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S5553119th CongressWALLET

Transit-Oriented Housing Development Act of 2026

Sponsored By: Senator Booker, Cory A. [D-NJ]

Introduced

Summary

Boosts funding and tax incentives for building affordable rental housing next to transit. The bill would push more public money and tax-preferred financing toward transit-oriented developments that meet strict income, rent, and wage rules.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 3 benefits, 0 costs, 0 mixed.

Big Housing Trust Fund boost for transit

This bill would appropriate $30 billion to the National Housing Trust Fund for each fiscal year 2026 through 2035. States would have to give priority to projects located within transit hubs when they distribute amounts allocated under this funding. The bill would also waive a usual deadline that otherwise applies to Trust Fund funds for these transit-hub appropriations. The money would support housing projects, not direct cash payments to households.

Bigger housing tax credit for developers

This bill would raise the tax credit basis used for some low-income rental buildings near transit. For qualifying projects, the eligible basis or qualifying rehab costs would be treated as 150% of the normal basis. If the project pays the local prevailing wage to construction workers, that multiplier would be 200% instead of 150%. The rule would apply to buildings financed by bonds issued after December 31, 2025, and only when at least 25% of the building and land basis is financed by a qualifying housing bond.

More bonds for housing near transit

This bill would raise each State’s private activity bond limit by 30% for calendar years beginning after 2025. Any added bond capacity would be usable only for "qualified housing issues" that put at least 95% of net proceeds into rental projects in transit hubs. Each project would have to house only people with incomes at or below 120% of area median income and set aside units: at least 20% for people at or below 50% AMI and at least 10% for people at or below the higher of the HHS poverty guideline or 30% AMI (with some exceptions for public housing agencies and territories). A transit hub is an area where any point is within one-half mile of a fixed guideway station, intercity bus station or stop, or intercity passenger rail station.

Sponsors & CoSponsors

Sponsor

Booker, Cory A. [D-NJ]

NJ • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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