[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2460 Introduced in Senate (IS)]
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119th CONGRESS
1st Session
S. 2460
To establish a pilot program to convert blighted buildings into
housing.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 24, 2025
Mr. Banks (for himself and Mr. Warner) introduced the following bill;
which was read twice and referred to the Committee on Banking, Housing,
and Urban Affairs
_______________________________________________________________________
A BILL
To establish a pilot program to convert blighted buildings into
housing.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Revitalizing Empty Structures Into
Desirable Environments Act'' or the ``RESIDE Act''.
SEC. 2. BLIGHTED BUILDING TO HOUSING CONVERSION PROGRAM.
(a) Definitions.--In this section:
(1) Attainable housing.--The term ``attainable housing''
means housing that--
(A) serves households earning not more than 100
percent of the area median income, if a majority of the
housing units are affordable to households earning not
more than 80 percent of the area median income; or
(B) serves households earning not more than 120
percent of the area median income, if the majority of
the housing units are affordable to households earning
not more than 60 percent of the area median income.
(2) Converted housing unit.--The term ``converted housing
unit'' means a housing unit that is created using a covered
grant.
(3) Covered grant.--The term ``covered grant'' means a
grant awarded under the Pilot Program.
(4) Eligible entity.--The term ``eligible entity'' means a
participating jurisdiction, as that term is defined in section
104 of the Cranston-Gonzalez National Affordable Housing Act
(42 U.S.C. 12704).
(5) HOME investment partnerships program.--The term ``HOME
Investment Partnerships Program'' means the program under
subtitle A of title II of the Cranston-Gonzalez National
Affordable Housing Act (42 U.S.C. 12741 et seq.).
(6) Pilot program.--The term ``Pilot Program'' means the
Blighted Building to Housing Conversion Program carried out
under subsection (b).
(7) Secretary.--The term ``Secretary'' means the Secretary
of Housing and Urban Development.
(8) Vacant and abandoned building.--The term ``vacant and
abandoned building'' means a property--
(A) that was constructed for use as a warehouse,
factory, mall, strip mall, or hotel, or for another
industrial or commercial use; and
(B)(i) with respect to which--
(I) a code enforcement inspection has
determined that the property is not safe; and
(II) not less than 90 days have elapsed
since the owner was notified of the
deficiencies in the property and the owner has
taken no corrective action; or
(ii) that is subject to a court-ordered
receivership or nuisance abatement related to
abandonment pursuant to State or local law or otherwise
meets the definition of an abandoned property under
State law.
(b) Grant Program.--For each of fiscal years 2027 through 2031, if
the amounts made available to carry out the HOME Investment
Partnerships Program exceed $1,350,000,000, the Secretary may use not
more than $100,000,000 of the excess amounts to carry out a pilot
program, to be known as the ``Blighted Building to Housing Conversion
Program'', under which the Secretary awards grants on a competitive
basis to eligible entities to convert vacant and abandoned buildings
into attainable housing.
(c) Amount of Grant.--
(1) In general.--For any fiscal year for which $100,000,000
is available to carry out the Pilot Program pursuant to
subsection (b), the amount of a covered grant shall be not less
than $1,000,000 and not more than $10,000,000.
(2) Fiscal years with lower funding.--For any fiscal year
for which less than $100,000,000 is available to carry out the
Pilot Program pursuant to subsection (b), the Secretary shall
seek to maximize the number of covered grants awarded.
(d) Relation to HOME Investment Partnerships Program Formula
Allocation.--A covered grant awarded to an eligible entity shall be in
addition to, and shall not affect, the formula allocation for the
eligible entity under the HOME Investment Partnerships Program.
(e) Priority.--In awarding covered grants, the Secretary shall give
priority to an eligible entity that--
(1) will use the covered grant in a community that is
experiencing economic distress;
(2) will use the covered grant in a qualified opportunity
zone (as defined in section 1400Z-1(a) of the Internal Revenue
Code of 1986);
(3) will use the covered grant to construct housing that
will serve a need identified in the comprehensive housing
affordability strategy and community development plan of the
eligible entity under part 91 of title 24, Code of Federal
Regulations, or any successor regulation (commonly referred to
as a ``consolidated plan''); or
(4) has enacted ordinances to reduce regulatory barriers to
conversion of commercial or industrial properties to housing,
which shall not include any alteration of an ordinance that
governs safety and habitability.
(f) Use of Funds.--An eligible entity may use a covered grant for--
(1) property acquisition;
(2) demolition;
(3) health hazard remediation;
(4) site preparation;
(5) construction, renovation, or rehabilitation; or
(6) the establishment, maintenance, or expansion of
community land trusts.
(g) Applicability of HOME Requirements.--The requirements for
rental, sale, and resale of housing under the HOME Investment
Partnerships Program shall apply to rental, sale, and resale of
converting housing units under the Pilot Program.
(h) Waiver Authority.--In administering covered grants, the
Secretary may waive, or specify alternative requirements for, any
statute or regulation that the Secretary administers in connection with
the obligation by the Secretary or the use by eligible entities of
covered grant funds (except for requirements related to fair housing,
nondiscrimination, labor standards, or the environment) if the
Secretary makes a public finding that good cause exists for the waiver
or alternative requirement.
(i) Study; Report.--Not later than 180 days after the termination
of the Pilot Program, the Secretary shall study and submit a report to
Congress on the impact of the Pilot Program on--
(1) improving the tax base of local communities;
(2) increasing access to affordable housing, especially for
elderly individuals, disabled individuals, and veterans;
(3) increasing homeownership; and
(4) removing blight.
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