This bill authorizes an appropriation of $2,000,000,000 for fiscal year 2025 to provide additional tenant-based rental assistance. This funding aims to address housing affordability needs in specific high-growth areas by supplementing existing voucher programs. The Secretary of Housing and Urban Development would distribute these funds annually to "eligible public housing agencies" based on factors such as local population, the extent of unmet housing affordability needs, and historical shortfalls in previous voucher allocations. An eligible agency must serve an area with a population greater than 100,000 and be among the 25 U.S. areas that experienced the highest population growth between 2012 and 2022. The authorized funds for fiscal year 2025 would also be available for renewals in subsequent fiscal years until expended.
This bill authorizes an appropriation of $2,000,000,000 for fiscal year 2025 to provide additional tenant-based rental assistance. This funding aims to address housing affordability needs in specific high-growth areas by supplementing existing voucher programs. The Secretary of Housing and Urban Development would distribute these funds annually to "eligible public housing agencies" based on factors such as local population, the extent of unmet housing affordability needs, and historical shortfalls in previous voucher allocations. An eligible agency must serve an area with a population greater than 100,000 and be among the 25 U.S. areas that experienced the highest population growth between 2012 and 2022. The authorized funds for fiscal year 2025 would also be available for renewals in subsequent fiscal years until expended.