Bill · S. 3962· Senate(119-S-3962)
Housing and Economic Development Act
- Introduced
- 3/2/2026
- Last activity
- 3/2/2026 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Maggie Hassan
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
The Housing and Economic Development Act aims to improve how the Department of Housing and Urban Development and the Economic Development Administration work together. The bill requires these agencies to create a memorandum of understanding to increase collaboration on housing and economic development projects. This collaboration includes coordinating timelines, standardizing definitions, and issuing joint guidance. The agencies are also tasked with identifying barriers to coordination and sharing relevant research and market data. Finally, the agencies must submit a joint report to several Congressional committees with recommendations to improve efficiency.
Yes· 3 of 13
Does this make housing cost less?+3
By coordinating HUD and EDA efforts, the bill aims to facilitate more efficient development of housing projects.
Is this likely to create jobs?+2
Improved coordination on economic development projects may indirectly stimulate job creation through more efficient project implementation.
Is this likely to grow the economy?+2
Streamlining economic development and housing projects can foster more efficient local and national economic growth.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Reduced Administrative Burden: The bill seeks to issue joint guidance to reduce duplicative reporting and administrative burdens for applicants and grantees (Section 2, Subsection 1, Part C). This could save time and resources for those applying for funding.
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Improved Clarity for Applicants: By standardizing terminology and establishing clear points of contact, the bill aims to make the application process easier to navigate (Section 2, Subsection 1, Parts B and D).
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Coordinated Timelines: The agencies would work to coordinate timelines for application reviews and award decisions, which could lead to more predictable project schedules (Section 2, Subsection 1, Part A).
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Better Policy Decisions: The requirement to share housing-related research and market data is intended to facilitate evidence-based policymaking (Section 2, Subsection 3).
Potential Negative Impacts for People
- No negative impacts are explicitly mentioned in the text provided.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Economic Growth+2Increases Job Creation+2Improves Fiscal Responsibility+1Improves Small Business Support+1Reduces Government Spending+1
- Demographic And Interest Groups
- Good For Business Owners+1Good For Low Income Households+1Good For Rural Residents+1Good For Urban Residents+1
- Social Issues And Justice
- Improves Affordable Housing+3Reduces Homelessness+1
- Environment Energy And Infrastructure
- Improves Rural Development+1
- Governance And Ideology
- Improves Government Transparency+1
- 3/2/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
David McCormickRepublican · Pennsylvania