American Rescue Plan. Last week, President Biden signed the American Rescue Plan into law. In addition to comprehensive COVID-19 relief, including stimulus checks, extension of unemployment insurance, funding for schools and vaccine distribution, and direct aid to state and local governments, the legislation includes more than $42.5 billion in funding for affordable housing programs.
- Emergency Rental Assistance. The new package includes funding to continue emergency rental assistance programs launched through the December relief package. New Hampshire is eligible to receive up to $152 million in additional funds. The deadline for spending these funds is September 20, 2025. The bill also extended the spend deadline for the prior appropriation ($200 million for New Hampshire) to September 30, 2022.
- Homeowner Assistance Fund. The next package creates a new program for the purpose of preventing homeowner mortgage delinquencies, defaults, foreclosures, loss of utilities or home energy services, and displacements of homeowners experiencing financing hardship. New Hampshire is expected to receive $50 million or more for the new program.
- Homeless Services and Supportive Services. The new package addresses the needs related to homeless and supportive housing services through the HOME program. Eligible uses include supportive services, transitional housing, housing counseling, and homeless prevention services, as well as the acquisition and development of non-congregate shelter units. The allocation is based on the HOME formula that has traditionally provided $3 to $4 million to New Hampshire.
- Other Programs. Other housing resources in the bill include emergency housing vouchers, rental assistance for USDA-RD properties, housing counseling, relief measures for Section 502 and Section 504 direct loan borrowers, and funding for the Fair Housing Initiatives Program.