[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3962 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 3962

 To improve interagency coordination between the Department of Housing 
and Urban Development and the Economic Development Administration, and 
                          for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 2, 2026

  Ms. Hassan (for herself and Mr. McCormick) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
                       Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To improve interagency coordination between the Department of Housing 
and Urban Development and the Economic Development Administration, 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 ``Housing and Economic Development 
Act''.

SEC. 2. MEMORANDUM OF UNDERSTANDING.

    The Secretary of Housing and Urban Development and the Assistant 
Secretary of Commerce for Economic Development shall establish a 
memorandum of understanding, or other appropriate interagency 
agreement, to--
            (1) increase collaboration related to projects approved by 
        and funded by amounts from both the Department of Housing and 
        Urban Development and the Economic Development Administration 
        to construct housing and implement economic development 
        projects, which, where practicable, may include--
                    (A) coordinating timelines for application review 
                and award decisions;
                    (B) standardizing terminology and definitions used 
                in notices of funding opportunities;
                    (C) issuing joint guidance to reduce any 
                duplicative reporting and administrative burden for 
                applicants and grantees; and
                    (D) establishing clear points of contact at each 
                agency to resolve questions for applicants and grantees 
                regarding jointly funded projects;
            (2) identify barriers preventing the Department of Housing 
        and Urban Development and the Economic Development 
        Administration from further coordination and identify future 
        opportunities to promote jointly funded projects that advance 
        shared goals; and
            (3) share relevant housing-related research and market data 
        that facilitate evidence-based policymaking.

SEC. 3. INTERAGENCY REPORT.

    Not later than 1 year after the date of enactment of this Act, the 
Secretary of Housing and Urban Development and the Assistant Secretary 
of Commerce for Economic Development shall jointly submit to the 
Committee on Banking, Housing, and Urban Affairs and the Committee on 
Commerce, Science, and Transportation of the Senate and the Committee 
on Financial Services and the Committee on Energy and Commerce of the 
House of Representatives a report that includes recommendations for 
legislative, regulatory, or administrative actions to improve the 
efficiency of, and reduce barriers to future collaboration on, 
construction projects jointly funded by amounts from the Department of 
Housing and Urban Development and the Economic Development 
Administration.
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