Congressman French Hill is celebrating what he calls the most significant federal housing legislation in decades after the 21st Century ROAD to Housing Act officially became law.
Hill, who serves as chairman of the House Financial Services Committee, announced the milestone during a press conference in Maumelle, saying the bipartisan legislation is designed to increase housing availability, reduce regulatory barriers, and make homeownership more attainable for families in Arkansas and across the United States.
The measure passed with overwhelming bipartisan support, clearing the U.S. Senate by an 85-14 vote and the U.S. House of Representatives by 358-32 before being signed into law.
Hill: “Washington Can Still Work”
Hill said the legislation fulfills one of the goals he set when he first ran for Congress.
“When I first ran for Congress, I set out to author and pass legislation that improves the lives of central Arkansans and prove that Washington could still work for the American people.”
He called the bill the result of years of negotiations and bipartisan cooperation.
“By working together, debating in good faith, and putting the interests of Americans ahead of politics, good policy can become law.”
What’s Included in the New Law?
The 21st Century ROAD to Housing Act contains more than 45 provisions designed to increase housing construction and modernize federal housing programs.
According to Hill’s office, the legislation will:
Reduce federal regulations that slow home construction.
Increase the nation’s housing supply.
Modernize building codes.
Strengthen community banks and expand local lending.
Improve mortgage availability.
Increase congressional oversight of the U.S. Department of Housing and Urban Development (HUD).
Give communities greater flexibility to address local housing needs.
Restrict large institutional investors from outbidding individual families for homes.
Hill said the measure also supports one of President Trump’s housing priorities by limiting the ability of institutional investors to dominate residential home purchases.
Benefits for Arkansas
Hill said Arkansas community banks stand to benefit from the legislation through targeted regulatory relief designed to expand local lending for new home construction and mortgages.
Supporters believe stronger community banks could help finance additional housing developments while giving more Arkansas families access to affordable mortgage loans.
The legislation also encourages updated building codes and more flexible zoning policies intended to speed construction and lower development costs.
A Bipartisan Effort
Hill credited Tim Scott, chairman of the Senate Banking Committee, along with Maxine Waters, the ranking Democrat on the House Financial Services Committee, for helping negotiate the bipartisan package.
Hill called the legislation “a win for families from Arkansas to every corner of this country.”
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