The Senate passed H.R. 6644, widely referred to as the “21st Century ROAD to Housing Act,” on March 12, 2026, by an 89–10 vote. The bill is a broad housing policy package that combines housing supply reforms with updates to federal housing finance and program rules. Key provisions aim to expand housing construction by streamlining environmental reviews for Department of Housing and Urban Development (HUD) projects, allowing limited use of Community Development Block Grant (CDBG) funds for new affordable housing construction, and creating competitive grant programs that reward jurisdictions that increase housing supply. The legislation also modernizes several housing programs and financing tools, including FHA multifamily loan limits, appraisal and small-dollar mortgage rules, disaster recovery programs, rural housing assistance, vouchers, and homelessness programs.
To encourage housing production, the bill introduces several new mechanisms and incentives. It authorizes a competitive Innovation Fund (up to $200 million annually from FY2027–FY2031) for jurisdictions demonstrating measurable housing supply growth, and it allows CDBG recipients to allocate up to 20% of funds toward new affordable housing construction. Additional initiatives include grants to adopt pre-approved building designs (“pattern books”) for small multifamily housing and the RESIDE pilot program, which supports converting vacant commercial properties—such as hotels, warehouses, and malls—into housing. These measures are intended to reduce regulatory delays, expand development capacity, and encourage adaptive reuse of underutilized buildings.
The Senate version also includes two politically significant provisions: a temporary restriction on large institutional investors purchasing additional single-family homes, including a seven-year disposal requirement for certain exempted purchases, and a temporary prohibition on the Federal Reserve issuing a central bank digital currency (CBDC). Because the House previously passed a different version of H.R. 6644, lawmakers must now decide whether to accept the Senate amendment or negotiate a compromise. The White House has signaled support for the Senate version and indicated the President would likely sign it, but the investor restrictions and CBDC provision could complicate House approval and shape negotiations over the final bill.
A section-by-section overview summary of the bill was released by the US Senate and can be read by clicking here.
