0
0
0
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.
12/16/2024, 7:28 PM
Summary of Bill HR 10294
Bill 118 hr 10294, also known as the Basement Dwelling Conversion Pilot Program Act, aims to create a pilot program within the Department of Housing and Urban Development (HUD) to assess the viability of insuring mortgages for homeowners looking to convert their basement spaces into habitable living units. The goal of this program is to provide a safe and affordable housing option for individuals and families, while also potentially increasing the overall housing supply.
The program would evaluate the effectiveness of providing mortgage insurance for these types of conversions, with the hope of encouraging more homeowners to invest in making their basements livable. This could potentially help alleviate housing shortages in certain areas and provide more affordable housing options for those in need.
In addition to evaluating the impact of insuring these mortgages, the bill also aims to study the potential benefits and challenges of basement dwelling conversions, including any safety concerns or zoning issues that may arise. The findings from this pilot program would then be used to inform future housing policy decisions and potentially expand the program on a larger scale. Overall, the Basement Dwelling Conversion Pilot Program Act seeks to explore innovative solutions to address housing shortages and provide safe, affordable housing options for individuals and families. It will be interesting to see the results of this pilot program and how it may impact housing policy in the future.
The program would evaluate the effectiveness of providing mortgage insurance for these types of conversions, with the hope of encouraging more homeowners to invest in making their basements livable. This could potentially help alleviate housing shortages in certain areas and provide more affordable housing options for those in need.
In addition to evaluating the impact of insuring these mortgages, the bill also aims to study the potential benefits and challenges of basement dwelling conversions, including any safety concerns or zoning issues that may arise. The findings from this pilot program would then be used to inform future housing policy decisions and potentially expand the program on a larger scale. Overall, the Basement Dwelling Conversion Pilot Program Act seeks to explore innovative solutions to address housing shortages and provide safe, affordable housing options for individuals and families. It will be interesting to see the results of this pilot program and how it may impact housing policy in the future.
Current Status of Bill HR 10294
Bill HR 10294 is currently in the status of Bill Introduced since December 4, 2024. Bill HR 10294 was introduced during Congress 118 and was introduced to the House on December 4, 2024. Bill HR 10294's most recent activity was Referred to the House Committee on Financial Services. as of December 4, 2024
Bipartisan Support of Bill HR 10294
Total Number of Sponsors
2Democrat Sponsors
2Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
2Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 10294
Primary Policy Focus
Alternate Title(s) of Bill HR 10294
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.
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.
Comments
Sponsors and Cosponsors of HR 10294
Latest Bills
Medical Nutrition Therapy Act of 2026
Bill S 3934March 17, 2026
A bill to require the Secretary of the Treasury to mint and issue coins that are emblematic of the National Fallen Firefighters Memorial and the service and sacrifice of firefighters throughout the history of the United States.
Bill S 4051March 17, 2026
A bill to take certain land in the State of California into trust for the benefit of the Pechanga Band of Indians, and for other purposes.
Bill S 4053March 17, 2026
A bill to establish an AmeriCorps Administration to carry out the national and volunteer service programs, to expand participation in such programs, and for other purposes.
Bill S 4068March 17, 2026
A bill to call for accountability for the killing of innocent civilians, including 5-year-old Hind Rajab and two paramedics, in an attack in Gaza City on January 29, 2024, by Israel Defense Forces, to require the Secretary of State to report to Congress on the attack, and for other purposes.
Bill S 4095March 17, 2026
A bill to improve the health and resiliency of giant sequoias, and for other purposes.
Bill S 4103March 17, 2026
A resolution honoring the life and legacy of Reverend Jesse Louis Jackson, Sr., and commending him for his significant leadership during the Civil Rights Movement and his decades of advocacy in pursuit of justice, equality, and human rights.
Bill SRES 629March 17, 2026
Providing for consideration of the bill (H.R. 6856) to impose sanctions and other measures with respect to the Russian Federation if the Government of the Russian Federation refuses to negotiate a peace agreement with Ukraine, violates any such agreement, or initiates another military invasion of Ukraine, and for other purposes.
Bill HRES 1067March 17, 2026
Providing for consideration of the joint resolution (H.J. Res. 143) enabling Congress to advance important policies.
Bill HRES 1068March 17, 2026
Providing for consideration of the bill (H.R. 4626) to amend the Energy Policy and Conservation Act to prohibit the Secretary of Energy from prescribing any new or amended energy conservation standard for a product that is not technologically feasible and economically justified, and for other purposes, and providing for consideration of the bill (H.R. 4758) to repeal provisions of Public Law 117-169 relating to taxpayer subsidies for home electrification, and for other purposes.
Bill HRES 1075March 17, 2026