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Pilot Program: Converting Empty Buildings into Affordable Housing

This act establishes a pilot program to convert vacant industrial and commercial buildings into housing. This initiative aims to increase the availability of affordable housing, particularly for lower-income households, and revitalize neglected urban areas. It could improve neighborhood aesthetics and enhance safety.
Key points
Empty warehouses, factories, malls, and hotels can be transformed into housing units.
The program supports the creation of housing affordable for middle and lower-income individuals.
Priority is given to projects in economically distressed areas and qualified opportunity zones.
Funds can be used for property acquisition, demolition, hazard remediation, site preparation, and construction or renovation.
The program seeks to improve local tax bases and increase housing access for the elderly, disabled, and veterans.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2460
Sponsor: Sen. Banks, Jim [R-IN]
Process start date: 2025-07-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RESIDE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2460.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-24.

What are the main provisions?

Key points include:

  • Empty warehouses, factories, malls, and hotels can be transformed into housing units.
  • The program supports the creation of housing affordable for middle and lower-income individuals.
  • Priority is given to projects in economically distressed areas and qualified opportunity zones.
  • Funds can be used for property acquisition, demolition, hazard remediation, site preparation, and construction or renovation.
  • The program seeks to improve local tax bases and increase housing access for the elderly, disabled, and veterans.
What is the specific legal status?

The current status is Introduced.

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 Sen. Banks, Jim [R-IN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

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Real Estate Public Investments