The Community Housing Act of 2026 seeks to comprehensively address the national housing crisis by making substantial investments in affordable housing supply, promoting perpetual affordability, and reforming restrictive land use policies. It proposes significant appropriations, including $44.5 billion annually for the Housing Trust Fund and $1.5 billion annually for the Capital Magnet Fund from fiscal years 2027 through 2036, alongside over $24 billion for the HOME Investment Partnerships Program in fiscal year 2027. These funds are intended to increase the development, rehabilitation, and preservation of affordable and accessible housing units nationwide. To further boost housing supply and reduce barriers, the bill repeals the Faircloth Amendment , allowing public housing agencies to increase their number of units. It establishes an "Unlocking Possibilities Program" with $1.646 billion for competitive grants to states and localities, encouraging zoning reform, streamlining regulatory processes, and developing comprehensive housing plans. A new HUD Office of Community Land Use and Zoning will be created to provide technical assistance and guidance on land use policies that promote housing availability and affordability. The legislation also focuses on rental support and perpetual affordability through various initiatives. It appropriates $10 million annually for the HUD Eviction Protection Grant Program and provides $12 million for the Neighborhood Reinvestment Corporation to promote shared equity housing models. A new Shared Equity Housing Fund, with $500 million, will offer grants for creating and expanding community land trusts and shared equity homeownership programs, ensuring long-term affordability for eligible households. For homeownership, the bill allocates $4 billion annually for rural direct home loans through the USDA and $1 billion annually for Housing Choice Voucher downpayment assistance. It also modernizes Historic Tax Credit standards to facilitate residential use in historic commercial properties. Furthermore, the bill increases Federal Home Loan Bank contributions to affordable housing to 20% of net income and continues the FHA-Federal Financing Bank partnership for affordable rental housing. Rural housing receives dedicated attention with the permanent establishment of a Housing Preservation and Revitalization Program, authorizing $200 million annually to restructure loans, renew rental assistance for 20-year terms, and protect tenants in maturing rural multifamily projects. An interagency task force will be formed to coordinate substance use disorder treatment with affordable housing availability. Additionally, $200 million annually is appropriated for rural rental housing loans, reinforcing support for critical housing options in rural communities.