Bill Summary
The "Unlocking Affordable Housing Act" is proposed legislation aimed at enhancing the eligibility criteria for obtaining federal funding through the Transportation Infrastructure Finance and Innovation Act (TIFIA) and the Railroad Rehabilitation and Improvement Financing (RRIF) programs for residential and mixed-use development projects.
Key provisions of the bill include:
1. **Creditworthiness Standards**: It mandates the Secretary of Transportation to establish specific creditworthiness standards for projects that include residential components. These standards are intended to protect the financial stability of the TIFIA program and align with similar requirements from the Department of Housing and Urban Development (HUD).
2. **Amendments to Existing Laws**: The bill amends sections of titles 23 and 49 of the United States Code to include provisions for evaluating the financial health of projects seeking TIFIA and RRIF funds, particularly those with residential elements.
3. **Regulation Development**: The Secretary of Transportation, in consultation with HUD, is required to issue regulations within 180 days of the bill's enactment to implement these new creditworthiness standards.
4. **Effective Date**: The changes will take effect 180 days after the legislation is enacted, applying to any loans or lines of credit issued under the TIFIA and RRIF programs thereafter.
Overall, this legislation seeks to facilitate access to federal funding for affordable housing projects, thereby addressing housing shortages and promoting mixed-use developments that can contribute to community growth and revitalization.
Possible Impacts
The "Unlocking Affordable Housing Act" could affect people in several ways, including:
1. **Increased Access to Affordable Housing:**
By establishing creditworthiness standards for residential and mixed-use development projects to qualify for TIFIA and RRIF funds, the Act may encourage more developers to pursue affordable housing projects. This could lead to an increase in the availability of affordable housing units, making it easier for individuals and families to find homes that fit their budgets.
2. **Enhanced Financial Stability of Development Projects:**
The Act aims to safeguard the financial stability of the TIFIA program by aligning creditworthiness standards with those from the Department of Housing and Urban Development. This could result in more financially sound development projects, reducing the risk of project failures that could displace residents or lead to abandoned properties, thereby improving community stability.
3. **Potential Impact on Housing Quality:**
By requiring that residential projects meet certain creditworthiness standards, the legislation may indirectly encourage developers to focus on quality and sustainability in their projects. This could lead to better living conditions for residents, as projects that secure funding are likely to be more thoroughly planned and executed, which benefits both the community and the environment.
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6228 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 6228
To amend titles 23 and 49, United States Code, to direct the Secretary
of Transportation to establish creditworthiness standards for
residential and mix-use development projects to be eligible for TIFIA
funds and RRIF funds, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
November 20, 2025
Ms. Scholten (for herself, Mr. Bresnahan, and Ms. McBride) introduced
the following bill; which was referred to the Committee on
Transportation and Infrastructure
_______________________________________________________________________
A BILL
To amend titles 23 and 49, United States Code, to direct the Secretary
of Transportation to establish creditworthiness standards for
residential and mix-use development projects to be eligible for TIFIA
funds and RRIF funds, and for other purposes.
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 ``Unlocking Affordable Housing Act''.
SEC. 2. CREDITWORTHINESS OF RESIDENTIAL AND MIXED-USE DEVELOPMENT
ACTIVITIES FOR PURPOSES OF ELIGIBILITY FOR TIFIA AND RRIF
FUNDS.
(a) TIFIA Creditworthiness of Residential and Mixed-Use Development
Activities.--
(1) In general.--Section 602(a)(2) of title 23, United
States Code, is amended--
(A) in subparagraph (A) by striking ``To be
eligible'' and inserting ``Except as provided in
subparagraph (C), to be eligible'';
(B) in subparagraph (B), by striking
``Notwithstanding subparagraph (A)'' and inserting
``Except as provided in subparagraph (C),
notwithstanding subparagraph (A)''; and
(C) by adding at the end the following new
subparagraph:
``(C) Residential development activities.--To be
eligible for assistance under the TIFIA program, a
project described in section 601(a)(12)(E) that
includes residential development activities (which may
include mixed-use development activities) shall satisfy
such creditworthiness standards as the Secretary, in
consultation with the Secretary of Housing and Urban
Development, determines to be appropriate to--
``(i) safeguard the financial stability of
the TIFIA program; and
``(ii) align, to the extent practicable,
such creditworthiness standards with any
similar requirements established by the
Secretary of Housing and Urban Development with
respect to eligibility for assistance for such
activities under programs of the Department of
Housing and Urban Development.''.
(2) Conforming amendments.--
(A) TIFIA definitions.--Section 601(a) of title 23,
United States Code, is amended--
(i) in paragraph (6)(D) by striking ``TIFIA
program'' and inserting ``TIFIA program
applicable to the project'';
(ii) in paragraph (10)(D) by striking
``agreement, including'' and inserting
``agreement, including, if applicable''; and
(iii) in paragraph (12)(E)(ii) by striking
``, by not later than September 30, 2026,''.
(B) Rating letter requirements.--
(i) In general.--Section 602(b)(3) of title
23, United States Code, is amended by striking
``each project applicant'' and inserting ``each
applicant for TIFIA assistance for a project
for which an investment-grade rating is
required under subsection (a)(2)''.
(ii) Secured loans requirements.--Section
603(a)(3) of title 23, United States Code, is
amended by striking ``each rating letter'' and
inserting ``any rating letters''.
(iii) Lines of credit requirements.--
Section 604(a) of title 23, United States Code,
is amended--
(I) in paragraph (3)--
(aa) by striking ``section
602(b)(3)'' and inserting
``section 602(b)(3), if any'';
and
(bb) by striking ``the
rating opinion letter'' and
inserting ``any such rating
opinion letters''; and
(II) in paragraph (4) to read as
follows:
``(4) Creditworthiness of senior obligations.--
``(A) Investment-grade rating requirement.--Except
as provided in subparagraph (B), the funding of a line
of credit under this section shall be contingent on the
senior obligations of the project receiving an
investment-grade rating from 2 rating agencies.
``(B) Requirements for residential development
activities.--The funding of a line of credit under this
section for a project described in section
601(a)(12)(E) that includes residential development
activities (which may include mixed-use development
activities) shall be contingent on such evidence of
creditworthiness of the senior obligations of the
project as the Secretary, in consultation with the
Secretary of Housing and Urban Development, determines
appropriate to--
``(i) safeguard the financial stability of
the TIFIA program; and
``(ii) align, to the extent practicable,
requirements relating to such evidence of
creditworthiness with any similar requirements
established by the Secretary of Housing and
Urban Development with respect to assistance
for such activities under programs of the
Department of Housing and Urban Development.''.
(b) RRIF Creditworthiness of Residential and Mixed-Use Development
Activities.--Section 22402(f)(3) of title 49, United States Code, is
amended--
(1) in subparagraph (C) by striking ``guarantee is
greater'' and inserting ``guarantee for any project other than
a project described in subsection (b)(1)(F) that includes
residential development (which may include mixed-use
development) is greater''; and
(2) by adding at the end the following new subparagraph:
``(E) With respect to any project described in
subsection (b)(1)(F) that includes residential
development (which may include mixed-use development),
such evidence of creditworthiness as the Secretary, in
consultation with the Secretary of Housing and Urban
Development, determines to be appropriate--
``(i) to align, to the extent practicable,
such creditworthiness standards with any
similar requirements established by the
Secretary of Housing and Urban Development with
respect to eligibility for assistance for such
activities under programs of the Department of
Housing and Urban Development; and
``(ii) to safeguard the financial stability
of the program under this chapter.''.
(c) Regulations.--Not later than 180 days after the date of
enactment of this section, the Secretary of Transportation, in
consultation with the Secretary of Housing and Urban Development, shall
prescribe regulations to carry out--
(1) sections 602(a)(2)(C) and 604(a)(4)(B) of title 23,
United States Code, as added by this section; and
(2) section 22402(f)(3)(E) of title 49, United States Code,
as added by this section.
(d) Effective Date; Applicability.--The amendments made by
subsections (a) and (b) shall take effect on the date that is 180 days
after the date of enactment of this section and shall apply with
respect to any loan or line of credit issued under the TIFIA program or
chapter 224 of title 49, United States Code, on or after such date.
(e) TIFIA Program Defined.--The term ``TIFIA program'' shall have
the meaning given such term in section 601(a) of title 23, United
States Code.
<all>