ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 3332, Manufactured Housing Community Preservation Act of 2021   [open pdf - 153KB]

This is the Congressional Budget Office [CBO] Cost Estimate as ordered reported by the House Committee on Financial Services on July 29, 2021. From the Document: "H.R. 3332 would authorize the appropriation of $100 million annually over the 2022-2026 period for grants to public housing authorities and nonprofit organizations to acquire communities of manufactured housing. Grantees would be required to own and maintain the housing for a period of 30 years and annual rent increases would be limited. The bill also would require the Secretary of Housing and Urban Development to report information about program outcomes to the Congress. For this estimate, CBO assumes that the legislation will be enacted in 2022 and that the authorized amounts will be appropriated each year. Based on the historical spending patterns for similar programs, CBO estimates implementing the housing program would cost $180 million over the 2022-2026 period; the remaining funds would be spent after 2026. Using information on the cost of similar requirements, CBO estimates that meeting the reporting requirement would cost less than $500,000 over the 2022-2026 period; such spending would be subject to the availability of appropriated funds."

Publisher:
Date:
2022-02-09
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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