This bill, known as the "Sparking Production of Urban and Rural Housing Act" or the "SPUR Housing Act," mandates the Secretary of Housing and Urban Development to establish an emerging developer fund program within one year of enactment. This program will offer competitive grants to eligible nonprofit housing organizations and community development financial institutions (CDFIs). The primary goal is to support emerging developers , defined as those with limited real estate development experience, liquidity, or net worth, in undertaking affordable housing and community development projects. Grant recipients will utilize these funds to provide various forms of financing, such as predevelopment loans, loan loss reserves, and credit enhancements, to emerging developers. They will also capitalize funds and offer crucial capacity-building training and technical assistance , covering areas like budgeting, financing, securing capital, and business planning. The Secretary will prioritize organizations that support emerging developers focusing on projects in distressed communities and high opportunity areas, with an authorization of $50,000,000 annually for fiscal years 2026 through 2030 to fund this initiative.