Shared equity housing research and awareness programs

(a) Housing research (1) In general The Secretary of Housing and Urban Development (in this section referred to as the Secretary), acting through the Office of Policy Development and Research, shall establish a program that conducts, supports, and disseminates research about best practices for community land trusts and other shared equity homeownership models, including best practices regarding ground leases, deed restrictions, or other legal mechanisms for preserving long-term affordability. (2) Awards For States, local governments, Tribal governments, and entities managing shared equity homeownership models, including nonprofit organizations, the Secretary shall provide funding to organizations representing nonprofit shared equity model interests to create or sustain shared equity homeownership models through technical assistance and capacity building. (3) Authorization of appropriations There is authorized to be appropriated to the Secretary such sums as may be necessary to carry out this subsection. (b) Public awareness (1) In general Not later than 1 year after the date of enactment of this Act, the Secretary shall conduct a public awareness campaign to educate the public and the financial sector about the benefits and responsibilities of shared equity homeownership models, including community land trusts, which may include— (A) creating a web page to publicize shared equity homeownership models; (B) disseminating information to housing counseling agencies or other entities to provide information to potential homebuyers; (C) providing information to lenders about the shared equity homeownership model, including standard ground leases and appraisal guidance developed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation; and (D) to the extent possible, work with States, local governments, Tribal governments, and entities managing shared equity homeownership models, including nonprofit organizations, to advance public awareness. (2) Authorization of appropriations There is authorized to be appropriated to the Secretary $3,000,000 for each of fiscal years 2027 through 2029 to carry out this subsection. (c) Outreach (1) In general The Secretary, in consultation and coordination with other appropriate entities, including the Federal Housing Finance Agency, shall carry out an education and outreach campaign to inform and educate consumers, home builders, residential lenders, and other real estate professionals on the availability, benefits, and advantages of community land trusts and other shared equity homeownership models. (2) Authorization of appropriations There is authorized to be appropriated to the Secretary such sums as may be necessary to carry out this subsection. (d) Report Not later than 90 days after the conclusion of each fiscal year in which assistance under this section is made available, the Secretary shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the shared equity housing research and awareness programs described in this section that includes, for the period covered by the report— (1) a description of public awareness and public outreach campaigns conducted by the Secretary; (2) a description of consultation and coordination efforts with the Federal Housing Finance Agency, including a description of Federal Housing Finance Agency activities to improve mortgage lender education and outreach that resulted from consultation and coordination efforts; (3) a description of the research conducted on best practices for community land trusts and other shared equity homeownership models; and (4) the number and location of entities that received technical assistance and capacity building on community land trusts and other shared equity homeownership models.