S. 2720: Yes in God's Backyard Act

This bill, known as the "Yes in God's Backyard Act," aims to provide technical assistance and grants to faith-based organizations, institutions of higher education, and local governments in order to increase the availability of affordable rental housing. Here is a breakdown of the key components of the bill:

Definitions

The bill defines several important terms, including:

• Affordable rental housing: Housing available to the public where the monthly rent is not more than 30 percent of a household's income.
• At risk of homelessness: Households identified as at risk under specific federal definitions.
• Covered household: A household with an income at or below 100% of the area median income.
• Faith-based organization: Organizations that are religiously oriented and engage in charitable activities.
• Institution of higher education: Colleges, universities, and similar education institutions as defined by relevant laws.

Technical Assistance Program

The Secretary of Housing and Urban Development (HUD) will establish a program to offer technical assistance aimed at:

• Helping faith-based organizations and educational institutions remove barriers to develop and preserve affordable rental housing.
• Providing resources and information on how to effectively utilize excess property owned by these organizations for affordable housing.
• Offering guidance on best practices for housing development, preservation, and ensuring access in areas with better resources.

Grants for Affordable Housing

The bill also establishes a Challenge Grant program that allows eligible entities (like local governments or states) to apply for competitive grants aimed at:

• Removing barriers to affordable housing development and preservation on properties owned by faith-based organizations.
• Producing or preserving various types of affordable rental housing, especially for low-income families, homeless individuals, and those at risk of homelessness, including veterans.
• Increasing accessible housing options for individuals with disabilities and addressing the needs of other special populations.

Funding Provisions

The bill authorizes significant funding for these initiatives:

• Technical Assistance Program: $25 million for fiscal year 2026 and $10 million annually from fiscal years 2027 through 2031.
• Challenge Grants: $50 million per year from 2026 through 2031 for grantees implementing housing projects.

Implementation and Oversight

The bill mandates that resources and guidance developed under the program be made publicly accessible. Additionally, the Secretary must consult with relevant federal agencies and make provisions to monitor and evaluate the performance of funded projects.

Relevant Companies

None found.