Supporting Projects to Unleash Residential Housing Act; SPUR Housing Act
Summary
The SPUR Housing Act aims to address housing shortages by providing grants to developers. These grants would offset state and local taxes and impact fees associated with building housing developments. The Secretary of Housing and Urban Development (HUD) would administer the grant program, prioritizing projects that increase affordable housing and meet other criteria.
Expected Effects
If enacted, the SPUR Housing Act could lead to an increase in housing development, particularly affordable housing. It could also incentivize state and local governments to reduce property taxes on new developments. However, the effectiveness depends on the appropriation of funds and the efficiency of HUD's grant administration.
Potential Benefits
- Increased affordable housing options.
- Potential reduction in housing costs due to tax incentives.
- Stimulation of local economies through construction projects.
- Support for transit-oriented and workforce housing developments.
- Adaptive reuse and rehabilitation of existing structures.
Potential Disadvantages
- Potential strain on federal budget with $300 million annual appropriation.
- Risk of inefficient allocation of grants.
- Possible increase in local taxes for existing residents to offset developer tax reductions.
- Administrative burden on HUD to manage the grant program.
- Potential for developers to exploit the grant program for profit.
Most Disadvantaged Areas:
Constitutional Alignment
The SPUR Housing Act appears to align with the Constitution's general welfare clause (Preamble). Congress has the power to tax and spend for the general welfare, which could include promoting affordable housing. The Tenth Amendment reserves powers not delegated to the federal government to the states, but this act does not appear to infringe on state powers as it provides grants as incentives rather than mandates.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).