Bill Would Provide $100B in Emergency Rental Assistance
Representatives Maxine Waters (D-CA) and Denny Heck (D-WA), along with 133 House cosponsors, Senator Sherrod Brown (D-OH), and 24 Senate cosponsors, recently introduced the “Emergency Rental Assistance and Rental Market Stabilization Act.” The bill would provide $100 billion in emergency rental assistance to ensure that lower-income households remain stably housed during the coronavirus pandemic.
The proposed act would provide emergency rental assistance to households experiencing homelessness and those at risk. Households at or below 80 percent of area median income (AMI) would be eligible for assistance, with 40 percent of the funds reserved for those below 30 percent AMI. The bill would allow state and local grantees to:
- Provide short- and medium-term rental assistance for up to 24 months;
- Cover up to six months of back rent and late fees; and
- Pay for housing relocation or stabilization activities such as utility deposits and payments, moving costs, and application fees.