arrow_back Civic Audit
Share share

Pilot Program: Insuring Loans for Basement-to-Housing Conversions

This bill establishes a pilot program to help homeowners secure insured loans for converting basements into safe, habitable rental units. The aim is to increase housing availability and utilize existing space. The program will run for 5 years and cover up to 150,000 mortgages.
Key points
Facilitates access to loans for converting basements into rental housing, potentially increasing available rental units.
Provides financial support for renovations and adapting basements to safety and habitability standards.
Prioritizes properties in disaster-prone areas, which could aid in recovery and adaptation after damages.
article Official text account_balance Process page notifications_active Track this Bill
Status: Expired
Civic Will
Checking votes...
I support
I oppose
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.
Additional Information
Print number: 118_HR_10294
Sponsor: Rep. Meeks, Gregory W. [D-NY-5]
Process start date: 2024-12-04
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Habitable Housing Conversion Pilot Program Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10294.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-12-04.

What are the main provisions?

Key points include:

  • Facilitates access to loans for converting basements into rental housing, potentially increasing available rental units.
  • Provides financial support for renovations and adapting basements to safety and habitability standards.
  • Prioritizes properties in disaster-prone areas, which could aid in recovery and adaptation after damages.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Meeks, Gregory W. [D-NY-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Real Estate Public Investments