The proposal calls for a 44% reduction in HUD funding and consolidation of rental assistance programs into a single state-administered block grant, shifting administrative responsibility to states and reducing federal oversight.

If passed, this measure would require owners to recognize tenant organizations and engage with them on issues related to building conditions, lease enforcement, and community needs. 

A new federal tax credit would support the construction or rehab of affordable, owner-occupied homes in neighborhoods where development costs exceed market values.