Build HUBS Act
Sponsored By: Representative Friedman
Introduced
Summary
Boost federal credit for building housing and development near transit through TIFIA and RRIF. This bill would extend both programs through fiscal years 2027–2031, add clear definitions for transit-oriented development and "attainable housing," and let approved originator-servicers underwrite and service loans under HUD-like procedures.
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- Families and renters: Would target "attainable housing" near transit that serves households up to 120% of area median income, with most units affordable to households at or below 80% of AMI. Attainable housing loans would carry an interest rate equal to one-half of the Treasury rate.
- Local planners and transit riders: Requires coordination with metropolitan planning organizations and evidence of a significant nexus to the MPO transportation improvement program or compatibility with MPO long-range plans to qualify projects.
- Developers and lenders: Creates a delegated origination and underwriting program modeled on HUD’s MAP that lets approved originator-servicers originate, underwrite, and service TOD loans and accept alternative credit tests such as joint liability or an alternative rating for Federal credit instruments of $150 million or less. For TOD with major housing components loans are capped at 75% of eligible project costs.
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 3 benefits, 0 costs, 1 mixed.
TIFIA and RRIF program extension
If enacted, the bill would extend the statutory authorization for both the TIFIA and RRIF programs from the prior 2022–2026 window to fiscal years 2027 through 2031. That change would keep both federal credit programs available for an additional five federal budget years.
New TIFIA lending for transit housing
If enacted, the Transportation Secretary would create a delegated TIFIA program so approved originator-servicers can originate, underwrite, and service loans for transit-oriented development. The Secretary must issue rules within 180 days. Secured loans for projects with a significant housing component or certain public or nonprofit partners would be capped at 75% of expected eligible project costs. If a project meets the bill's "attainable housing" tests, its TIFIA loan interest rate would be one-half of the Treasury Rate on the loan execution date.
More rail loans, new rules
If enacted, the Department would create a delegated RRIF origination program so approved originator-servicers can make and service rail and transportation-oriented development loans. Servicers would need HUD good standing, must agree to service loans for their life, and operate under Secretary oversight. RRIF applicants would have to coordinate with the local MPO and show a link to the TIP/STIP or compatibility with the MPO long-range plan. The bill would allow alternative creditworthiness paths (joint state/local liability, an alternate rating for federal credit instruments $150,000,000 or less, or originator certification), require published underwriting guidance (minimum debt service coverage, loan-to-cost and loan-to-value limits, and distribution covenants), and generally prohibit undisclosed RRIF fees while requiring a clear posted fee schedule. For qualifying attainable housing projects, RRIF loan interest would be one-half of the Treasury Rate. The bill would also narrow NEPA for some pre-award land purchases and add categorical NEPA exclusions for specific rehab or construction activities.
Local zoning laws stay in place
If enacted, the bill would say that nothing in the Act changes, supersedes, or preempts State or local zoning or land use laws. Local land use and zoning authority would remain in place despite the federal program changes.
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Sponsors & CoSponsors
Sponsor
Friedman
CA • D
Cosponsors
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 1/14/2026
Garbarino
NY • R
Sponsored 2/4/2026
Rep. Peters, Scott H. [D-CA-50]
CA • D
Sponsored 2/11/2026
Roll Call Votes
No roll call votes available for this bill.
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