Sec. 505. Competitive grants
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Title VII ( 25 U.S.C. 4211 et seq. ) is amended by adding at the end the following new section: To the extent amounts are made available pursuant to subsection (d), the Secretary shall make grants under this section, pursuant to a competition for such grants, to eligible recipients of block grants under title I that apply for grants under this section for use only for carrying out eligible affordable housing activities under section 202 ( 25 U.S.C. 4132 ). In awarding grants under this section, the Secretary shall— give priority to projects for construction, and related necessary infrastructure, that will increase the inventory of affordable housing; encourage housing rehabilitation projects that will increase the useful life of existing affordable housing dwelling units and alleviate substandard housing conditions; encourage necessary affordable housing-related infrastructure projects that will enable future construction or rehabilitation; and consider need and administrative capacity of applicants.
Of any amounts made available pursuant to subsection
(d)for any fiscal year, not more than 1 percent may be used by the Secretary for necessary costs of administering and overseeing the obligation and expenditure of amounts made available for grants under this section. There is authorized to be appropriated for grants under this section— $100,000,000 for fiscal year 2025; $105,000,000 for fiscal year 2026; $110,000,000 for fiscal year 2027; $115,000,000 for fiscal year 2028; and $120,000,000 for fiscal year 2029. .
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