WASHINGTON D.C (VINnews) – The U.S. House of Representatives overwhelmingly approved bipartisan legislation Wednesday aimed at addressing the nation’s housing affordability crisis by increasing supply, reforming regulations and limiting purchases by large institutional investors.

The 21st Century ROAD to Housing Act (H.R. 6644) passed by a vote of 396-13. It now returns to the Senate for reconciliation with that chamber’s version, which passed 89-10 in March. The measure could soon head to President Trump’s desk for signature.

The bill bars entities controlling 350 or more single-family homes from purchasing additional single-family properties of up to two units. The restriction seeks to preserve housing inventory for individual buyers and families. The House version eliminated a Senate provision that would have required certain build-to-rent properties to be offered for sale to individuals after seven years.

Violators face civil penalties of up to $1 million.

Beyond investor limits, the legislation streamlines permitting and zoning processes, modernizes the HOME Investment Partnerships Program for affordable housing, and expands the use of manufactured housing. It also includes targeted reforms for rural housing, veterans’ housing, Opportunity Zones and community development initiatives.

Lawmakers from both parties described the package as a significant step toward tackling high housing costs by addressing supply constraints and regulatory barriers that have hampered new construction.