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119-hr-10534119th CongressWALLET

Affordable Housing Preservation and Protection Act of 2026

Sponsored By: Representative Brown, Shontel M. [D-OH-11]

Introduced

Summary

Use HUD capital to preserve distressed affordable multifamily housing through low-cost, potentially forgivable loans tied to long-term affordability. This bill would create a HUD program to make 1 percent interest loans, modify existing loans, or forgive loans to fund necessary repairs while requiring a 30-year affordable use agreement and generally a 20 percent non-Federal match.

Show full summary
  • Residents and families: Keeps rents affordable at preserved buildings by tying assistance to a 30-year affordability covenant and by encouraging renewal of rental assistance when offered. This aims to reduce displacement at at-risk properties.
  • Owners and developers: Gives owners, sponsors, or HUD-approved purchasers access to capital for major repairs with flexible loan terms, loan modifications, or partial forgiveness to make projects viable. Applicants usually must provide a 20 percent non-Federal contribution but can get exceptions if they cannot secure matching funds.
  • HUD and communities: Authorizes funds as needed and requires resident outreach and timely rehabilitation to stabilize housing stock and extend the life of federally assisted multifamily properties.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Low cost HUD loans to preserve housing

If enacted, HUD would create a capital program to help preserve distressed or at-risk multifamily rental buildings with five or more units that are assisted, insured, or have HUD/state-held loans. HUD would make direct loans at 1% interest with repayment terms matching a required 30-year affordable housing use agreement, and it could modify or forgive loans to keep units affordable. Recipients would generally need to provide at least 20% of improvement costs from non-Federal sources, but HUD could reduce or waive that match if the applicant cannot secure it after commercially reasonable efforts. Program funds would also pay for repairs, loan-modification costs, administration, and resident outreach, and money would be available only as Congress provides appropriations.

Sponsors & CoSponsors

Sponsor

Brown, Shontel M. [D-OH-11]

OH • D

Cosponsors

  • Rep. Gimenez, Carlos A. [R-FL-28]

    FL • R

    Sponsored 9/24/2026

  • Rep. Lawler, Michael [R-NY-17]

    NY • R

    Sponsored 9/24/2026

Roll Call Votes

No roll call votes available for this bill.

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