119th (2025–2027)
H.R. 7243
The SPUR Housing Act directs the Department of Housing and Urban Development to establish a grant program that helps housing developers offset state and local taxes and impact fees when building new residential projects. Eligible developers must obtain local government approvals and secure commitments from state and local authorities to reduce property taxes on the new housing by at least 50 percent. The HUD Secretary will prioritize grants for projects that increase affordable housing, can begin construction within a year, are located in high-cost housing markets, and serve specific needs like workforce housing or senior-friendly units. Each selected developer can receive an annual grant of up to $150,000 or 50 percent of their total taxes and fees, whichever is lower, for up to five years. The bill authorizes $300 million annually from 2027 through 2031 to fund the program.