H.R. 10534 — Affordable Housing Preservation and Protection Act of 2026

This section authorizes the Secretary of Housing and Urban Development to provide direct loans, which may be forgivable, to owners, sponsors, or HUD-approved purchasers of distressed multifamily housing projects for necessary physical improvements. Loans carry 1 percent interest with repayment coterminous with a required 30-year affordable housing use agreement, and recipients must secure at least 20 percent of total improvement costs from non-Federal sources.