Housing Innovation Fund: Grants Reward Local Governments for Increasing Housing Supply.
This Act establishes a new federal grant program designed to reward local governments that successfully increase their housing supply, particularly focusing on homes affordable for middle and lower-income families. The goal is to incentivize local authorities to streamline zoning and regulatory processes, which should lead to lower construction costs and more available housing options. Citizens may benefit from improved access to housing and potentially slower growth in rental and purchase prices.
Key points
Local governments demonstrating growth in new housing units can receive competitive grants up to $10 million for infrastructure and community development projects.
The grants encourage local policy changes, such as allowing denser housing (duplexes, ADUs) and eliminating restrictive requirements like minimum parking mandates.
The program targets increasing the supply of "attainable housing" for households earning up to 80-120% of the area median income.
Status:
Introduced
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