The Senate version of the 21st Century ROAD to Housing Act now heads to the House for a vote.
The U.S. Senate passed a housing bill that would loosen regulations and expand local control over housing policy, as well as expand financing mechanisms and reduce regulatory barriers to new housing.
According to an article by Michael Casey and Mary Clare Jalonick for The Associated Press, the 21st Century ROAD to Housing Act passed in an 85-5 vote and now heads to the House.
The legislation includes restrictions on institutional investors who own over 350 homes and increased funding for housing grants and adaptive reuse. It would allow banks to invest more in affordable housing, increase the number of units eligible for Section 8 funding and reduce barriers to building manufactured housing.
Read the full story: Senate passes bipartisan housing bill aimed at increasing supply, lowering prices
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