Sec. 101. Public housing investments
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In addition to amounts otherwise made available, there is appropriated to the Secretary of Housing and Urban Development (in this section referred to as the Secretary ) for fiscal year 2026, out of any money in the Treasury not otherwise appropriated— $10,000,000,000, to remain available until September 30, 2033, for the Capital Fund under section 9(d) of the United States Housing Act of 1937 ( 42 U.S.C. 1437g(d) ) pursuant to the same formula as in fiscal year 2021, to be made available within 60 days of the date of the enactment of this Act; $53,000,000,000, to remain available until September 30, 2028, for eligible activities under section 9(d)(1) of the United States Housing Act of 1937 ( 42 U.S.C. 1437g(d)(1) ) for priority investments as determined by the Secretary to repair, replace, or construct properties assisted under such section 9; $1,200,000,000, to remain available until September 30, 2028, for competitive grants under section 24 of the United States Housing Act of 1937 ( 42 U.S.C. 1437v ) (in this section referred to as section 24 ), under the terms and conditions in subsection (b), for transformation, rehabilitation, and replacement housing needs of public and assisted housing, and to transform neighborhoods of poverty into functioning, sustainable mixed-income neighborhoods; $750,000,000, to remain available until September 30, 2033, for the costs to the Secretary of administering and overseeing the implementation of this section and the Public Housing Capital Fund and the section 24 grant program generally, including information technology, financial reporting, research and evaluation, other cross-program costs in support of programs administered by the Secretary in this title, and other costs; and $50,000,000, to remain available until September 30, 2033, to make new awards or increase prior awards to existing technical assistance providers to provide an increase in capacity building and technical assistance available to entities eligible for funding for activities or projects consistent with this section.
Grants awarded under subsection (a)(3) shall be subject to terms and conditions determined by the Secretary, which shall include the following: Grant funds may be used for resident and community services, community development and revitalization, and affordable housing needs in the community. Eligible recipients of grants shall include lead applicants and joint applicants, as follows: A lead applicant shall be a local government, a public housing agency, or an owner of an assisted housing property.
A nonprofit organization or a for-profit developer may apply jointly as a joint applicant with such public entities specified in subparagraph (A). A local government must be a joint applicant with an owner of an assisted housing property specified in subparagraph (A). Grantees shall commit to a period of affordability determined by the Secretary of not fewer than 20 years, but the Secretary may specify a period of affordability that is fewer than 20 years with respect to homeownership units developed with section 24 grants.
For purposes of environmental review, a grantee shall be treated as a public housing agency under section 26 of the United States Housing Act of 1937 ( 42 U.S.C. 1437x ). Amounts made available under this section shall be used for low-income housing (as such term is defined under section 3(b) of the United States Housing Act of 1937 ( 42 U.S.C. 1437a(b) )), HUD-assisted housing, and affordable housing, which shall be housing for which the owner of the project shall record an affordability use restriction approved by the Secretary for households earning up to 120 percent of the area median income and is subject to the period of affordability under paragraph
(3)of this subsection. Grants awarded under this section shall be subject to the following terms and conditions: Amounts provided pursuant to this section may not be used for operating costs or rental assistance. Paragraph
(3)of section 9(g) of the United States Housing Act of 1937 ( 42 U.S.C. 1437g(g)(3) ) shall not apply to new funds made available under this section. Amounts made available under this section shall be used to address health, safety, and environmental hazards, including lead, fire, carbon monoxide, mold, asbestos, radon, pest infestation, and other hazards as defined by the Secretary. Amounts made available under this section shall advance improvements to energy and water efficiency or climate and disaster resilience in housing assisted under this section. If the Secretary recaptures funding allocated by formula from a public housing agency under subsection (a)(1), such recaptured amounts shall be added to the amounts available under subsection (a)(2), and shall be obligated by the Secretary prior to the expiration of such funds. The Secretary shall ensure that amounts provided pursuant to this section shall serve to supplement and not supplant other amounts generated by a recipient of such amounts or amounts provided by other Federal, State, or local sources. The Secretary shall have authority to issue such regulations or notices, or other guidance, forms, instructions, and publications to carry out the programs, projects, or activities authorized under this section to ensure that such programs, projects, or activities are completed in a timely and effective manner.
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