# 119-s-948: HOME Investment Partnerships Reauthorization and Improvement Act of 2025 119-s-948, HOME Investment Partnerships Reauthorization and Improvement Act of 2025, is a 119th Congress bill sponsored by Sen. Cortez Masto, Catherine [D-NV] (D-NV); status introduced; PRIA reads it as touching household money (as of 2026-04-21). - Canonical: https://policyrisk.com/legislation/119-s-948 - As of: 2026-04-21 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: 119-s-948 - Congress: 119 - Title: HOME Investment Partnerships Reauthorization and Improvement Act of 2025 - Status: introduced - Introduced: 2025-03-11 - Sponsor: Sen. Cortez Masto, Catherine [D-NV] (D-NV) - Cosponsors: 12 - Policy area: Housing and Community Development - Touches household money: yes - Last recorded action: 2026-04-21 ## Summary **This bill would reauthorize and reform the HOME Investment Partnerships Program and create a statutory Home Loan Guarantee to expand tools for producing and preserving affordable housing.** It would set specific FY2025–FY2029 funding levels, add a new small‑scale housing pathway, tighten inspections and enforcement, and change rules for community land trusts and CHDOs. - Families and tenants: Small‑scale housing of up to four rental units would become eligible under an alternative pathway, require rents that meet affordability rules, and gain specific tenant protections and monitoring. - State and local housing agencies and administrators: The bill would authorize funding starting at $5.0 billion for FY2025 and increase through FY2029, and it raises the program administration cap to allow up to 15% of HOME funds for administration. It also narrows CHDO set‑asides so funds are reserved only when a CHDO materially participates and recaptures unused set‑aside funds after 24 months. - Developers and borrowers: Adds a Home Loan Guarantee facility with an initial $2.0 billion principal authority and an aggregate outstanding cap of $4.5 billion. Guarantees carry full faith and credit, must charge borrower fees to offset subsidy costs, and allow the Secretary to require repayment pledges and other security. ## Cosponsors (12) - Sen. Smith, Tina [D-MN] (D-MN), 2025-03-11T00:00:00.000Z - Sen. Van Hollen, Chris [D-MD] (D-MD), 2025-03-11T00:00:00.000Z - Sen. Alsobrooks, Angela D. [D-MD] (D-MD), 2025-03-11T00:00:00.000Z - Sen. Bennet, Michael F. [D-CO] (D-CO), 2025-03-11T00:00:00.000Z - Sen. Rosen, Jacky [D-NV] (D-NV), 2025-03-11T00:00:00.000Z - Sen. Fetterman, John [D-PA] (D-PA), 2025-03-11T00:00:00.000Z - Sen. Luján, Ben Ray [D-NM] (D-NM), 2025-03-13T00:00:00.000Z - Sen. Welch, Peter [D-VT] (D-VT), 2025-03-25T00:00:00.000Z - Sen. Gallego, Ruben [D-AZ] (D-AZ), 2025-04-01T00:00:00.000Z - Sen. Warner, Mark R. [D-VA] (D-VA), 2025-07-28T00:00:00.000Z - Sen. Heinrich, Martin [D-NM] (D-NM), 2025-11-20T00:00:00.000Z - Sen. Ossoff, Jon [D-GA] (D-GA), 2026-03-09T00:00:00.000Z ## Provisions PRIA read - Small rental rules and inspections: benefit, medium. If enacted, the bill would create a "small‑scale housing" pathway for rental buildings with four or fewer units. Small owners could qualify their properties if rents meet HOME rules and each unit houses a low‑income family, and owners could not refuse tenants because they hold Section 8 vouchers. T… - Bigger HOME funding and admin: mixed, high. If enacted, the bill would authorize new multi-year HOME funding: $5.0 billion for FY2025, rising to about $6.08 billion in FY2029. These are authorization levels and still need annual appropriations. The bill would also let jurisdictions use up to 15% of HOME funds for administration, up from 10%.… - New HOME loan guarantee program: mixed, medium. If enacted, HUD could guarantee local notes and bonds to finance acquisition, construction, or rehabilitation of affordable housing. The Secretary could commit up to $2.0 billion in aggregate principal for FY2025 (adjusted for inflation later), and outstanding guarantees could not exceed the greate… - New resale, CLT, and waiver rules: mixed, medium. If enacted, the bill would let jurisdictions choose resale price formulas that limit owner gains or use recapture of HOME funds when a HOME‑assisted owner sells. It would revise the community land trust (CLT) definition to require nonprofit or public entities and at least 30 years of affordability,… - New rules for local HOME grants: mixed, medium. If enacted, the bill would change several local HOME rules. The Secretary would index participating‑jurisdiction eligibility thresholds for inflation after FY2025 and raise certain dollar thresholds from $500,000 to $750,000. CHDO set‑asides would apply only when a CHDO materially participates, and… ## Related bills - 119-s-3990: PrEP Access and Coverage Act of 2026 - 119-s-5108: Right to IVF Act of 2026 - 119-s-1503: Equality Act - 119-s-2150: Women’s Health Protection Act of 2025 - 119-s-422: Right to Contraception Act - 119-s-2523: John R. Lewis Voting Rights Advancement Act of 2025 ## Sources - [119-s-948 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/948) ## Related - [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990) - [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108) - [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503) - [119-s-2150: Women’s Health Protection Act of 2025](https://policyrisk.com/legislation/119-s-2150) - [119-s-422: Right to Contraception Act](https://policyrisk.com/legislation/119-s-422) - [119-s-2523: John R. Lewis Voting Rights Advancement Act of 2025](https://policyrisk.com/legislation/119-s-2523) - [All bills in Congress](https://policyrisk.com/legislation) Source: PRIA, https://policyrisk.com/legislation/119-s-948 (as of 2026-04-21).