,,ii #aaith ,,congress #ast ,session ,s4 #bdda ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #bd1 #bjbe,mr4 ,kennedy 7for himself and ,ms4 ,warren7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to provide for adjustments to community development block grant allocations based on improvements in housing growth rates4 #a4 ,short title ,this ,act may be cited as the ,build ,now ,act of #bjbe4 #b4 ,definitions ,in this ,act3 7#a7 ,covered recipient ,the term covered recipient means a metropolitan city or urban county1 as those terms are defined in section #ajb of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecjb71 that receives funds under section #ajf4 7#b7 ,current annual growth rate ,the term current annual growth rate1 with respect to an eligible recipient and a fiscal year1 means the average annual percentage increase in the number of housing units in the jurisdiction of the eligible recipient1 as calculated by the ,secretary1 during the period-- 7,a7 beginning with the third quarter of the sixth preceding fiscal year2 and 7,b7 ending with the third quarter of the preceding fiscal year4 7#c7 ,eligible recipient ,the term eligible recipient means any covered recipient unless-- 7,a7 7i7 the median ,small ,area ,fair ,market ,rent in the jurisdiction of the covered recipient is at or below the #fjth percentile of median ,small ,area ,fair ,market ,rents in the jurisdictions of all covered recipients2 and 7ii7 the median home value in the jurisdiction of the covered recipient is below the median home value for the ,united ,states2 7,b7 the annual natural rental vacancy rate in the jurisdiction of the covered recipient is greater than the national annual natural rental vacancy rate for the most recent year available1 as published by the ,bureau of the ,census2 7,c7 during the #a-year period preceding the date on which the ,secretary allocates funds under section #ajf1 the jurisdiction of the covered recipient has been the subject of a major disaster or emergency declaration under section #dja or #eja1 respectively1 of the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act 7#db ,u4,s4,c4 #eagj1 #eaia72 or 7,d7 the covered recipient lacks the legal authority to enact or update zoning and permitting ordinances4 7#d7 ,extremely high-growth recipient ,the term extremely high-growth recipient means an eligible recipient for which the current annual growth rate is at or above #d percent4 7#e7 ,housing growth improvement rate ,the term housing growth improvement rate1 with respect to an eligible recipient and a fiscal year1 means the quotient of-- 7,a7 the current annual growth rate of the eligible recipient2 and 7,b7 the prior annual growth rate of the eligible recipient4 7#f7 ,prior annual growth rate ,the term prior annual growth rate1 with respect to an eligible recipient and a fiscal year1 means the average annual percentage increase in the number of housing units in the jurisdiction of the eligible recipient1 as calculated by the ,secretary1 during the period-- 7,a7 beginning with the third quarter of the #aath preceding fiscal year2 and 7,b7 ending with the third quarter of the sixth preceding fiscal year4 7#g7 ,secretary ,the term ,secretary means the ,secretary of ,housing and ,urban ,development4 7#h7 ,section #ajf ,the term section #ajf means section #ajf of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecjf74 #c4 ,adjustments to community development block grant allocations 7a7 ,in general ,in allocating amounts to an eligible recipient under section #ajf for a fiscal year1 the ,secretary shall adjust the allocation based on the housing growth improvement rate of the eligible recipient1 in accordance with subsection 7b7 of this section4 7b7 ,adjustments 7#a7 ,housing growth improvement rate at or above median2 extremely high-growth recipients 7,a7 ,in general ,if1 with respect to a fiscal year for which the allocation under section #ajf is being determined1 the housing growth improvement rate for an eligible recipient is at or above the median housing growth improvement rate for all eligible recipients other than extremely high-growth recipients1 or if an eligible recipient is an extremely high-growth recipient1 the ,secretary shall allocate to the eligible recipient for that fiscal year1 in addition to the amount that would otherwise be allocated to the eligible recipient under section #ajf1 a bonus amount1 as determined under subparagraph 7,b7 of this paragraph4 7,b7 ,bonus amount ,for purposes of subparagraph 7,a71 the bonus amount for an eligible recipient for a fiscal year shall be equal to the product of-- 7i7 the aggregate amount by which allocations to eligible recipients are decreased under paragraph 7#b7 for that fiscal year2 and 7ii7 the quotient of-- 7,i7 the number of housing units1 as of the third quarter of the preceding fiscal year1 in the jurisdiction of the eligible recipient1 as calculated by the ,secretary2 and 7,,ii7 the number of housing units1 as of the third quarter of the preceding fiscal year1 in the jurisdictions of all eligible recipients that receive a bonus amount under this paragraph1 as calculated by the ,secretary4 7#b7 ,housing growth improvement rate below median ,if1 with respect to a fiscal year for which the allocation under section #ajf is being determined1 the housing growth improvement rate for an eligible recipient is below the median housing growth improvement rate for all eligible recipients other than high-growth outliers1 the ,secretary shall decrease the amount that would otherwise be allocated to the eligible recipient under section #ajf for that fiscal year by #aj percent4 #d4 ,calculation of housing units 7a7 ,,hud requirements ,in calculating the number of housing units in the jurisdiction of an eligible recipient under any provision of this ,act1 the ,secretary shall-- 7#a7 use the ,current ,address ,count ,listing ,files and other data products1 as needed1 of the ,bureau of the ,census tabulated from the ,master ,address ,file2 and 7#b7 make calculations at the block level1 using boundaries that reflect the most current boundaries4 7b7 ,census ,bureau and ,postal ,service ,requirements ,the ,bureau of the ,census and the ,united ,states ,postal ,service shall provide any relevant data to the ,secretary upon request to assist the ,secretary in making a calculation described in subsection 7a74 7c7 ,adjustment of calculation periods ,the ,secretary may adjust the calculation periods under subparagraphs 7,a7 and 7,b7 of section #b7b71 subparagraphs 7,a7 and 7,b7 of section #b7f71 and subclauses 7,i7 and 7,,ii7 of section #c7;b77#a77;,b77ii7 by not more than #b months to achieve alignment with the data provided by the ,bureau of the ,census4 #e4 ,annual report on housing growth improvement rate ,before allocating funds under section #ajf for a fiscal year1 the ,secretary shall publish a report that-- 7#a7 includes the housing growth improvement rate for each eligible recipient2 and 7#b7 lists1 for the most recent fiscal year for which allocations were made under section #ajf-- 7,a7 the eligible recipients that received a bonus amount under section #c7;b77#a72 and 7,b7 the eligible recipients for which the allocation under section #ajf was decreased under section #c7;b77#b7 of this ,act4 #f4 ,notification2 implementation dates 7a7 ,notification 7#a7 ,in general ,not later than #fj days after the date of enactment of this ,act1 the ,secretary shall notify each eligible recipient of the recipient's housing growth improvement rate and whether that housing growth improvement rate is above1 at1 or below the median housing growth improvement rate for all eligible recipients other than extremely high-growth recipients4 7#b7 ,guidance ,as part of the notification under paragraph 7#a71 the ,secretary shall share guidance1 including resources developed by the ,department of ,housing and ,urban ,development1 on best practices and recommendations on policies to reduce regulatory barriers to housing and increase housing supply4 7b7 ,implementation dates ,section #c shall take effect beginning with the second full fiscal year after the date of enactment of this ,act and remain in effect through fiscal year #bjdb4