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COVID-19 Relief Funds for Low-Income Housing

New rules allow states, territories, tribes, cities, and counties to use COVID-19 relief funds for building or renovating low-income housing. This aims to increase the availability of affordable housing, potentially helping many families find stable homes. These funds must be allocated to long-term housing projects.
Key points
More money for low-income housing: COVID-19 relief funds can now be used to build new or improve existing affordable housing.
Long-term housing support: Funding must be provided as loans with maturities of 30 years or more, ensuring project stability.
Increased accountability and transparency: State and local governments must submit annual reports on fund usage, and repaid funds must be reinvested in affordable housing.
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Additional Information
Print number: 117_S_4181
Sponsor: Sen. Leahy, Patrick J. [D-VT]
Process start date: 2022-05-11