Housing BOOM Act

This bill would triple the cap on how much federal low-income housing tax credit each State can award, starting with allocations made after 2025. It would create new federal programs and authorize funding for fiscal years 2026 through 2030, including a middle-income housing construction loan fund, a $5 billion-per-year workforce housing block grant to States, a $1 billion-per-year housing accelerator program, and grants to convert hotels, motels, and government buildings into shelters or affordable housing. It would raise funding levels for existing programs such as community development block grants, HOME, rural housing, Indian housing, housing for the elderly and people with disabilities, and homelessness assistance. It would also create a Center for Unhoused Individuals within the federal mental health agency and a grant program for mental and behavioral health services for people experiencing homelessness. Many of the funded construction projects would have to pay local prevailing wages and use registered apprentices for at least 15 percent of labor hours.

Full text and official record on Congress.gov

Sponsors

• Adam B. Schiff Democrat sponsor
• 0 cosponsors