This bill changes how community development block grant (CDBG) money is given to metropolitan cities and urban counties that get funds under section 106. It measures each place's housing unit growth over two multi-year periods and calculates a "housing growth improvement rate." Places with growth rates at or above the median (or those growing very fast at 4% or more per year) can receive a bonus. Places below the median have their allocation reduced by 10 percent. The bonuses come from the total amount taken from those reduced allocations and are split based on each bonus recipient's share of housing units. HUD must use Census address files at the block level to count housing units, can adjust calculation periods by up to two months, and must publish an annual report listing each eligible recipient's growth rate and which places got bonuses or cuts. HUD must notify recipients of their growth rate within 60 days after enactment and share guidance on reducing regulatory barriers to housing. The allocation changes start the third full fiscal year after enactment and stay in effect through fiscal year 2043.
The bill redistributes existing CDBG allocations: it reduces some recipients by 10 percent and uses those reductions to pay bonuses to other recipients. The text does not provide an overall cost estimate or describe any new federal spending beyond reallocating those allocations. No publicly available information on total dollar amounts or fiscal impact is provided in the bill text.
No publicly available information.
No publicly available information.