To amend the Housing and Community Development Act of 1974 to revise the formula for allocation of community development block grant funds, and for other purposes.
About This Bill
Committee
Latest Action · May 31, 2024
Referred to the House Committee on Financial Services.
The Community Development Block Grant Equity Act of 2024 changes how federal community development funds are distributed to cities and counties across the United States. Currently, the formula for allocating these grants uses various factors, but this bill revises it to place greater emphasis on poverty rates, housing conditions, and family circumstances. Specifically, the new formula weighs poverty rates five times more heavily than other factors, gives significant weight to old, poorly maintained housing occupied by low-income households, and also considers female-headed households with children and housing overcrowding. The bill authorizes $3.425 billion in funding for fiscal year 2025, with automatic adjustments in subsequent years through 2028 to account for inflation. This change would affect how billions of dollars in federal community development assistance are distributed to metropolitan cities, urban counties, and rural areas, potentially shifting resources toward communities with greater concentrations of poverty and housing challenges.
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