Bill > HR2206

This bill establishes the Housing Stabilization Fund, a new federal program administered by the Department of Housing and Urban Development (HUD) to provide emergency housing assistance to extremely low-income and very low-income families. The fund will provide grants to Continuums of Care (local collaborative groups that coordinate homeless services) to support emergency housing assistance programs. These programs can offer financial help for various housing-related needs, including up to 8 months of rent or mortgage assistance, utility payments, housing repairs, security deposits, legal assistance, and other short-term costs that help stabilize housing for vulnerable families. In fiscal year 2027, the full fund allocation will go to Continuums of Care based on a formula considering factors like the population of extremely low-income and homeless families. In subsequent years, 80% of funds will be allocated by formula, and 20% through a competitive grant process that rewards innovative approaches to preventing homelessness. The bill authorizes $100 million annually from 2027 to 2031, with grant recipients required to demonstrate financial hardship through documentation like past-due notices or by working with local housing authorities to identify families at risk of losing their housing.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/2206/all-info