S 3962 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
Housing and Economic Development Act
To improve interagency coordination between the Department of Housing and Urban Development and the Economic Development Administration, and for other purposes.
Summary
The bill requires the Department of Housing and Urban Development and the Economic Development Administration to establish an interagency agreement to improve coordination on jointly funded housing and economic development projects. The agreement would include coordinating application timelines, standardizing terminology, reducing reporting burdens, and designating clear points of contact for applicants and grantees. The bill also requires the agencies to identify coordination barriers and opportunities, share housing research and data, and submit recommendations to Congress within one year on improving the efficiency of future jointly funded projects.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
1 cosponsor
- Sen. McCormick, David [R-PA] (R-PA)
Actions (2)
- Mar 2, 2026 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Mar 2, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
March 2, 2026
Ms. Hassan (for herself and Mr. McCormick) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To improve interagency coordination between the Department of Housing and Urban Development and the Economic Development Administration, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Housing and Economic Development Act”.
SEC. 2. MEMORANDUM OF UNDERSTANDING.
The Secretary of Housing and Urban Development and the Assistant Secretary of Commerce for Economic Development shall establish a memorandum of understanding, or other appropriate interagency agreement, to—
(1) increase collaboration related to projects approved by and funded by amounts from both the Department of Housing and Urban Development and the Economic Development Administration to construct housing and implement economic development projects, which, where practicable, may include—
(A) coordinating timelines for application review and award decisions;
(B) standardizing terminology and definitions used in notices of funding opportunities;
(C) issuing joint guidance to reduce any duplicative reporting and administrative burden for applicants and grantees; and
(D) establishing clear points of contact at each agency to resolve questions for applicants and grantees regarding jointly funded projects;
(2) identify barriers preventing the Department of Housing and Urban Development and the Economic Development Administration from further coordination and identify future opportunities to promote jointly funded projects that advance shared goals; and
(3) share relevant housing-related research and market data that facilitate evidence-based policymaking.
SEC. 3. INTERAGENCY REPORT.
Not later than 1 year after the date of enactment of this Act, the Secretary of Housing and Urban Development and the Assistant Secretary of Commerce for Economic Development shall jointly submit to the Committee on Banking, Housing, and Urban Affairs and the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Financial Services and the Committee on Energy and Commerce of the House of Representatives a report that includes recommendations for legislative, regulatory, or administrative actions to improve the efficiency of, and reduce barriers to future collaboration on, construction projects jointly funded by amounts from the Department of Housing and Urban Development and the Economic Development Administration. <all>
Comments