The House Committee on Financial Services will hold a hearing today at 10 a.m. featuring HUD Secretary Scott Turner on the Oversight of the Department of Housing and Urban Development and the Federal Housing Administration.
The hearing noticed 11 legislative proposals, of interest to NH&RA members are:
- H.R. 5591, the Revitalizing Empty Structures Into Desirable Environments (RESIDE) Act, which creates a Blighted Building to Housing Conversion Program Pilot Program in the HOME Program.
- This legislation is included in Section 212 of the Senate’s ROAD to Housing Act.
- H.R. 6363, the Build Now Act of 2025, which ties some localities’ Community Development Block Grant (CDBG) funding to their housing production, including bonuses for accelerated homebuilding and small funding reductions for lagging grantees.
- This legislation is included in Section 206 of the Senate’s ROAD to Housing Act.
- H.R. 7056, the Community Bank Regulatory Tailoring Act, which raises the threshold for certain obligations in the Community Reinvestment Act of 1977 from $250M to $800M.
- The bill also mandates periodic adjustments to these thresholds every five years, based on the changes in current-dollar United States GDP, ensuring that the regulatory limits keep pace with economic growth. The first adjustment will occur on April 1, 2031.
