The U.S. House of Representatives is expected to vote this Wednesday on an amended version of H.R. 6644, the 21st Century ROAD to Housing Act.
Argentum was able to successfully advocate for a critical change to the bill from the Senate-passed version that would have resulted in unintended consequences for senior housing. Special thanks to our state partner, the Arkansas Residential Assisted Living Association, for their advocacy with House Financial Services Committee Chairman French Hill (R-AR) to ensure our concerns were addressed, and for the collective work with our partners at the American Senior Housing Association (ASHA) and the National Center for Assisted Living (NCAL).
Argentum, ASHA, and NCAL’s primary concern centered on a provision in the Senate-passed housing bill that would prohibit large institutional investors from purchasing single-family homes (including those as part of a senior living community), with limited exceptions for properties serving the 55+ community. However, the Senate language limited this exception to new construction, renovations, and rental conversions, and failed to include protections for existing properties.
By excluding existing properties, the Senate bill effectively denied senior housing communities equal treatment under the exception. Congressman Hill and Waters have confirmed that the amended House language removes all references to new construction, renovation, and conversion, and instead applies the exception uniformly to all properties, including those already in existence.
This revised language reflects exactly what Argentum, ASHA, and NCAL have been advocating for, and we are deeply appreciative to the House Financial Services Committee leadership, in making this critical correction.
Next Steps
The House vote on the bill is expected on Wednesday, May 20. If passed, the legislation will return to the Senate for consideration. It’s fate there is not certain, making passage in the House critical to our ongoing efforts to influence the final outcome. President Trump has urged lawmakers to pass the bill and present it for signature.
Call to Action
We urge all Argentum members to join this collective industry effort by contacting your Member of Congress and encouraging a yes vote on H.R. 6644.
Thank you for your continued engagement on this issue. We are especially grateful to those members who have leveraged personal relationships with Chairman Hill, Ranking Member Waters and other key lawmakers to help secure this positive outcome.