House and Senate Advance Different Versions of Housing Legislation

Lawmakers on Capitol Hill are working this week to reconcile differences between House and Senate versions of housing legislation. The House released a revised version of the 21st Century ROAD to Housing Act last week after the Senate passed its version in an overwhelming vote.

The House Financial Services Committee produced the new draft after the White House and President Donald Trump urged the House to pass the Senate version without changes. House members said the Senate bill lacked the votes needed for passage under suspension rules, which require a two-thirds majority.

One major difference involves restrictions on institutional investors buying single-family homes. The House version narrows the definition of a single-family home and removes a Senate provision that would have required investors in build-to-rent homes to sell those properties within seven years.

The National Association of Home Builders and the National Multifamily Housing Council had opposed the build-to-rent requirement. Sharon Wilson Geno, president of the National Multifamily Housing Council, said the House understood the issue better. Senate aides said the combined House changes could allow private equity firms to compete more effectively against families for housing.

Sen. Bernie Moreno said on X that the House changes would harm the bipartisan bill.

The House is scheduled to vote on the bill Wednesday and then leave for recess until June. A senior House GOP aide said the House amendment reflects an effort to find consensus. A senior Senate GOP aide said any changes would threaten bipartisan support in the Senate.

Senate Majority Leader John Thune said Monday he is waiting to see what the House does with the legislation. The Senate requires a 60-vote majority to pass the bill.