Federal bipartisan housing legislation aimed at increasing housing supply

The U.S. House of Representatives introduced a bipartisan bill in December to increase the housing supply. 

The Housing for the 21st Century Act is intended to reduce the cost and complexity of development to foster increased production. The bill includes provisions to simplify federal inspection standards, encourage streamlining of local and state permitting processes, and increase FHA multifamily loan limits.

The legislation is the House counterpart to the Senate’s ROAD to Housing Act, the first bipartisan bill for housing in over a decade. The Senate version was included in the recent defense bill but removed by the House in the final version.

Twelve major housing groups endorsed the act in a letter, saying that it “includes many provisions favorable to our industry.”