The bill would create a Housing Stabilization Fund at the Department of Housing and Urban Development. The fund would provide grants to local homelessness assistance partnerships for short-term help to extremely low-income and very low-income families facing financial hardship and trouble meeting housing costs. Eligible help could include rent or mortgage payments, utility bills, needed repairs, legal assistance, counseling, and other short-term costs that support housing stability. Grants would require an approved application. Starting in fiscal year 2028, 80 percent of available grant funds would be distributed by a formula and 20 percent through a competition.
Eligible families could receive help through a local program if they meet its requirements and show they cannot meet housing-related costs because of financial hardship. The bill does not promise assistance to any specific person or household. Funding would depend on future appropriations.
The bill would authorize $100 million per year for the fund for fiscal years 2027 through 2031. The money would be available only to the extent provided in future appropriations acts. Rent assistance would generally be limited to eight months in a 12-month period, with monthly limits set by the Department. Mortgage assistance would also be limited to eight months in a 12-month period and subject to a limit set by the Department.
No publicly available information.
No publicly available information.