Build HUBS Act

This bill changes two federal transportation loan programs, TIFIA and the railroad rehabilitation and improvement financing (RRIF) program, so they can more easily finance development within a half mile of transit stations, including housing. It defines "attainable housing projects" by area income limits and sets their loan interest rate at half the Treasury Rate. It lets these projects qualify without an investment-grade credit rating and creates programs where approved private lenders, modeled on a HUD system, originate, underwrite and service the loans. It exempts certain land purchases and office-to-housing conversions from federal environmental review and extends program authorizations through fiscal year 2031.

Full text and official record on Congress.gov

Sponsors

• Lisa Blunt Rochester Democrat sponsor
• 1 cosponsors