Bill
S 948
Reauthorizes the HOME program, boosts funding through 2029, raises admin costs to 15%, expands eligibility and protections for small properties, and tightens reallocations and over
Note on document discrepancies
- Multiple distinct bills share the number “S. 948” in different jurisdictions. The primary federal bill text provided here is a Senate bill introduced March 11, 2025 by Sen. Catherine Cortez Masto that would reauthorize and reform the federal HOME Investment Partnerships (HOME) Program (U.S. Department of Housing and Urban Development). Other metadata in the package (a Massachusetts S.D. 948 concerning an endowment match program, a separate note about parking fines, and various committee referrals to Transportation or Higher Education) refer to different measures and should be treated separately. This summary focuses on the federal HOME reauthorization bill.
Bill basics
- Title: HOME Investment Partnerships Reauthorization and Improvement Act of 2025
- Introduced: March 11, 2025 (read twice; referred to Senate Committee on Banking, Housing, and Urban Affairs)
- Lead sponsor: Sen. Catherine Cortez Masto; cosponsors include M. Warner, M. Bennet, R. Gallego, J. Rosen, C. Van Hollen, P. Welch, A. Alsobrooks, T. Smith, and others. Companion: H.R. 2031.
Purpose and intent
- Reauthorize the HOME Investment Partnerships Program and enact operational and eligibility reforms designed to increase funding, strengthen administration, and modernize program rules to expand and preserve affordable housing.
Key provisions and changes
- Reauthorization and funding (Sec. 101)
- Authorizes appropriations for HOME for FY2025–FY2029:
- FY2025: $5,000,000,000
- FY2026: $5,250,000,000
- FY2027: $5,512,500,000
- FY2028: $5,788,125,000
- FY2029: $6,077,531,250
- Program administration (Sec. 102)
- Raises allowable administrative costs from 10% to 15% of HOME funds for participating jurisdictions.
- Amends certain rules governing recognition of matching contributions and adjusts program reporting/eligibility language (including changes to section 220(b) related to contribution recognition and removal of a prior paragraph).
- Participating jurisdiction qualification and reallocations (Secs. 103–104)
- Modifies the qualification threshold/process for jurisdictions to receive HOME allocations; requires annual inflation adjustments to the threshold after FY2025.
- Clarifies eligibility for reallocations, adds authority to remove jurisdictions that fail to comply with program requirements, and tightens reallocation rules.
- Program administration/rules reforms (Title II; selected)
- Clarifies what qualifies as “affordable housing” (including protections in case of foreclosure and exceptions for properties that become nonviable due to unforeseen events).
- Explicit inclusion and treatment of “small‑scale housing” (defined as ≤4 rental units) and tenant protections.
- Eliminates certain commitment deadline requirements, reforms resale/restriction rules for homeownership units, establishes inspection and enforcement improvements, and strengthens penalties for noncompliance.
- Establishes a home loan guarantee program (details to be implemented by HUD/agency rulemaking).
- Community Housing Development Organizations (Title III)
- Modifies rules to facilitate CHDO and nonprofit participation (details in bill text).
- Technical corrections (Title IV)
- Miscellaneous clarifications and conforming edits to statutory text.
Who is affected
- Primary: HUD; state and local participating jurisdictions that receive HOME formula grants; subrecipients; community housing development organizations (CHDOs); nonprofit developers; owners of HOME-assisted housing; low- and moderate-income tenants and homebuyers.
- Fiscal impact: increases federal funding for HOME and raises permitted administrative spending, affecting federal outlays and state/local program operations.
Procedural/timeline notes
- Introduced and referred to Senate Banking Committee (Mar 11, 2025). Listed hearings and companion drafts appear in later docket entries (e.g., references to S.2702 and scheduled hearings in late 2025), indicating continued committee consideration and potential re-drafting. Companion bill in House: H.R. 2031.
Potential impact (summary)
- Increases federal investment in the HOME program over five years and gives participating jurisdictions more administrative flexibility (higher admin cap). Reforms aim to streamline reallocations, increase enforcement, broaden eligibility for small-scale rental properties, and protect affordable status in specific foreclosure or unforeseen hardship cases. The net effect would likely be expanded capacity for affordable housing production and preservation, with greater federal oversight and updated program mechanics.
If you want, I can:
- Produce a one‑page factsheet for local governments or CHDOs summarizing operational changes; or
- Compare this bill’s funding and rules to current HOME statute and common implementation practices.
Compiled from official sources — confirm details with the bill’s official record.
Sign in to ask a question.
