Housing BOOM Act

The Housing BOOM Act (S 3464) authorizes billions of dollars in new funding to increase affordable housing supply and combat homelessness through expanded programs. It increases funding for housing credit programs, community development block grants, workforce housing, and supportive housing for vulnerable populations, with specific requirements that construction projects must use 15% of labor hours by qualified apprentices and follow prevailing wage standards. The bill creates new initiatives like the Housing Accelerator Program, the Office of Eviction Prevention, and the Interagency Council on Housing Affordability. It directly affects low and middle-income households, housing developers, public housing agencies, and local governments through new funding streams and program requirements.