To facilitate the development of fair and affordable housing, decrease housing costs, and for other purposes.
About This Bill
Committee
Latest Action · June 21, 2023
Referred to the Committee on Appropriations, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
# Housing Crisis Response Act of 2023
This bill authorizes approximately $150 billion in new federal spending to address housing affordability and construction. The legislation creates multiple programs to increase the supply of affordable housing, help renters and homebuyers, and revitalize distressed communities.
**Key provisions include:** Over $64 billion for public housing repairs and construction; nearly $25 billion for affordable rental housing production through grants and loans; $15 billion in rental vouchers for extremely low-income families and people experiencing homelessness; and $10 billion specifically for first-generation homebuyer down payment assistance. The bill also funds home repairs and energy efficiency improvements in affordable housing, lead hazard abatement, fair housing enforcement, and community development initiatives.
**Who it affects:** Low-income renters and homebuyers, public housing residents, people with disabilities, elderly individuals, Native American communities, rural residents, and distressed neighborhoods. The bill targets assistance toward communities with high poverty rates, displacement risk, and vacant properties.
**Funding and timelines:** Most programs fund activities through 2028-2033, with allocations distributed starting within 60 days of enactment. Money supports both competitive grants and formula-based allocations to states and local governments. The bill also establishes new accessibility standards requiring that at least 10 percent of multifamily units accommodate people with mobility disabilities, effective one year after passage.
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