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Housing Act becomes law, adding single-family investment limits and zoning aid
The 21st Century Road to Housing Act passed with bipartisan support and takes effect after President Donald Trump delayed signing pending Senate voter ID requirements.
Bisnow reports that the 21st Century Road to Housing Act became law after passage in Congress, bringing new restrictions on investment in single-family homes and incentives for localities to reduce entitlement timelines.
According to Bisnow, the bill passed with bipartisan support from majorities in both chambers, but President Donald Trump did not sign it immediately. Bisnow notes he refused to sign the legislation until the Senate passed new voter ID requirements.
Bisnow’s First Draft Live featured National Multifamily Housing Council President Sharon Wilson Géno discussing what the law could mean for the industry. She described the measure as groundbreaking, calling it the first U.S. housing legislation passed in 30 years.
Even with the law now in place, Wilson Géno said it is not expected to instantly and fundamentally change conditions for millions of Americans, instead creating many smaller solutions that could be meaningful for specific deals. She is scheduled to head to Capitol Hill to discuss next steps.