Homes Act of 2024

The Homes Act of 2024 establishes a new Housing Development Authority within HUD to create permanently affordable, climate-resilient housing that's shielded from market speculation. The Act requires at least 40% of new units to be reserved for extremely low-income families, with rents set at 25% of household income, and includes strong tenant protections including just-cause eviction standards. It creates new requirements for community control, ensuring residents have a direct role in management and decision-making for housing developments. The Act also establishes specific labor provisions requiring prevailing wages and local hiring for construction projects.