The main purpose of this legislation, known as the "Identifying Regulatory Barriers to Housing Supply Act," is to address the housing shortage in the United States by reducing overly burdensome land use policies. The goal is to make housing more affordable and accessible, in line with the original intent of the Community Development Block Grant program. Key provisions of the legislation require certain grantees who receive funding under the Housing and Community Development Act of 1974 to create and submit a plan that tracks land use policies that may hinder housing development.