117 S3237 IS: Build More Housing Near Transit Act of 2021 U.S. Senate 2021-11-18 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II117th CONGRESS1st SessionS. 3237IN THE SENATE OF THE UNITED STATESNovember 18, 2021Mr. Schatz (for himself and Mr. Braun) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsA BILLTo amend title 49, United States Code, to include affordable housing incentives in certain capital investment grants, and for other purposes.

1.

Short title

This Act may be cited as the Build More Housing Near Transit Act of 2021.

2.

Affordable housing incentives in capital investment grants

Section 5309 of title 49, United States Code, is amended— (1)in subsection (g)—(A)in paragraph (2)(B)—(i)in clause (i) by striking ; and and inserting a semicolon; (ii)in clause (ii) by striking the period and inserting ; and; and(iii)by adding at the end the following: (iii)allow a weighting of up to five percentage points greater to the criteria relating to economic development under subsection (d)(2)(A)(iii) or (e)(2)(A)(iv), as applicable, and up to five percentage points lesser to the lowest scoring criteria under either such subsection, if the applicant demonstrates substantial effort to preserve or encourage affordable housing near the project by—(I)conducting a housing feasibility assessment;(II)providing documentation of policies that allow for the approval of multi-family housing, single room occupancy units, and accessory dwelling units without a discretionary review process;(III)providing local capital sources for transit-oriented development; or(IV)other methods to preserve or encourage affordable housing near the project, as determined appropriate by the Secretary.; and(B)by adding at the end the following:(9)

Definition

In this subsection, the term housing feasibility assessment means an analysis of the physical, legal, and financial viability of developing additional housing along a project corridor, including affordable housing.; and(2)in subsection (l), by adding at the end the following:(9)

Inclusion of certain costs

In determining net project costs for purposes of determining the Government share of the cost of a project under this section, a project sponsor may—(A)include costs related to the planning or development of affordable housing located within one-half of a mile of a new defined station funded by amounts made available under section 103 of the Housing and Community Development Act of 1974 (42 U.S.C. 5303) or section 201 of the Public Works and Economic Development Act of 1965 (42 U.S.C. 3141); and(B)count the costs described in subparagraph (A) toward the remainder of the net capital project costs under paragraph (4)..