The U.S. House of Representatives passed the “21st Century ROAD to Housing Act” on May 20,2026, with an overwhelmingly bipartisan vote of 396-13.

The bill text for the wide-ranging housing reform legislation, a different version of which was advanced by the Senate in March, was updated less than 24 hours prior to passage to further adjust the White House-driven prohibition on institutional investment in housing.

The softened ban still prohibits purchases of single family homes by large, for profit investors, but it does not require the divestment of current housing ownership. While the language passed by the House no longer includes explicit, LeadingAge-requested exemptions for non-profit entities or for the Low Income Housing Tax Credit (LIHTC), key lawmakers explained the intent of Congress to exclude those categories in their official statements during House proceedings. LeadingAge also expects the exclusions will be outlined in forthcoming report language accompanying the legislation.

Separately from the institutional investment provision, LeadingAge applauds the legislative reforms to improve rural housing preservation, to modernize the HOME Investment Partnerships program, and to review the applicability of domestic procurement requirements that slow down housing development. Because the advanced legislation differs substantially from the Senate-passed version, the negotiations between House and Senate will continue before the bill can become law.

LeadingAge will continue our work with both the House and Senate to advance this legislation and to enact additional reforms to address the affordable senior housing crisis in America.