Palmetto Plain

Federal · H.R. 6644, Public Law 119-101

ROAD to Housing Act: limits on big investors buying single-family homes, HOME and CDBG changes, and a pause on a Fed digital dollar

Became law July 11, 2026

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The short version

  • This broad housing law became law July 11, 2026 without the President's signature. The House passed the final version 358-32 and the Senate 85-5.
  • Starting 180 days after enactment, for-profit "large institutional investors" with investment control of 350 or more single-family homes generally may not buy more. There are exceptions, including build-to-rent and foreclosures. Penalties reach $1 million per violation or 3 times the purchase price, and the ban lasts 15 years.
  • It lets CDBG funds pay for new affordable housing construction, expands HOME program eligibility to households at up to 100% of area median income, drops the permanent-chassis requirement for manufactured homes, and makes the Rental Assistance Demonstration permanent.
  • It bars the Federal Reserve from issuing a central bank digital currency until December 31, 2030, and says no additional funds are authorized to carry out the act.
Status
Became Public Law 119-101 on July 11, 2026 (sent to the Archivist unsigned). The investor purchase ban takes effect 180 days after enactment.
Official source
Congress.gov: H.R.6644, 21st Century ROAD to Housing Act (Public Law 119-101)
Enrolled bill text

What it does

The act is long, with 12 titles. Highlights: (Congress.gov CRS summary; enrolled text)

  • Large investors and single-family homes (Title X, sec. 1001). “No large institutional investor may purchase, or enter into a contract to directly or indirectly purchase, any single-family home.”
    • Who counts: a for-profit entity in the single-family home business that has investment control of “not less than 350 single-family homes in the aggregate.” Government entities are excluded. “Single-family home” means a structure with 2 or fewer dwelling units, and manufactured homes are excluded.
    • Exceptions: newly built, renovated or converted homes for sale; build-to-rent; renovate-to-rent with improvements worth at least 15% of the price; certain rent-to-own and homeownership programs; foreclosures and loss mitigation; purchases from other covered investors; and communities for people 55 and older.
    • Penalties: up to $1,000,000 per violation or 3 times the purchase price, whichever is greater. Penalties may go to the HOME program for first-time homebuyer help, subject to appropriations.
    • Timing: the ban takes effect 180 days after enactment and is repealed 15 years after that.
    (Enrolled text, sec. 1001)
  • CDBG. New construction of affordable housing becomes an allowed use. Grantees must keep a public, searchable database of undeveloped land they own. Allocations are adjusted based on housing growth. (CRS summary, secs. 104, 204, 213)
  • HOME program. Eligibility rises to households at up to 100% of area median income, up from 80%. Funds may be used for infrastructure like water and sewer lines. (CRS summary, sec. 501)
  • Manufactured and modular homes. The permanent-chassis requirement is removed. FHA loan limits for manufactured homes and home improvements go up, and improvement loans can be used to build accessory dwelling units. (CRS summary, secs. 301, 303)
  • Rental housing. The Rental Assistance Demonstration becomes permanent, with the unit cap raised from 455,000 to 555,000. Section 8 inspections are streamlined for units that recently passed LIHTC, HOME or Rural Housing inspections. (CRS summary, secs. 212, 405)
  • Disaster recovery. HUD’s CDBG Disaster Recovery program is authorized for three years, and HUD gets an Office of Disaster Management and Resiliency. (CRS summary, sec. 504)
  • Veterans. Mortgage applications must note that applicants with military service may qualify for a VA home loan. FHA borrowers must get comparisons with VA loans they qualify for. (CRS summary, secs. 601, 603)
  • Appraisals. Lenders on federally backed mortgages must offer a process for consumers to request reconsideration of value. (CRS summary, sec. 704)
  • Digital dollar. The Federal Reserve may not issue a central bank digital currency. The provision “shall cease to be effective on December 31, 2030.” (Enrolled text, sec. 1101)

Who it affects

Homebuyers and renters, large single-family rental companies, cities, counties and the state that receive HUD CDBG and HOME funds, manufactured-home buyers, veterans, and community banks, which get deposit and exam changes under Title IX. (CRS summary)

Cost

Section 1202 says: “No additional funds are authorized to be appropriated to carry out” the act. (Enrolled text, sec. 1202)

How it passed

The Senate concurred with an amendment 85-5 on June 22, 2026, and the House agreed 358-32 on June 23. It was presented to the President June 29 and became law July 11, 2026, unsigned. (Congress.gov actions) CNBC covered what the law means for buyers and sellers. (CNBC, July 11, 2026)

Current status

Law since July 11, 2026 (Public Law 119-101). Many provisions require HUD or other agency action to carry out. (Congress.gov)

Sources

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Every statement above is drawn from the official source text linked here; section references are shown in grey. This is a plain-English summary, not legal advice. Spot an error? Tell us.