Bill > HR6363

This bill introduces a new method for allocating Community Development Block Grant (CDBG) funds to metropolitan cities and urban counties based on their housing growth rates. The bill defines several key terms, including "housing growth improvement rate," which measures the change in housing unit growth from one period to another. Under the proposed legislation, eligible recipients will either receive a bonus allocation or have their funding reduced by 10% depending on their housing growth performance relative to other jurisdictions. Specifically, recipients with housing growth rates at or above the median, or those classified as "extremely high-growth" (with annual growth rates of 4% or more), will receive additional funding. The bonus amount will be calculated using a formula that considers the total number of housing units in the recipient's jurisdiction. The bill also establishes requirements for how housing units will be counted, mandating the use of Census Bureau address files and block-level calculations. The Secretary of Housing and Urban Development (HUD) will be responsible for calculating growth rates, publishing an annual report, and notifying jurisdictions about their performance. The new funding allocation method will take effect in the third full fiscal year after the bill's enactment and remain in place until fiscal year 2043, with the goal of incentivizing increased housing development in urban areas.

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https://www.congress.gov/bill/119th-congress/house-bill/6363/all-info