CDBG Modernization Act of 2022

Hozzl · 2022-12-30T00:18:40Z

Explore the details of House Bill 7868 CDBG Modernization Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Housing and Community Development. Stay informed on legislative developments.

12/30/2022, 12:18 AM

Summary of Bill HR 7868

Bill 117 HR 7868, also known as the CDBG Modernization Act of 2022, aims to update and improve the Community Development Block Grant (CDBG) program. The CDBG program provides funding to state and local governments to support community development activities such as affordable housing, infrastructure improvements, and economic development projects.

The key provisions of the bill include increasing funding for the CDBG program, streamlining the application process for grant recipients, and expanding the types of projects that are eligible for funding. The bill also includes measures to increase transparency and accountability in the use of CDBG funds, such as requiring grant recipients to report on the outcomes of their projects and undergo regular audits.

Overall, the CDBG Modernization Act of 2022 seeks to make the CDBG program more effective and efficient in supporting community development efforts across the country. It has received bipartisan support in Congress and is seen as a positive step towards revitalizing and strengthening communities in need.

Congressional Summary of HR 7868

CDBG Modernization Act of 2022

This bill sets out a process to revise the formulas used to allocate certain funding through the Community Development Block Grant, which supports states and local governments with neighborhood revitalization, housing rehabilitation, and community economic development efforts.

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Current Status of Bill HR 7868

Bill HR 7868 is currently in the status of Bill Introduced since May 24, 2022. Bill HR 7868 was introduced during Congress 117 and was introduced to the House on May 24, 2022. Bill HR 7868's most recent activity was Referred to the House Committee on Financial Services. as of May 24, 2022

Bipartisan Support of Bill HR 7868

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 7868

Primary Policy Focus

Housing and Community Development

Alternate Title(s) of Bill HR 7868

CDBG Modernization Act of 2022

To modernize the formulas for allocation of Community Development Block Grant Program grants for entitlement communities to more effectively target such amounts for community development needs, and for other purposes.