Create a five-year federal pilot program to provide grants and FHA-backed financing for homeowners to convert basements into safe, code-compliant rental units.

Meeks and Velázquez reintroduced the Habitable Housing Conversion Pilot Program of 2026 or the "Basement Bill." The measure would establish a 5-year pilot program to provide grants for homeowners to transform their basements into safe apartment units.

Reintroduced legislation to create a five-year pilot program offering grants and FHA-backed financing so homeowners can convert basements into safe rental units.

Meeks and Velázquez Reintroduce Legislation to Lower Housing Costs for Homeowners and Renters | Congressman Gregory Meeks
primary · press_release · model gpt-5.4-mini

The site’s May 15, 2026 news blurb says Meeks and Velázquez reintroduced the Habitable Housing Conversion Pilot Program of 2026, describing it as the 'Basement Bill' and saying it would establish a 5-year pilot program to provide grants for homeowners to transform basements into safe apartment units.

Official congressional-site evidence that Meeks reintroduced the basement-conversion pilot proposal during the lookback window, but it was still only a reintroduction, not enactment.

partial later_term A for effort

Congressman Gregory Meeks | Representing the fifth District of New York
primary · model gpt-5.4-mini · confidence 97%

The bill text provides the substantive proposal: HUD would run a 5-year pilot to insure section 203(k) mortgages for basement conversions into safe, habitable rental units that meet state and local codes.

Official bill text confirms the proposed federal pilot program structure and FHA/HUD-backed financing concept underlying the claim.

partial later_term A for effort

H.R. 10294 (118th Congress) bill text
primary · model gpt-5.4-mini · confidence 95%