SEC. 2. COMPETITIVE GRANT PROGRAM TO SUPPORT 
WORKFORCE HOUSING UNITS. 
(a) DEFINITIONS.—In this section: 
(1) AFFORDABLE.—The term ‘‘affordable’’, 
with respect to a workforce housing unit, means that 
the total housing costs for the unit do not exceed 30 
percent of the income of the buyer of the workforce 
housing unit. 
(2) APPROPRIATE
CONGRESSIONAL
COMMIT-
TEES.—The term ‘‘appropriate congressional com-
mittees’’ means— 
(A) the Committee on Banking, Housing, 
and Urban Affairs of the Senate; and 
(B) the Committee on Financial Services 
of the House of Representatives. 
(3) DWELLING.—The term ‘‘dwelling’’ means 
any building, structure, or portion thereof that is oc-
cupied as, or designed or intended for occupancy as, 
a residence by 1 or more individuals. 
(4) ELIGIBLE ENTITY.—The term ‘‘eligible enti-
ty’’ means— 
(A) a State or unit of local government; 
(B) a nonprofit housing developer; 
(C) an agency or instrumentality of a 
State; 
(D) a public housing agency; 
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(E) a community development financial in-
stitution, as defined in section 103 of the Com-
munity Development Banking and Financial In-
stitutions Act of 1994 (12 U.S.C. 4702); 
(F) a resident-owned community; and 
(G) any other entity that supports housing 
development, as determined by the Secretary. 
(5) FIRST-TIME HOMEBUYER.—The term ‘‘first- 
time homebuyer’’ has the meaning given the term in 
section 104 of the Cranston-Gonzalez National Af-
fordable Housing Act (42 U.S.C. 12704). 
(6) NONPROFIT
HOUSING
DEVELOPER.—The 
term ‘‘nonprofit housing developer’’ means a non-
profit organization having as one of its principal 
purposes the creation, development, or preservation 
of housing, including a subsidiary of a public hous-
ing agency. 
(7) PROGRAM.—The term ‘‘Program’’ means 
the grant program established under this section. 
(8) PUBLIC
HOUSING
AGENCY; STATE.—The 
terms ‘‘public housing agency’’ and ‘‘State’’ have the 
meanings given those terms in section 3(b) of the 
United States Housing Act of 1937 (42 U.S.C. 
1437a(b)). 
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(9) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Housing and Urban Development. 
(10) TOTAL HOUSING COSTS.—The term ‘‘total 
housing costs’’ means mortgage principal and inter-
est, taxes, and insurance. 
(11) WORKFORCE HOUSING UNIT.—The term 
‘‘workforce housing unit’’ means a 1- to 4-unit 
dwelling— 
(A) that is the primary residence of the 
buyer; 
(B) in which none of the units are rented; 
and 
(C) that is affordable to buyers with in-
comes of not more than 100 percent of the area 
median income. 
(b) ESTABLISHMENT.—The Secretary shall establish 
a competitive grant program to award grants to eligible 
entities to increase the supply of affordable workforce 
housing units. 
(c) USE OF FUNDS.—A recipient of a grant under 
the Program shall use grant funds for the construction, 
preservation, or rehabilitation of workforce housing units, 
which shall remain affordable for a period of not less than 
5 years from the sale of the workforce housing unit. 
(d) APPLICATION AND SELECTION PROCESS.— 
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(1) APPLICATION.—An eligible entity desiring a 
grant under the Program shall submit to the Sec-
retary an application at such time, in such manner, 
and containing— 
(A) a description of the construction, pres-
ervation, or rehabilitation projects to be sup-
ported by the grant; and 
(B) any additional information as the Sec-
retary may require. 
(2) SELECTION OF GRANTEES.— 
(A) IN GENERAL.—The Secretary shall es-
tablish criteria to award grants under the Pro-
gram on a competitive basis, which may include 
consideration of whether— 
(i) the median price of workforce 
housing units in the area to be served by 
the grant is increasing; 
(ii) the supply of available workforce 
housing units in the area to be served by 
the grant is decreasing; and 
(iii) whether employers in the area to 
be served by the grant are struggling to re-
cruit employees due to the lack of afford-
able housing options. 
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(B) 
PRIORITY.—The 
Secretary 
shall 
prioritize awarding grants to eligible entities 
that demonstrate a lack of affordable workforce 
housing units in the area to be served by the 
grant. 
(e) REPORT TO CONGRESS.—Not later than 1 year 
after the date of enactment of this Act, and each year 
thereafter, the Secretary shall submit to the appropriate 
congressional committees a report on the implementation 
of the Program, which shall include— 
(1) a list of grant recipients and the amount 
awarded to each grant recipient; 
(2) a description of the projects assisted using 
grant funds, including the number of affordable 
workforce housing units created, preserved, and re-
habilitated under the Program; 
(3) a description of the households that pur-
chased homes assisted under the Program, including 
the number of first-time homebuyers; and 
(4) any other metrics that the Secretary deter-
mines necessary. 
(f) WORKFORCE HOUSING DEVELOPMENT FUND.— 
(1) IN GENERAL.—There is established in the 
Treasury a fund to be known as the ‘‘Workforce 
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Housing Development Fund’’ to carry out the Pro-
gram. 
(2) AUTHORIZATION
OF
APPROPRIATIONS.— 
There is authorized to be appropriated and deposited 
into the fund established under paragraph (1) such 
sums as may be necessary for fiscal year 2024 and 
each fiscal year thereafter. 
Æ 
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