H.R. 10294 proposes to create a pilot program by the Secretary of Housing and Urban Development to test the effectiveness of insuring loans that fund the conversion of basements into safe, habitable rental units. This program, set to last for five years, allows up to 150,000 mortgages for...
Simple Explanation
H.R. 10294 is like a plan where the government wants to test if it's a good idea to help people turn their basements into safe little apartments by giving them special loans. They will do this for five years, make sure the new apartments are safe, and then check if this plan worked well.