To establish a Housing Stabilization Fund to provide emergency housing assistance to extremely low-income renters and homeowners, and for other purposes.
About This Bill
Committee
Latest Action · August 25, 2023
Referred to the House Committee on Financial Services.
The Prevent Homelessness Act of 2023 would create a Housing Stabilization Fund administered by the Department of Housing and Urban Development to provide emergency financial assistance to extremely low-income and very low-income renters and homeowners facing housing crises. The fund would distribute grants to local homeless assistance organizations called continua of care, which would use the money to help families pay rent, utilities, mortgage payments, repair unsafe housing, cover legal fees for eviction cases, and address related needs like mental health services or job counseling. Eligible assistance is capped at eight months of rent or mortgage payments within any twelve-month period, and must be targeted to families experiencing financial hardship due to job loss, unexpected expenses, family crises, or unsafe living conditions. The bill authorizes $100 million annually for fiscal years 2025 through 2029, with funding allocated by formula based on local poverty levels and homelessness rates, and with a competitive component starting in 2026. The program emphasizes prevention and diversion strategies to help people avoid homelessness rather than address it after the fact.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.