitate such projects.
PROVISION 05
Allows grant funds to be used for property acquisition, demolition, health hazard remediation, site preparation, construction, renovation, rehabilitation, or establishing/expanding community land trusts.
This provides flexibility for how communities can utilize the funds to achieve the conversion goals.
This bill addresses two significant issues: the national housing shortage, particularly for affordable homes, and the problem of blighted commercial properties that sit empty and often become eyesores or safety hazards. If this bill becomes law, it offers a creative approach to increasing housing supply by reusing existing structures rather than relying solely on new construction, which can be more expensive and time-consuming. It could help transform decaying parts of towns into vibrant residential areas, improving community safety and property values.
If the bill does not pass, communities might continue to struggle with a lack of affordable housing and the negative impacts of vacant commercial buildings. There would be no dedicated federal program specifically for converting these blighted structures into attainable housing, leaving local governments to find their own solutions, which may be more challenging without federal grant support. Voters should care because it offers a potential path to more housing options and community renewal without a new, direct appropriation, instead leveraging existing program funds.
KEY PROVISIONS
AI-extracted
high
Establishes a pilot program (Blighted Building to Housing Conversion Program) to award competitive grants to eligible entities for converting vacant commercial/industrial buildings into attainable housing.
This directly creates a mechanism to address housing shortages and urban blight by repurposing existing structures.
high
Defines 'attainable housing' as units serving households earning up to 100% or 120% of the area median income, with a majority of units being affordable to lower income tiers within those ranges.
This ensures the housing created directly serves the target population struggling with housing affordability.
med
Funds the pilot program using up to $100,000,000 of excess amounts from the HOME Investment Partnerships Program for fiscal years 2027 through 2031, provided HOME program funding exceeds $1,350,000,000.
This outlines the specific, conditional funding source and duration for the program, indicating it's not a new direct appropriation.
med
Prioritizes grants for communities experiencing economic distress, located in qualified opportunity zones, addressing identified housing needs, or having ordinances that reduce regulatory barriers to conversion.
This focuses resources on areas with the greatest need or those actively working to facilitate such projects.
med
Allows grant funds to be used for property acquisition, demolition, health hazard remediation, site preparation, construction, renovation, rehabilitation, or establishing/expanding community land trusts.
This provides flexibility for how communities can utilize the funds to achieve the conversion goals.
Homes that are affordable for households earning up to 100% or 120% of the average income for their local area, with a majority of those homes being even more affordable for lower-income residents within that range.
Area Median Income (AMI)
The midpoint income for a specific metropolitan area or county, used to determine eligibility for various housing assistance programs.
Eligible Entity / Participating Jurisdiction
A local government, county, or state that receives federal housing funds and is qualified to apply for grants under this program.
HOME Investment Partnerships Program
A federal program that provides grants to states and local governments to create affordable housing for low-income households.
Blighted Building / Vacant and Abandoned Building
An empty commercial or industrial property (like a warehouse, factory, or mall) that has been deemed unsafe by code enforcement and whose owner has not fixed it, or one that is legally considered abandoned.
Qualified Opportunity Zone
An economically distressed community where new investments, under certain conditions, are eligible for preferential tax treatment.
ACTION TIMELINE
2 EVENTS
SEP 26, 25
Introduced in House
INTROREFERRAL
SEP 26, 25
Referred to the House Committee on Financial Services.
A plan developed by local governments describing their community development needs, housing needs, and how they will use federal funds to address them.
Community Land Trust
A non-profit organization that owns land and leases it to homeowners, ensuring the homes remain affordable for future buyers.
