RESIDE Act
Summary
What This Bill Does
Authorizes HUD to use a portion of excess HOME Investment Partnerships Program funding for competitive pilot grants that convert vacant and abandoned commercial or industrial buildings into attainable housing, with priorities, waivers, and reporting requirements.
Who Benefits and How
Participating jurisdictions, housing-conversion projects, and households seeking attainable housing could benefit from new federal funding to repurpose blighted structures into homes.
Who Bears the Burden and How
HUD would need to run the pilot, exercise waiver authority, and report to Congress, while grantees would need to satisfy priority, affordability, and program requirements tied to the HOME framework.
Key Provisions
- Defines key terms including attainable housing, converted housing unit, eligible entity, and vacant and abandoned building.
- Allows HUD to use up to $100,000,000 of HOME funding above $1,350,000,000 in fiscal years 2027 through 2031 for a competitive Blighted Building to Housing Conversion Program.
- Sets grant-size rules, award priorities, permissible uses of funds, and HOME-based affordability requirements for converted units.
- Authorizes certain statutory and regulatory waivers, except for fair housing, nondiscrimination, labor, and environmental rules, and requires a post-program congressional report.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
Authorizes HUD to use a portion of excess HOME Investment Partnerships Program funding for competitive pilot grants that convert vacant and abandoned commercial or industrial buildings into attainable housing, with priorities, waivers, and reporting requirements.
Key Policy Areas
Housing, Community Development, Government Operations
Primary Purpose
Authorizes HUD to use a portion of excess HOME Investment Partnerships Program funding for competitive pilot grants that convert vacant and abandoned commercial or industrial buildings into attainable housing, with priorities, waivers, and reporting requirements.
Policy Domains
Main Provisions
Identified Gains
Contextual inference, no direct clause citation- Participating jurisdictions, housing-conversion projects, and households seeking attainable housing in distressed communities
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- HUD administrators and grantees subject to pilot-program, affordability, and reporting requirements
Contextual inference, no direct clause citation
Sponsors
Legislative Progress
In CommitteeMr. Liccardo (for himself, Ms. Salazar, Mr. Olszewski, and Mr. …
Referred to the House Committee on Financial Services.
Introduced in House
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Participating jurisdictions and housing-conversion projects seeking grant funding to redevelop blighted properties
Households in distressed communities seeking attainable housing created from converted buildings
HUD officials administering the pilot program, waiver decisions, and the required congressional report
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary"
- → Secretary of Housing and Urban Development
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology