Senate bill expands HOME affordable housing program rules

What does this do?

This bill changes three rules in the federal HOME program, which helps communities fund affordable housing. Small towns and rural areas without certain other federal funding could use HOME money for nearby water lines, sewers, sidewalks, and roads tied directly to affordable housing. It also raises the top sale price a home can have and still count as affordable, from 95% to 110% of the local median purchase price, and creates income rule exceptions for deployed or reassigned military members and for family members who inherit a HOME-assisted home.

Who does it affect?

Small towns and rural areas, military service members who are deployed or permanently reassigned, and family members who inherit a HOME-assisted home are directly affected. Local governments that run HOME program projects would also work under the updated rules.

Why does it matter?

Raising the price limit means homes that cost a little more than before can now qualify as affordable under the program. The military and inheritance exceptions mean fewer people would lose their housing status due to deployment or a family member's death.

Where does it stand?