Housing Trust Fund: Fiscal Year 2024 Allocation Notice, 58391 [2024-15783]

Agencies

• DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Federal Register Volume 89, Number 138 (Thursday, July 18, 2024)]
[Notices]
[Page 58391]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-15783]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6482-N-01]


Housing Trust Fund: Fiscal Year 2024 Allocation Notice

AGENCY: Office of the Assistant Secretary for Community Planning and 
Development, HUD.

ACTION: Notice of fiscal year 2024 funding awards.

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SUMMARY: The Housing and Economic Recovery Act of 2008 (HERA) 
established the Housing Trust Fund (HTF) to be administered by HUD. 
Pursuant to the Federal Housing Enterprises Financial Security and 
Soundness Act of 1992 (the Act), as amended by HERA, eligible HTF 
grantees are the 50 states, the District of Columbia, the Commonwealth 
of Puerto Rico, American Samoa, Guam, the Commonwealth of Northern 
Mariana Islands, and the United States Virgin Islands. This notice 
announces the formula allocation amount for each eligible HTF grantee.

FOR FURTHER INFORMATION CONTACT: Virginia Sardone, Director, Office of 
Affordable Housing Programs, Room 7160 Department of Housing and Urban 
Development, 451 Seventh Street SW, Washington, DC 20410-7000; 
telephone (202) 708-2684. (This is not a toll-free number). HUD 
welcomes and is prepared to receive calls from individuals who are deaf 
or hard of hearing, as well as individuals with speech or communication 
disabilities. To learn more about how to make an accessible telephone 
call, please visit https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.

SUPPLEMENTARY INFORMATION: Section 1131 of HERA, Division A amended the 
Act to add a new section 1337 entitled ``Affordable Housing 
Allocations'' and a new section 1338 entitled ``Housing Trust Fund.'' 
Congress authorized the Housing Trust Fund (HTF) with the stated 
purpose of: (1) Increasing and preserving the supply of rental housing 
for extremely low-income families with incomes between 0 and 30 percent 
of area median income and very low-income families with incomes between 
30 and 50 percent of area median income, including homeless families, 
and (2) increasing homeownership for extremely low-income and very low-
income families. Section 1337 of the Act (12 U.S.C. 4567) requires 
Federal National Mortgage Association (Fannie Mae) and Federal Home 
Loan Mortgage Corporation (Freddie Mac) to set-aside 4.2 basis points 
(.042 percent) of the unpaid principal of their new mortgage purchases 
annually to fund the HTF and the Capital Magnet Fund. Each year, 65% of 
the amounts set aside by Fannie Mae and Freddie Mac are then allocated 
to the HTF.
    Section 1338 of the Act (12 U.S.C. 4568) directs HUD to establish, 
through regulation, the formula for the distribution of amounts made 
available for the HTF. The provisions in section 1338(c)(3) of the Act 
(12 U.S.C. 4568(c)(3)) specify the factors to be used for the formula 
and priority for certain factors. The HTF implementing regulations are 
at 24 CFR part 93. The factors and methodology HUD uses to allocate HTF 
funds among eligible grantees are established in the HTF regulation at 
24 CFR 93.50, 93.51, and 93.52.
    The funding announced for Fiscal Year 2024 through this notice is 
$214,112,536.70. Appendix A to this notice provides the HTF allocation 
amount for each grantee.

Maria Claudette Fernandez,
General Deputy Assistant Secretary for Community Planning and 
Development.

Appendix A: FY 2024 Housing Trust Fund Allocation Amounts

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                                                            FY 2024
                       Grantee                            allocation
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1. Alabama..........................................       $3,144,833.37
2. Alaska...........................................        3,144,833.37
3. Arizona..........................................        3,434,122.34
4. Arkansas.........................................        3,000,094.92
5. California.......................................       21,561,035.25
6. Colorado.........................................        3,213,158.50
7. Connecticut......................................        3,144,833.37
8. Delaware.........................................        3,000,094.92
9. District of Columbia.............................        3,144,833.37
10. Florida.........................................        7,297,924.05
11. Georgia.........................................        4,454,124.92
12. Hawaii..........................................        3,144,833.37
13. Idaho...........................................        3,144,833.37
14. Illinois........................................        6,053,256.61
15. Indiana.........................................        3,165,160.77
16. Iowa............................................        3,144,833.37
17. Kansas..........................................        3,144,833.37
18. Kentucky........................................        3,144,833.37
19. Louisiana.......................................        3,144,833.37
20. Maine...........................................        3,144,833.37
21. Maryland........................................        3,215,521.54
22. Massachusetts...................................        4,233,855.37
23. Michigan........................................        4,162,030.20
24. Minnesota.......................................        3,144,833.37
25. Mississippi.....................................        3,144,833.37
26. Missouri........................................        3,153,844.72
27. Montana.........................................        3,144,833.37
28. Nebraska........................................        3,144,833.37
29. Nevada..........................................        3,144,833.37
30. New Hampshire...................................        3,144,833.37
31. New Jersey......................................        5,367,920.02
32. New Mexico......................................        3,144,833.37
33. New York........................................       12,459,948.67
34. North Carolina..................................        9,349,938.86
35. North Dakota....................................        3,144,833.37
36. Ohio............................................        4,676,009.12
37. Oklahoma........................................        3,144,833.37
38. Oregon..........................................        3,193,409.99
39. Pennsylvania....................................        5,276,312.45
40. Rhode Island....................................        3,144,833.37
41. South Carolina..................................        3,144,833.37
42. South Dakota....................................        3,144,833.37
43. Tennessee.......................................        3,150,564.64
44. Texas...........................................        8,605,522.64
45. Utah............................................        3,144,833.37
46. Vermont.........................................        3,144,833.37
47. Virginia........................................        3,838,928.42
48. Washington......................................        4,182,091.31
49. West Virginia...................................        3,144,833.37
50. Wisconsin.......................................        3,257,782.86
51. Wyoming.........................................        3,144,833.37
52. Puerto Rico.....................................          712,713.46
53. America Samoa...................................                   0
54. Guam............................................           49,843.91
55. Northern Marianas...............................           24,268.89
56. Virgin Islands..................................           47,180.18
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    Total...........................................      214,112,536.70
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[FR Doc. 2024-15783 Filed 7-17-24; 8:45 am]
BILLING CODE 4210-67-P