HR8854Referred to Committee

To establish a pilot program for the Secretary of Housing and Urban Development to evaluate the effectiveness of insuring mortgages made to finance improvements to convert basement spaces into safely habitable dwelling units, and for other purposes.

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-05-15
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Gregory W. Meeks
Gregory W. Meeks
Democrat · NY · Representative
Votes with party: 98.3% (530 recorded votes)

Full profile: /officials/M001137

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Financial Services.

2026-05-15

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

The federal government would test a program to insure mortgages that help homeowners convert their basements into safe, livable apartments or rental units. This pilot program, run by the Department of Housing and Urban Development, would study whether this approach works well and could increase the housing supply by making use of existing basement spaces. Homeowners looking to add rental units or additional living space would be the main beneficiaries of this mortgage insurance option.

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