Build HUBS Act
Sponsored By: Representative Friedman
Introduced
Summary
Expands federal credit and lending tools for transit-oriented development and attainable housing near transit. This bill would change TIFIA and RRIF rules to let those loan and credit programs back mixed-use and housing projects within a half mile of transit, create delegated origination and underwriting paths modeled on HUD processes, and set special credit and pricing rules for projects that reserve units for lower-income households.
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Bill Overview
Analyzed Economic Effects
7 provisions identified: 4 benefits, 1 costs, 2 mixed.
New delegated lenders and underwriting
If enacted, the Department of Transportation would have to set up delegated origination programs for TIFIA and RRIF transit projects. If enacted, approved originator-servicers could originate, underwrite, and service loans for the life of the loan and certify creditworthiness so an investment-grade rating would not always be required. If enacted, the Secretary would publish underwriting guidance and enter an interagency agreement with HUD, and must issue delegated-program regulations within 180 days of enactment.
TIFIA and RRIF authorization extension
If enacted, the bill would extend RRIF and TIFIA program authorizations through fiscal years 2027 through 2031, with the authorization window ending on September 30, 2031. If enacted, project sponsors could seek TIFIA or RRIF credit assistance while these authorizations remain in effect.
Lower-cost loans for near-transit housing
If enacted, an "attainable housing project" would be a transit project that serves households at or below 120% of AMI and has a majority of units affordable to households at or below 80% of AMI. If enacted, loans to qualifying attainable housing projects would be priced at one-half of the Treasury Rate in effect on the loan execution date. If enacted, for attainable housing projects that get TIFIA aid, at least 75% of that federal assistance would have to be used for residential components.
Cap on federal share of loans
If enacted, the bill would limit a secured TIFIA loan for certain transit-oriented development projects to no more than 75% of the project's reasonably anticipated eligible costs. This cap applies when the Secretary finds the project has a significant housing component or involves a partnership with a transit agency, state or local government, or nonprofit financing entity. If enacted, project sponsors would need to supply the remaining financing from other sources.
Faster environmental review near transit
If enacted, some pre-award land purchases for transit and transportation projects would be exempt from NEPA, except for parts of parcels that will be publicly owned for most of the loan term. If enacted, the bill would create categorical NEPA exclusions for converting office to housing within the same footprint and for new or rebuilt commercial buildings on land already disturbed by transportation use. These changes would speed some projects but reduce the extent of environmental review.
Rules for transit projects and planning
If enacted, a transit-oriented development would be a project within half a mile of certain transit stations that includes housing, commercial, or public space and must show it will generate new revenue that exceeds costs. If enacted, project sponsors would have to show their projects fit metropolitan and statewide transportation plans and notify and coordinate with the MPO during planning and entitlement. If enacted, the bill would also say it does not change or override state or local zoning and land-use laws.
Clearer fees for transit loans
If enacted, the Secretary would have to publish a clear, scalable fee schedule for TIFIA secured loans. If enacted, the Secretary would generally be prohibited from charging fees for RRIF direct loans or guarantees except where the statute allows, and would have to publish any RRIF fee rules. These rules aim to make borrowing costs more predictable for loan applicants.
Sponsors & CoSponsors
Sponsor
Friedman
CA • D
Cosponsors
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 1/14/2026
Rep. Garbarino, Andrew R. [R-NY-2]
NY • R
Sponsored 2/4/2026
Roll Call Votes
No roll call votes available for this bill.
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