ant to that same formula in fiscal year 2023 
and shall make such allocations within 60 days 
of the date of the enactment of this Act. 
(2) ELIGIBLE ACTIVITIES.—Other than as pro-
vided in paragraph (5) of this subsection, funds 
made available under subsection (a)(2) may only be 
used for eligible activities described in subpara-
graphs (A) through (B)(i) of section 1338(c)(7) of 
the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992 (12 U.S.C. 4568(c)(7)), 
except that not more than 10 percent of funds made 
available may be used for activities under such sub-
paragraph (B)(i). 
(3) FUNDING
RESTRICTIONS.—The commit-
ment requirements in section 218(g) (42 U.S.C. 
12748(g)) of NAHA, the matching requirements in 
section 220 (42 U.S.C. 12750) of NAHA, and the 
set-aside for housing developed, sponsored, or owned 
by community housing development organizations re-
quired in section 231 of NAHA (42 U.S.C. 12771) 
shall not apply for amounts made available under 
this section. 
(4) REALLOCATION.—For funds provided under 
paragraphs (1) and (2) of subsection (a), the Sec-
retary may recapture certain amounts remaining 
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available to a grantee under this section or amounts 
declined by a grantee, and reallocate such amounts 
to other grantees under that paragraph to ensure 
fund expenditure, geographic diversity, and avail-
ability of funding to communities within the State 
from which the funds have been recaptured. 
(5) ADMINISTRATION.—Notwithstanding sub-
sections (c) and (d)(1) of section 212 of NAHA (42 
U.S.C. 12742), grantees may use not more than 15 
percent of their allocations under this section for ad-
ministrative and planning costs. 
(c) IMPLEMENTATION.—The Secretary shall have au-
thority to issue such regulations, notices, or other guid-
ance, forms, instructions, and publications to carry out the 
programs, projects, or activities authorized under this sec-
tion to ensure that such programs, projects, or activities 
are completed in a timely and effective manner. 
SEC. 103. HOUSING INVESTMENT FUND. 
(a) APPROPRIATION.—In addition to amounts other-
wise available, there is appropriated for fiscal year 2024, 
out of any money in the Treasury not otherwise appro-
priated, to remain available until September 30, 2028— 
(1) $740,000,000 to the Department of the 
Treasury to establish the Housing Investment Fund 
established by this section within the Community 
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Development Financial Institutions Fund (in this 
section referred to as the ‘‘CDFI Fund’’) to make 
grants to increase investment in the development, 
preservation, rehabilitation, financing, or purchase 
of affordable housing primarily for low-, very-low, 
and extremely low-income families who are renters, 
and for homeowners with incomes up to 120 percent 
of the area median income, and for economic devel-
opment and community facilities related to such 
housing and to further fair housing; and 
(2) $10,000,000 for the costs to the CDFI 
Fund of administering and overseeing the implemen-
tation of this section, including information tech-
nology, financial reporting, research and evaluations, 
and other costs. 
(b) ELIGIBLE GRANTEES.—A grant under this sec-
tion may be made, pursuant to such requirements as the 
CDFI Fund shall establish, only to— 
(1) a CDFI Fund certified community develop-
ment financial institution, as such term is defined in 
section 103 of the Riegle Community Development 
and Regulatory Improvement Act of 1994 (12 
U.S.C. 4702); 
(2) a nonprofit organization having as one of its 
principal purposes the creation, development, or 
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preservation of affordable housing, including a sub-
sidiary of a public housing authority; or 
(3) a consortium comprised of certified commu-
nity development financial institutions, eligible non-
profit housing organizations, or a combination of 
both. 
(c) ELIGIBLE
USES.—Eligible uses for grant 
amounts awarded from the Housing Investment Fund 
pursuant to this section shall— 
(1) be reasonably expected to result in eligible 
affordable housing activities that support or sustain 
affordable housing funded by a grant under this sec-
tion and capital from other public and private 
sources; and 
(2) include activities— 
(A) to provide loan loss reserves; 
(B) to capitalize an acquisition fund to ac-
quire residential, industrial, or commercial 
property and land for the purpose of the preser-
vation, development, or rehabilitation of afford-
able housing, including to support the creation, 
preservation, or rehabilitation of resident-owned 
manufactured housing communities; 
(C) to capitalize an affordable housing 
fund, for development, preservation, rehabilita-
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tion, or financing of affordable housing and eco-
nomic development activities, including commu-
nity facilities, if part of a mixed-use project, or 
activities described in this paragraph related to 
transit-oriented development, which may also be 
designated as a focus of such a fund; 
(D) to capitalize an affordable housing 
mortgage fund, to facilitate the origination of 
mortgages to buyers that may experience sig-
nificant barriers to accessing affordable mort-
gage credit, including mortgages having low 
original principal obligations; 
(E) for risk-sharing loans; 
(F) to provide loan guarantees; and 
(G) to fund rental housing operations. 
(d) IMPLEMENTATION.—The CDFI Fund shall have 
the authority to issue such regulations, notice, or other 
guidance, forms, instructions, and publications to carry 
out the programs, projects, or activities authorized under 
this section to ensure that such programs, projects, or ac-
tivities are completed in a timely and effective manner. 
SEC. 104. SECTION 811 SUPPORTIVE HOUSING FOR PEOPLE 
WITH DISABILITIES. 
(a) APPROPRIATION.—In addition to amounts other-
wise available, there is appropriated to the Secretary of 
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Housing and Urban Development (in this section referred 
to as the ‘‘Secretary’’) for fiscal year 2024, out of any 
money in the Treasury not otherwise appropriated— 
(1) $450,000,000 for capital advances, includ-
ing amendments to capital advance contracts, for 
supportive housing for persons with disabilities, as 
authorized by section 811(b)(2) of the Cranston- 
Gonzalez National Affordable Housing Act (42 
U.S.C. 8013(b)(2)) (in this section referred to as the 
‘‘Act’’), and subject to subsections (a) through 
(h)(4), (h)(6) through (i)(1)(C), and (i)(2) through 
(m) of such section 811 (42 U.S.C. 8013(a)–42 
U.S.C. 8013(h)(4), 42 U.S.C. 8013(h)(6)–42 U.S.C. 
8013(i)(1)(C), 42 U.S.C. 8013(i)(2)–42 U.S.C. 
8013(m)), and for project rental assistance for sup-
portive housing for persons with disabilities under 
section 811(d)(2) of the Act and for project assist-
ance contracts pursuant to section 202(h) of the 
Housing Act of 1959 (Public Law 86–372; 73 Stat. 
667), for project rental assistance to State housing 
finance agencies and other appropriate entities as 
authorized under section 811(b)(3) of the Act, for 
State housing finance agencies; 
(2) $7,500,000 for providing technical assist-
ance to support State-level efforts to integrate hous-
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ing assistance and voluntary supportive services for 
residents of housing receiving such assistance, which 
funding may also be used to provide technical assist-
ance to applicants and potential applicants to under-
stand program requirements and develop effective 
applications, and the Secretary may use amounts 
made available under this paragraph to increase 
prior awards to existing technical assistance pro-
viders to provide an immediate increase in capacity 
building and technical assistance; and 
(3) $42,500,000 for the costs to the Secretary 
of administering and overseeing the implementation 
of this section and the Supportive Housing for Per-
sons with Disabilities program generally, including 
information technology, financial reporting, research 
and evaluations, other cross-program costs in sup-
port of programs administered by the Secretary in 
this title, and other costs. 
Amounts appropriated by this section shall remain avail-
able until September 30, 2033. 
(b) LIMITATIONS ON COSTS.—When awarding grants 
under paragraph (1) of subsection (a), the Secretary shall 
establish and assess reasonable development cost limita-
tions by market area for various types and sizes of sup-
portive housing for persons with disabilities. The Sec-
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retary shall not count owner or sponsor contributions of 
other funding or assistance against the overall cost of a 
project. 
(c) OCCUPANCY STANDARDS.—The owner or sponsor 
of housing assisted with funds provided under this section 
may, with the approval of the Secretary, limit occupancy 
with the housing to persons with disabilities who can ben-
efit from the supportive services offered in connection with 
the housing. 
(d) IMPLEMENTATION.—The Secretary shall have au-
thority to issue such regulations, notices, or other guid-
ance, forms, instructions, and publications to carry out the 
programs, projects, or activities authorized under this sec-
tion to ensure that such programs, projects, or activities 
are completed in a timely and effective manner. 
SEC. 105. SECTION 202 SUPPORTIVE HOUSING FOR THE EL-
DERLY PROGRAM. 
(a) APPROPRIATION.—In addition to amounts other-
wise available, there is appropriated to the Secretary of 
Housing and Urban Development (in this section referred 
to as the ‘‘Secretary’’) for fiscal year 2024, out of any 
money in the Treasury not otherwise appropriated— 
(1) $450,000,000 for the Supportive Housing 
for the Elderly Program authorized under section 
202 of the Housing Act of 1959, and subject to sub-
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sections (a) through (g), (h)(2) through (h)(5), and 
(i) through (m) of such section 202 (12 U.S.C. 
1701q(a)–12 
U.S.C. 
1701q(g), 
U.S.C. 
1701q(h)(2)–12 U.S.C. 1701q(h)(5), 12 U.S.C. 
1701q(i)–12 U.S.C. 1701q(m)) (in this section re-
ferred to as the ‘‘Act’’), which shall be used— 
(A) for capital advance awards in accord-
ance with section 202(c)(1) of the Act to recipi-
ents that are eligible under the Act; 
(B) for new section 8 project-based rental 
assistance contracts under section 8(b) of the 
United States Housing Act of 1937 Act (42 
U.S.C. 1437f(b)), subject to subsection (c) of 
this section, with the Secretary setting the 
terms of such project-based rental assistance 
contracts, including the duration and provisions 
regarding rent setting and rent adjustment, to 
support the capital advance projects funded 
under this section; and 
(C) for service coordinators; 
(2) $7,500,000, to provide technical assistance 
to support State-level efforts to improve the design 
and delivery of voluntary supportive services for resi-
dents of any housing assisted under the Act and 
other housing supporting low-income older adults, in 
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order to support residents to age-in-place and avoid 
institutional care, as well as to assist applicants and 
potential applicants with project-specific design, and 
the Secretary may use amounts made available 
under this paragraph to increase prior awards to ex-
isting technical assistance providers to provide an 
immediate increase in capacity building and tech-
nical assistance; and 
(3) $42,500,000 for the costs to the Secretary 
of administering and overseeing the implementation 
of this section and the Supportive Housing for the 
Elderly program generally, including information 
technology, financial reporting, research and evalua-
tion, other cross-program costs in support of pro-
grams administered by the Secretary in this title, 
and other costs. 
Amounts appropriated by this section shall remain avail-
able until September 30, 2033. 
(b) LIMITATION ON COSTS.—When awarding grants 
under paragraph (1) of subsection (a), the Secretary shall 
establish and assess reasonable development cost limita-
tions by market area for various types and sizes of sup-
portive housing for the elderly. The Secretary shall not 
count owner or sponsor contributions of other funding or 
assistance against the overall cost of a project. 
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