H.R. 4660: Unlocking Housing Supply Through Streamlined and Modernized Reviews Act

This bill, titled the Unlocking Housing Supply Through Streamlined and Modernized Reviews Act, aims to modify how certain housing-related activities are reviewed under the National Environmental Policy Act (NEPA) to expedite housing development. It specifically targets inefficiencies in the approval process for housing projects, aiming to reduce delays associated with environmental assessments, particularly for projects that are less likely to harm the environment.

Key Provisions of the Bill

• Definitions: The bill defines an infill project as a development occurring within a municipality on previously disturbed land, which is appropriately serviced by utilities and is surrounded by existing development.
• Streamlining of Reviews: The bill mandates the Secretary of Housing and Urban Development to reclassify various housing-related activities under regulatory frameworks that allow for expedited review processes. This includes:
• Tenant-based rental assistance.
• Supportive services such as healthcare and housing services.
• Operating costs including maintenance and utilities.
• Economic development activities that are not tied to construction.
• Assistance for homebuyers purchasing existing or under-construction homes.
• Pre-development costs associated with affordable housing.
• Emergency assistance for homeowners and renters.
• Activities Subject to Reduced Reviews: The bill outlines specific housing-related activities that could qualify for reduced review standards if they do not significantly impact the environment or exceed the original project scope. These include:
• Acquisition and rehabilitation of public facilities and existing residential buildings.
• Conversion of office buildings into residential housing.
• New construction or development on properties with up to 15 units.
• Buyouts of properties in high-risk environmental areas.
• Reporting Requirements: The Secretary must provide an annual report to Congress for five years after the bill's passage, summarizing the impact on review times and costs in the affordable housing sector, as well as making recommendations for future legislative action.

Impact on Affordable Housing

The primary goal of the bill is to facilitate the development of affordable housing by streamlining the regulatory process, ultimately aiming to increase the availability of housing and reduce associated costs. By classifying more activities under expedited reviews, the bill seeks to reduce bureaucratic delays and promote quicker modifications or additions to housing stock, especially in urban areas.

Implementation Timeline

The bill will become effective once enacted, and its impact assessment will begin two years post-enactment with reports provided annually thereafter.

Relevant Companies

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