Workforce Housing and Rental Preservation Incentive Act

This bill would establish a competitive federal grant program administered by the Secretary of Housing and Urban Development to help states and municipalities expand workforce housing near jobs, schools, and transit and preserve existing low-income rental units. Eligible projects would include the construction, rehabilitation, or conversion of rental housing, with priority for proposals that leverage state, local, nonprofit, or private financing; maintain long-term affordability; streamline permitting; and prevent displacement. Grants would require enforceable affordability periods, basic tenant protections, and annual public reporting on costs, units created or preserved, and outcomes.