Vacancy to Value Act of 2026
- Bill Number
- H.R. 9011
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Government Operations and Politics
- Status
- Introduced
- Latest Action
- 2026-05-22: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Oversight and Government Reform, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Last Updated
- 2026-06-24T16:43:06Z
AI-Generated Summary
Purpose This legislation, titled the Vacancy to Value Act of 2026, aims to create mechanisms for transferring underutilized federal real property to non-federal entities for community-focused redevelopment, such as affordable housing and local economic growth.
Key Provisions
- Establishes a 5-year pilot program administered by the General Services Administration (GSA) to sell or transfer qualifying federal properties at or below fair market value.
- Limits eligible uses to redevelopment that benefits the surrounding community, including affordable housing, job creation, and facilities like clinics or schools.
- Requires buyers to submit a redevelopment plan and begin work within 5 years; failure triggers possible property recapture by GSA.
- Creates a competitive grant program run by the Department of Housing and Urban Development (HUD) to fund predevelopment, remediation, construction, and related costs for properties acquired under the pilot.
- Mandates a post-program study and congressional report on outcomes.
- Authorizes necessary appropriations for the grant program without specifying amounts.
Significant Changes to Existing Law The bill introduces new authority allowing GSA to dispose of federal property below fair market value for specific community purposes, departing from standard federal property disposal rules that typically require market-rate sales. It also adds a HUD-administered grant program tied directly to these transfers, expanding federal support for local redevelopment beyond existing housing or economic development statutes.
Potential Impacts
- Government agencies: Increases coordination and workload for GSA (property management and sales) and HUD (grant oversight and administration).
- Citizens and communities: May accelerate reuse of vacant federal sites for affordable housing and local services, particularly in underserved areas, while providing grant funding to offset redevelopment costs.
- No direct effects on international relations are outlined.
Main Stakeholders Affected
- Federal agencies (GSA and HUD).
- Eligible recipients, including state and local governments, Tribal governments, public housing agencies, community land trusts, community development corporations, nonprofits, and public-nonprofit partnerships.
- Communities near underutilized federal properties, especially low-income or historically underserved areas.
Notable Legal, Constitutional, or Political Implications The measure expands executive branch discretion in property disposal while imposing community-benefit conditions and reporting requirements. It includes priority consideration for community-based nonprofits and public entities but does not alter constitutional property powers or create new enforcement mechanisms beyond recapture provisions.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Recent Actions
- 2026-05-22: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Oversight and Government Reform, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-05-22: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Oversight and Government Reform, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-05-22: Referred to the Committee on Transportation and Infrastructure, and in addition to the Committees on Oversight and Government Reform, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-05-22: Introduced in House
- 2026-05-22: Introduced in House
Bill Versions
- Vacancy to Value Act of 2026 — issued 2026-05-22 — PDF (6 pages)