PRICE Act
- Bill Number
- S. 943
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 1
- Policy Area
- Housing and Community Development
- Status
- Introduced
- Latest Action
- 2025-03-11: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Last Updated
- 2026-03-10T11:03:22Z
AI-Generated Summary
Purpose
The PRICE Act aims to preserve and enhance affordable manufactured housing communities by establishing a competitive federal grant program. It focuses on improving living conditions, ensuring long-term affordability for low- and moderate-income residents, and supporting resident ownership or control of these communities.
Key Provisions
- Grant Program Establishment: The U.S. Department of Housing and Urban Development (HUD) Secretary will administer a competitive grant program under a new Section 123 of the Housing and Community Development Act of 1974. Grants will fund development and improvements in eligible manufactured housing communities.
- Definitions:
- Eligible manufactured housing community: A community affordable to households earning up to 120% of the area median income, either resident-owned (e.g., via a cooperative) or committed to remaining affordable long-term.
- Eligible recipients: Includes resident-owned communities, local governments, housing authorities, nonprofits with housing expertise, community development financial institutions, Indian Tribes, states, and certain owner-operators working with communities.
- Manufactured housing community: Developments designed for permanent residential use of manufactured homes, including older homes built before 1976 safety standards.
- Resident health, safety, and accessibility activities: Repairs or upgrades to homes and communities for health protection, energy efficiency (e.g., weatherization), or disability access.
- Eligible Projects: Grants can fund:
- Infrastructure like utilities, facilities, and land improvements.
- Repairs or reconstruction of existing homes.
- Replacement of pre-1976 homes (must meet modern safety standards or Secretary-approved alternatives; no rehab of unsafe old units).
- Planning, site acquisition for expansion, resident services (e.g., eviction prevention, down payment help), and other improvements to living conditions (e.g., community centers).
- Priorities and Flexibility:
- Prioritizes projects benefiting low- and moderate-income residents and preserving affordability.
- Allows HUD Secretary to waive non-essential rules (e.g., excluding fair housing, labor, or environmental protections) to facilitate grants.
- Implementation:
- Selection criteria set by HUD regulations.
- Possible set-aside of funds for Indian Tribes and tribally designated housing entities.
- Funding: Authorizes "such sums as may be necessary" for the program, in addition to existing HUD funds.
Significant Changes to Existing Law
- Amends Section 105(a) of the 1974 Housing Act to reference the new grant program, limiting certain community development activities unless authorized under Section 123.
- Introduces a dedicated grant mechanism for manufactured housing, which was not previously specified in the Act. This adds restrictions on pre-1976 home rehab (requiring replacement instead) to prioritize safety, while expanding eligible uses to include resident services and community enhancements.
Potential Impacts
- On Government Agencies: HUD will gain administrative responsibilities, including rulemaking, grant awards, and waivers, potentially increasing workload but streamlining housing investments. Local governments and tribes may access new federal funds for housing projects.
- On Citizens: Low- and moderate-income residents of manufactured housing communities could benefit from safer, more affordable homes, reduced utility costs, and better amenities, helping prevent displacement. It promotes resident ownership, empowering communities.
- On International Relations: No direct impacts; the bill is focused on domestic housing policy.
Main Stakeholders Affected
- Residents and Households: Primarily low- and moderate-income families in manufactured housing, who gain from improvements in safety, affordability, and services.
- Community Owners and Operators: Resident cooperatives, nonprofits, and owner-operators eligible for grants to maintain or upgrade properties.
- Government Entities: HUD (administration), local governments, housing authorities, states, Indian Tribes, and tribally designated entities (funding recipients).
- Support Organizations: Community development financial institutions and housing nonprofits, which can apply for or partner on grants.
Notable Legal, Constitutional, or Political Implications
- Legal: Expands HUD's waiver authority, which could accelerate projects but risks challenges if waivers undermine protections (e.g., environmental reviews). Ensures compliance with core laws like fair housing and labor standards to avoid discrimination claims.
- Constitutional: Aligns with Congress's spending power under Article I to promote general welfare through housing aid; includes tribal provisions respecting sovereignty under federal Indian law.
- Political: Addresses housing affordability crisis, particularly for vulnerable populations, potentially reducing homelessness and supporting economic stability in rural/suburban areas. Bipartisan sponsorship highlights focus on practical infrastructure, though funding levels depend on future appropriations debates.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Sen. Cortez Masto, Catherine [D-NV]
Cosponsors (8)
Sen. Shaheen, Jeanne [D-NH], Sen. Wyden, Ron [D-OR], Sen. Hickenlooper, John W. [D-CO], Sen. Smith, Tina [D-MN], Sen. Blumenthal, Richard [D-CT], Sen. Warren, Elizabeth [D-MA], Sen. Hassan, Margaret Wood [D-NH], Sen. King, Angus S., Jr. [I-ME]
Recent Actions
- 2025-03-11: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2025-03-11: Introduced in Senate
Bill Versions
- Preservation and Reinvestment Initiative for Community Enhancement Act — issued 2025-03-11 — PDF (9 pages)