Establishes a permanent affordability homeownership program for low and moderate income buyers.

The bill creates a permanent affordability homeownership program to aid in the development and construction of housing units affordable to low and moderate income buyers. The Executive Office of Housing and Livable Communities will administer the program, accepting funds from federal authorities. The program will only fund projects of an appropriate size, defined as those with 1 to 25 housing units. The Secretary of Housing and Livable Communities will report annually on the program's activities and funded projects.

Establishes a permanent affordability homeownership program for low and moderate income buyers.

The bill creates a permanent affordability homeownership program to aid in the development and construction of housing units affordable to low and moderate income buyers. The Executive Office of Housing and Livable Communities will administer the program, accepting funds from federal authorities. The program will only fund projects of an appropriate size, defined as those with 1 to 25 housing units. The Secretary of Housing and Livable Communities will report annually on the program's activities and funded projects.