The bill establishes the United States Interagency Council on Housing Affordability and Preservation as an independent entity within the executive branch. Its primary mission is to develop federal policy aimed at preserving and increasing the supply of affordable housing, enhancing fairness in the rental market, and advancing the principles of fair housing. The Council is designed to foster a national partnership involving all levels of government and the private sector to achieve these objectives. The Council will comprise the heads or designees of numerous federal agencies, including the Departments of Housing and Urban Development, Justice, Labor, and Treasury, among others. It is tasked with developing a National Strategic Plan to Preserve Affordable Housing within 12 months of enactment, which will be updated annually. Key functions also include reviewing federal housing programs, providing professional and technical assistance to state and local governments through regional coordinators, and encouraging the creation of State Interagency Councils on Affordable Housing and 10-year plans to end homelessness. Additionally, the Council will conduct research, develop joint federal initiatives, and disseminate information on federal resources for affordable housing. It is required to submit annual reports to the President and Congress detailing its activities, assessing affordable housing needs, and recommending legislative and administrative actions. The bill authorizes an appropriation of $4,800,000 for each of fiscal years 2027 through 2031 to carry out its provisions.