The U.S. House Financial Services Committee is seeking a compromise with Democrats on the 21st Century ROAD to Housing Act, different versions of which have already passed both the House and Senate by broad bipartisan margins. Lawmakers are seeking a consensus resolution to Section 901 of the legislation, where Argentum has concerns about potential unintended impacts to senior housing.
In March, the Senate voted 89-10 to pass H.R. 6644, following the House’s passage in February by a vote of 390-9. The Senate versions added limits on large investors buying single‑family homes and a temporary ban on a Federal Reserve central bank digital currency, which have been broadly opposed by House lawmakers, and as a result, there are not currently enough votes in the House to pass the Senate’s version as-is. The House is considering advancing a compromise bill—of which details have not been released—and holding a vote on the suspension calendar, meaning it would need two-thirds majority for passage, but could bypass the full committee review process.
Argentum remains concerned about Section 901 of the bill that could limit future supply of seniors housing. Due to the bill’s definition of “single-family home,” this restriction may inadvertently apply to existing senior living communities that include duplexes, cottages, or villas. Although the bill includes an exemption for age-restricted (55+) communities, that exemption is limited only to new construction, renovations, and rental conversions—and does not clearly protect existing communities.
Argentum has been working closely with the American Seniors Housing Association (ASHA) and the National Center for Assisted Living (NCAL) to raise awareness of these concerns and we have offered proposed amendment language to address our concerns. But we need your help!
Take Action! We need all senior living stakeholders to join us in sending letters to Capitol Hill alerting them of our concerns. We urge you to contact your Members of Congress today and request a clarification to Section 901 to ensure that existing senior living communities are fully exempt from these restrictions. Taking action is quick and easy using the prepared letter and advocacy tool.