This bill mandates the Secretary of Housing and Urban Development to establish a grant program within 90 days of enactment. The program aims to provide financial assistance to developers, allowing them to offset State and local taxes and impact fees associated with building housing developments. This initiative seeks to incentivize and facilitate the construction of new housing units across the country. To qualify for these grants, developers must obtain all necessary State and local government approvals for their projects. A critical requirement is securing commitments from these governments to reduce property taxes on the proposed housing developments by at least 50 percent. Grants will be awarded annually for up to five years, with an individual grant amount capped at the lesser of 50 percent of the total taxes and fees or $150,000. The selection process prioritizes projects that will significantly increase the amount of affordable housing , are feasible, and can commence construction within one year. Additional priorities include developments located in priority housing areas , those that are transit-oriented or near employment hubs, and projects utilizing infill sites. The bill also favors developments targeting workforce housing needs, including senior-friendly or accessible units, employing adaptive reuse, or incorporating supportive housing elements for vulnerable populations. The bill authorizes $300,000,000 annually for fiscal years 2027 through 2031 to fund this program.