Vacancy to Value Act of 2026
To authorize the Administrator of the General Services Administration, in coordination with the Secretary of Housing and Urban Development, to establish a pilot program and a grant program administered by the Department of Housing and Urban Development to facilitate the sale or transfer of underutilized Federal property to eligible entities for economic redevelopment, and for other purposes.
HB9011, known as the Vacancy to Value Act of 2026, aims to encourage the economic redevelopment of underutilized federal properties. The bill proposes to authorize the Administrator of the General Services Administration, in collaboration with the Secretary of Housing and Urban Development, to set up a pilot program and a grant program. These programs would be administered by the Department of Housing and Urban Development to facilitate the sale or transfer of federal properties to eligible entities. The goal is to stimulate economic growth and community revitalization by making these properties more productive.
The proposed act would primarily affect local communities, developers, and entities interested in acquiring and redeveloping federal properties. By transferring underutilized properties to these groups, the bill seeks to promote economic redevelopment, potentially leading to job creation, increased tax revenue, and improved community infrastructure. Eligible entities could include non-profits, local governments, and private developers who have a clear plan for utilizing the properties.
HB9011 was introduced on May 22, 2026, and referred to the Committee on Transportation and Infrastructure, as well as the Committees on Oversight and Government Reform, and Financial Services. These committees will review the bill's provisions and determine its next steps in the legislative process. The act is currently in its initial stages, and further action will depend on the committees' recommendations and the broader legislative agenda.
