This legislation would reduce and streamline regulatory and statutory requirements for participating housing authorities. The program would maximize the efficient use of funds received by a housing authority. By not restricting the use of appropriated funds to one narrow purpose (e.g., operating costs or modernization costs), housing authorities would be able to address local needs which may differ from locality to locality. It would also authorize innovative program design on issues such as rent calculation, to reduce the administrative burden and cost on the housing authority, and to lighten the burden on tenants to produce the personal information often necessary to document income and exclusions.
A second piece of this initiative is included separately in the housing bond bill as a $50 million ($10 million annually) 5-year mixed-finance demonstration program.
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