SPUR Housing Act
Sponsored By: Senator Sen. Durbin, Richard J. [D-IL]
Introduced
Summary
Funding to help emerging developers build affordable housing. This bill would require HUD to create an Emerging Developer Fund Program that gives competitive grants to nonprofit housing organizations and community development financial institutions to train, lend to, and technically support developers with limited experience or capital.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
New HUD grants for emerging developers
If enacted, HUD would set up an Emerging Developer Fund within one year to give competitive grants. The grants would go to nonprofit housing groups and certified community development financial institutions. Congress would be authorized to appropriate $50 million each year for fiscal years 2026 through 2030. Funds could pay for predevelopment loans, loan loss reserves, grants, risk sharing, interest-rate buydowns, and training. HUD must prioritize groups serving undercapitalized or low-experience developers, track outcomes, and coordinate with Treasury. No single organization could get more than 15 percent of the program's appropriated money.
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Sponsors & CoSponsors
Sponsor
Sen. Durbin, Richard J. [D-IL]
IL • D
Cosponsors
Sen. Rosen, Jacky [D-NV]
NV • D
Sponsored 12/1/2025
Roll Call Votes
No roll call votes available for this bill.
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