1. Short title This Act may be cited as the Affordable Housing Preservation and Protection Act of 2024 . 2. Revitalization and preservation of distressed multifamily properties (a) Definitions As used in this section— (1) the term multifamily housing project means a project consisting of five or more dwelling units assisted or approved to receive a transfer of assistance, insured, or with a loan held by the Secretary or a State or State agency in part or in whole pursuant to— (A) section 8(b) of the United States Housing Act of 1937 ( 42 U.S.C. 1437f(b) ); (B) section 202 of the Housing Act of 1959 ( 12 U.S.C. 1701q ); (C) section 202 of the Housing Act of 1959 (former 12 U.S.C. 1701q ), as such section existed before the enactment of the Cranston-Gonzalez National Affordable Housing Act ( Public Law 101–625 ; 104 Stat. 4079); (D) section 811 of the Cranston-Gonzalez National Affordable Housing Act ( 42 U.S.C. 8013 ); (E) section 236 of the National Housing Act ( 12 U.S.C. 1715z–1 ); (F) a housing assistance payments contract for project-based rental assistance; or (G) a Second Component contract for project-based rental assistance converted in accordance with the matter under the heading rental assistance demonstration under the heading management and administration under the heading Department of Housing and Urban Development in title II of division C of the Consolidated and Continuing Appropriations Act, 2012 ( 42 U.S.C. 1437f note; Public Law 112–55 )