This bill amends the HOME Investment Partnerships program. It lets participating jurisdictions that do not receive title I community development assistance use HOME funds for infrastructure improvements (for example, water and sewer lines, sidewalks, roads, and utility connections) when those improvements are directly related to housing assisted under HOME or housing using section 42 tax credits. The bill applies the labor standards in section 110 of the Housing and Community Development Act to those infrastructure projects. The Department of Housing and Urban Development must issue rules to carry out this change within one year.
The bill also changes affordable homeownership rules. It raises a numerical income limit from "95 percent" to "110 percent" in two places in the statute. It adds a requirement that affordable homeownership can maintain long-term affordability through shared equity models, community land trusts, limited equity cooperatives, community development corporations, or other HUD-approved mechanisms. The bill creates two qualification exceptions: participating jurisdictions may waive certain income rules for owners who are active military or on certain orders, and heirs or beneficiaries who live in the principal residence of a deceased owner may continue to qualify if they assume the owner's program obligations.
No publicly available information on estimated costs or changes to annual appropriations is included in the bill text. The bill changes permitted uses of HOME funds and eligibility rules but does not include a federal cost estimate in the text provided.
No publicly available information in the bill text about proponents' stated views or arguments.
No publicly available information in the bill text about opponents' stated views or arguments.