Cortez Masto’s HOME Act and PRICE Act Included in Bipartisan 21st Century ROAD to Housing Act
Washington, D.C. – Today, the bipartisan 21st Century ROAD to Housing Act overwhelmingly passed the United States Senate. This landmark package includes the vast majority of both the Senate’s original ROAD to Housing Act which unanimously passed the Senate last year but has not passed the U.S. House of Representatives, and housing provisions from the House’s Housing for the 21st Century Act. This bill will help boost housing supply and bring down costs for American families. The bill now heads to the House for consideration.
The legislation includes provisions from Cortez Masto’s HOME Investment Partnerships Reauthorization and Improvement Act (HOME Act) and the Preservation and Reinvestment Initiative for Community Enhancement (PRICE) Act, which she introduced last year to address the affordable housing crisis in Nevada and across the country.
“The American people have been waiting for far too long for relief in the cost of housing,” said Senator Cortez Masto. “I’m proud to have voted alongside the majority of my colleagues to take the first step in tackling the housing crisis – which includes real commonsense solutions like my HOME Act and PRICE Act. It’s critical that the House pass this bill and send it to President Trump’s desk.”
Cortez Masto’s HOME Act would reauthorize the HOME Investment Partnerships Program (HOME), which is used to finance new construction and home repairs and to fund down payment and rental assistance. Between 1992 and 2024, Nevada has received $264.1 million in HOME funds resulting in $1.5 billion in investments for housing.
Cortez Masto’s PRICE Act would help preserve and revitalize manufactured housing communities by reauthorizing Cortez Masto’s 2022 PRICE competitive grant program, which provides funding for construction of and improvements to manufactured homes and communities. About 18 million Americans live in manufactured homes, and there are 69,366 manufactured homes in Nevada.
The 21st Century ROAD to Housing Act is a comprehensive housing packagethat will take important steps to boost the nation’s housing supply, improve housing affordability, and increase oversight and efficiency of federal regulators and housing programs. This legislation would also:
- Remove regulatory red tape that slows down housing development;
- Help more homeless veterans access VA housing;
- Reform the existing Rural Housing Service to help preserve affordable housing in rural areas;
- Create a pilot program at HUD to offer grants and forgivable loans to homeowners and small landlords to address home repair needs and health hazards.
Read the full bill here.
Senator Cortez Masto has been a leader working to lower housing costs and build more homes. Last year she secured $40 million in investments from the FHLBank of San Francisco to support the single-family bond program in Nevada, and in the past few years she secured more than $15 million from the Bank’s affordable housing fund created for Nevada. She introduced the Affordable Housing Bond Enhancement Act, which would make homeownership more accessible and sustainable for working families. Last Congress, her AACE Act to cut red tape to speed up federal land transactions and lower housing costs was signed into law.
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