PRICE Act
- Sponsor
- Sen. Cortez Masto, Catherine [D-NV]
- Committees
- Banking, Housing, and Urban Affairs Committee (primary)
- Last action
- Mar 11, 2025
Bottom line
The PRICE Act creates a new federal grant program to support the improvement and preservation of affordable manufactured housing communities, emphasizing resident ownership and long-term affordability.
What it actually does
This bill, known as the PRICE Act, establishes a new competitive grant program within Title I of the Housing and Community Development Act of 1974. The program aims to provide federal funds to eligible recipients for the development and improvement of manufactured housing communities that are affordable to low- and moderate-income persons, with a particular focus on resident-owned or long-term affordable communities.
Proponents argue
Supporters argue this bill addresses a critical need for affordable housing by investing in manufactured housing communities, which often serve low- and moderate-income populations. They contend it will improve living conditions, enhance community infrastructure, and help preserve affordability, especially for resident-owned communities, preventing displacement and promoting resident well-being.
Opponents contend
Critics might argue that creating new grant programs adds to federal spending and bureaucracy, potentially duplicating existing housing assistance efforts. Concerns could also be raised about the effectiveness of federal intervention in local housing markets or the potential for grants to not reach the most vulnerable populations without stringent oversight.
The bill is concise and can be read thoroughly within a short timeframe, allowing for adequate evaluation.
Section 2, adding new Section 123(b) to Title I of the Housing and Community Development Act of 1974
Creation of the PRICE Act Grant Program
This provision directs the Secretary (presumably of Housing and Urban Development) to establish a competitive grant program. This program will award funds to eligible recipients for projects that develop or improve eligible manufactured housing communities, serving as the core mechanism of the bill to provide financial assistance.
Supporters argue
Supporters argue this program is essential for providing much-needed financial resources to upgrade and maintain manufactured housing communities, which are a vital source of affordable housing. They believe it will directly benefit residents by improving their living environment and housing security.
Critics contend
Critics might express concern about the creation of new federal programs, arguing that existing mechanisms might be sufficient or that this could lead to inefficient allocation of resources. They might also question the federal government's role in local community development.
Tradeoffs
The tension lies between the clear need for investment in affordable housing infrastructure and concerns about federal spending and administrative overhead.
Section 2, adding new Section 123(a)(2) to Title I of the Housing and Community Development Act of 1974
Targeting Affordability and Resident Ownership
This provision defines an 'eligible manufactured housing community' as one that is affordable to low- and moderate-income persons (up to 120% of the area median income) and is either resident-owned or committed to maintaining affordability for the longest feasible period. This ensures the program's funds are directed to communities most aligned with its goals of affordability and resident empowerment.
Section 2, adding new Section 123(c) to Title I of the Housing and Community Development Act of 1974
Scope of Grant-Funded Activities
This section outlines a broad range of activities for which grant funds can be used, including improvements to community infrastructure, reconstruction or repair of existing housing, replacement of homes (with specific rules for pre-1976 units), planning, resident health/safety/accessibility activities, land acquisition for expansion, and resident/community services like relocation assistance. It also allows for other approved activities that improve living conditions and ensure long-term affordability and sustainability.
Section 2, adding new Section 123(d) to Title I of the Housing and Community Development Act of 1974
Grant Award Prioritization
This provision mandates that the Secretary prioritize grant applications that will primarily benefit low- and moderate-income residents and preserve long-term housing affordability within eligible manufactured housing communities. This reinforces the bill's core objective of supporting vulnerable populations and ensuring lasting housing solutions.
The Secretary may waive or specify alternative requirements for any law or regulation administered in connection with the use of funds, except for fair housing, nondiscrimination, labor standards, and environmental requirements. This is allowed if the waiver is consistent with the section's purposes and necessary to facilitate the use of funds.
Section 2, adding new Section 123(e) to Title I of the Housing and Community Development Act of 1974
Why it matters:This is a common legislative practice to provide administrative flexibility in new grant programs, but it can also be used to streamline processes that might otherwise be cumbersome.
Case for: Supporters argue that this flexibility is essential for efficient program implementation, allowing the Secretary to adapt to diverse local conditions and overcome bureaucratic hurdles that might otherwise delay or prevent projects.
Case against: Critics might express concern that broad waiver authority could lead to reduced oversight, inconsistent application of standards, or a weakening of protections, even with the stated exceptions for fair housing and labor standards.
Estimated impact: Could significantly impact how the program is administered and the speed at which funds are deployed.
Grants cannot be used for rehabilitation or modernization of manufactured housing units built before June 15, 1976. However, they can be used for the disposition and replacement of these units, provided the replacement housing complies with current Manufactured Home Construction and Safety Standards or is another allowed home type.
Section 2, adding new Section 123(c)(2) to Title I of the Housing and Community Development Act of 1974
Why it matters:This is a technical detail related to housing safety standards and the age of manufactured homes, which might be overlooked by a casual reader focusing on the broader project types. It's standard practice to ensure new federal funding aligns with modern safety codes.
Case for: Proponents argue this ensures that federal funds are used to bring housing up to modern safety and quality standards, protecting residents and improving the long-term viability of communities. Rehabilitating very old units might be less cost-effective than replacement.
Case against: Critics might argue that a strict replacement-only rule for pre-1976 units could be costly and might not always be the most environmentally friendly option compared to deep rehabilitation, especially if the existing units are structurally sound.
Estimated impact: Could significantly impact the cost and scope of projects in communities with older housing stock, potentially leading to more new construction.