Vote Smart's Synopsis:

Vote to pass a bill that establishes a housing infrastructure fund and appropriates monies therefor.

Highlights:

• Transfers $150 million for housing infrastructure, including $100 million in loans and $50 million in grants (Page 1).

• Transfers $50 million in American Rescue Plan Act monies to Housing Development Authority, “for the purpose of providing grants for the construction of housing infrastructure projects” (Page 1).

• Requires that 30 percent of such monies be used for municipalities with 50,000 or more inhabitants; 70 percent for all other areas (Page 2).

• Establishes Housing Infrastructure Fund (Page 2).

• Limits principal amount of loans to no more than one-third of total project cost (Page 3).

• Requires annual report on Fund (Page 4).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes a housing infrastructure fund and appropriates monies therefor.

Highlights:

• Transfers $150 million for housing infrastructure, including $100 million in loans and $50 million in grants (Page 1).

• Transfers $50 million in American Rescue Plan Act monies to Housing Development Authority, “for the purpose of providing grants for the construction of housing infrastructure projects” (Page 1).

• Requires that 30 percent of such monies be used for municipalities with 50,000 or more inhabitants; 70 percent for all other areas (Page 2).

• Establishes Housing Infrastructure Fund (Page 2).

• Limits principal amount of loans to no more than one-third of total project cost (Page 3).

• Requires annual report on Fund (Page 4).

Full Bill Text