Vacancy to Value Act of 2026

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9011 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 9011

To authorize the Administrator of the General Services Administration, 
in coordination with the Secretary of Housing and Urban Development, to 
   establish a pilot program and a grant program administered by the 
 Department of Housing and Urban Development to facilitate the sale or 
  transfer of underutilized Federal property to eligible entities for 
            economic redevelopment, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 22, 2026

   Mr. Bell introduced the following bill; which was referred to the 
Committee on Transportation and Infrastructure, and in addition to the 
Committees on Oversight and Government Reform, and Financial Services, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of 
                        the committee concerned

_______________________________________________________________________

                                 A BILL

 
To authorize the Administrator of the General Services Administration, 
in coordination with the Secretary of Housing and Urban Development, to 
   establish a pilot program and a grant program administered by the 
 Department of Housing and Urban Development to facilitate the sale or 
  transfer of underutilized Federal property to eligible entities for 
            economic redevelopment, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Vacancy to Value Act of 2026''.

SEC. 2. PILOT PROGRAM FOR REDEVELOPMENT OF UNDERUTILIZED FEDERAL 
              PROPERTY.

    (a) In General.--The Administrator of the General Services 
Administration shall establish and implement a pilot program to 
facilitate the sale or transfer of underutilized Federal properties to 
entities and individuals for an eligible purpose described in 
subsection (b) on a pilot basis.
    (b) Eligible Purpose.--An eligible purpose for a property sold or 
transferred under this section shall only be for redevelopment or 
economic development purposes that benefit the surrounding community, 
including affordable housing, job creation, economic growth, and 
community facilities such as clinics, childcare centers, and schools.
    (c) Amount of Sale.--A sale or transfer under this section may be 
for an amount that is less than fair market value of the property being 
sold or transferred.
    (d) Development Requirement.--An entity acquiring property under 
this section shall submit a redevelopment plan including the specified 
use under subsection (b) and begin redevelopment not later than 5 years 
after acquisition.
    (e) Recapture.--If an entity fails to meet the requirements under 
subsection (d), the Administrator may require the return of the 
property or impose other appropriate remedies.
    (f) Priority Consideration.--In carrying out the pilot program 
under this section, the Administrator shall give priority consideration 
to community-based nonprofit organizations and public entities.
    (g) Termination.--The pilot program established under subsection 
(a) shall terminate on the date that is 5 years after the date of 
enactment of this Act.
    (h) Definition of Underutilized Federal Property.--In this section, 
the term ``underutilized Federal property'' means any real property 
owned or controlled by the Federal Government that--
            (1) is not fully occupied or utilized for the purposes of 
        the Federal agency with jurisdiction over the property; or
            (2) has been determined by the Administrator to be excess 
        to the needs of the Federal Government, including property that 
        is vacant, obsolete, or economically inefficient to maintain.

SEC. 3. STUDY AND REPORT.

    (a) Study.--The Administrator of the General Services 
Administration shall conduct a study on the outcomes of the program 
under section 2.
    (b) Report.--Not later than 12 months after the termination of the 
pilot program under section 2(g), the Administrator shall submit to 
Congress a report on the program containing the results of the study 
under subsection (a).

SEC. 4. FEDERAL REDEVELOPMENT GRANT PROGRAM.

    (a) Establishment.--The Secretary of Housing and Urban Development 
shall establish a Federal Redevelopment Grant Program to provide 
competitive grants to eligible entities acquiring property under 
section 2 for redevelopment and community revitalization purposes.
    (b) Eligible Entities.--Entities eligible to receive grants under 
this section shall include--
            (1) units of State or local government;
            (2) Tribal governments;
            (3) public housing agencies;
            (4) community land trusts;
            (5) community development corporations;
            (6) nonprofit organizations; and
            (7) partnerships between public entities and nonprofit 
        organizations.
    (c) Eligible Uses.--Grant funds awarded under this section may be 
used for--
            (1) predevelopment and planning activities;
            (2) environmental remediation and site preparation;
            (3) demolition, rehabilitation, or construction costs;
            (4) infrastructure improvements;
            (5) development of affordable housing;
            (6) development of community facilities, including health 
        clinics, childcare centers, schools, workforce development 
        centers, and community centers; and
            (7) other activities determined appropriate by the 
        Administrator to carry out the purposes of this Act.
    (d) Priority.--In awarding grants under this section, the Secretary 
shall prioritize projects that--
            (1) create or preserve permanently affordable housing;
            (2) benefit low-income or historically underserved 
        communities; and
            (3) are proposed by community-based nonprofit organizations 
        or public entities;
    (e) Community Benefit Requirement.--As a condition of receiving 
grant funds under this section, an eligible entity shall demonstrate 
that the proposed redevelopment project will provide a substantial 
public benefit to the surrounding community.
    (f) Reporting.--Recipients of grants under this section shall 
submit annual reports to the Secretary describing the use of funds, 
redevelopment progress, community impact, and compliance with the 
requirements of this Act.
    (g) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as may be necessary to carry out this section.
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