Innovation Fund Act

This bill would require the Department of Housing and Urban Development (HUD) to create a competitive grant program within one year for cities, counties, local governments, and Indian tribes that have increased their local housing supply. Grants would range from $250,000 to $10 million, with at least 25 grants awarded each year if funding allows, spread across rural, suburban, and urban areas. Grant money could be used for community development, transportation projects, local matching funds for clean water and drinking water programs, and local efforts to expand housing for low- and middle-income households. The bill would authorize $200 million per year for fiscal years 2027 through 2031, adjusted for inflation, and states that HUD may not override local zoning or land use rules.

Full text and official record on Congress.gov

Sponsors

• Elizabeth Warren Democrat sponsor
• 1 cosponsors