Bill · H.R. 8854· House(119-HR-8854)
Habitable Housing Conversion Pilot Program Act of 2026
- Introduced
- 5/15/2026
- Last activity
- 5/15/2026 — Referred to the House Committee on Financial Services.
- Sponsored by
- Gregory Meeks
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
This bill establishes the "Habitable Housing Conversion Pilot Program Act of 2026." The program directs the Secretary of Housing and Urban Development to carry out a pilot program to insure mortgages. These mortgages are intended to finance improvements for converting basement spaces in owner-occupied properties into safe and habitable dwelling units for rental. The program is set to run for a 5-year period and may insure up to 150,000 mortgages. The Secretary is required to consult with FEMA and NOAA to identify areas prone to hazards. Finally, the Secretary must submit a report to Congress at the end of the 5-year period to assess the program's success and problems.
Yes· 3 of 6
Does this make housing cost less?+6
The bill facilitates the conversion of basement spaces into rental units to increase housing supply.
Would middle-income households be better off under this?+5
Homeowners can utilize mortgage insurance to finance basement conversions into rental income sources.
Would households on low incomes be better off under this?+4
The program aims to increase the availability of rental units which may benefit low-income renters.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Creation of Rental Units: The program allows for the conversion of basement spaces into safe and habitable dwelling units that are available for rental (Section 2(a)).
-
Hazard Preparedness: The Secretary may give priority to insuring mortgages for properties in areas identified as more likely to suffer hazards, based on consultation with FEMA and NOAA (Section 2(c)).
-
Safety Standards: The bill requires that converted units meet all State and local building and safety standards and codes, and comply with Secretary regulations to ensure safety and habitability (Section 2(a) and Section 2(d)).
Potential Negative Impacts for People
- Program Limitations: The pilot program is limited to a 5-year period and can insure no more than 150,000 mortgages (Section 2(b)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Middle Class Households+5Good For Low Income Households+4Good For Urban Residents+3
- Social Issues And Justice
- Improves Affordable Housing+6Improves Poverty Reduction+3
- Environment Energy And Infrastructure
- Improves Disaster Relief And F E M A+2
- 5/15/2026
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Nydia VelázquezDemocrat · New York