The Housing Production Omnibus Amendment Act of 2026 seeks to overhaul the District of Columbia's housing funding and production strategies by establishing the Housing Opportunity Fund, which replaces the Housing Production Trust Fund. This new fund consolidates various housing programs into five sub-accounts: the Housing Production Account, Affordable Housing Subsidy Account, Preservation Account, Tenant Purchase Support Account, and District Acquisition Account. The legislation mandates that at least 5% of funds in any sub-account be allocated for compliance monitoring and enforcement, and it requires the Mayor to propose an annual budget of at least $150 million for the Fund, ensuring that 60% of the total appropriated amount goes to the Housing Production and Affordable Housing Subsidy Accounts.

In addition to creating the Housing Opportunity Fund, the bill enhances the District's capacity to accelerate housing production by allowing retirement funds to invest in local housing, improving land acquisition processes, and providing flexible financing options for public land projects. It emphasizes maintaining affordability for housing units funded through the program, with rental units required to remain affordable for at least 40 years and for-sale units for a minimum of 15 years. The legislation also establishes a Housing Opportunity Fund Board for oversight, mandates transparency through a publicly accessible database, and includes provisions for compliance monitoring and reporting. Overall, the bill aims to address the housing shortage in D.C. by fostering affordable housing development and protecting residents from displacement.