§9058c Emergency Rental Assistance

Summary

The Treasury got $21,550,000,000 for emergency rental help for fiscal year 2021. That money is available until September 30, 2027. The Treasury must set aside $305,000,000 for Puerto Rico, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, and American Samoa; $30,000,000 for Treasury administration and technical help; $3,000,000 for the Treasury Inspector General; and $2,500,000,000 for high-need grantees. After those set-asides, the rest is split to States, the District of Columbia, and units of local government using rules like a related rental program, and some funds are directed to areas with the most need based on very low-income renters paying over half their income for rent or living in bad or crowded housing, local rental costs, and job losses since February 2020. The Treasury must pay at least 40% of each grantee’s allocation within 60 days of March 11, 2021, and pay the rest in later tranches only after a grantee has used at least 75% of money it already received. Starting March 31, 2022, the Treasury can reallocate unpaid money; to get reallocated money a grantee must have obligated 50% of its total allocation. Grantees can only use the funds to help eligible renters. Money can pay rent, past-due rent, utilities, past-due utilities, and other housing costs for up to 18 months total (including help from a related program). Up to 10% can be used for case management and services to keep people housed, and up to 15% can be used for administrative costs and reporting. Any funds still unspent by October 1, 2022 may be used for other affordable rental housing and eviction-prevention work for very low-income families, but only after the grantee has obligated at least 75% of its allocation. Money given to a grantee must remain available through September 30, 2025. Definitions in the law: “eligible grantee” means the 50 States, D.C., units of local government, and the listed territories; “eligible household” means a renter household with COVID-related income loss or unemployment, at risk of losing housing, and low-income; “Inspector General” means the Treasury Inspector General; “Secretary” means the Secretary of the Treasury; and “unit of local government” is as defined in the related program.