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The Build Now Act adjusts federal Community Development Block Grant (CDBG) allocations to metropolitan cities and urban counties based on their housing growth improvement rates. Jurisdictions with housing growth rates at or above the median—or with extremely high growth (4% or more annually)—receive bonus allocations, while those with below-median growth rates receive 10% reductions. The bill requires HUD to calculate housing unit growth using Census data and publish annual reports on which jurisdictions qualify for bonuses or reductions, with implementation beginning in the third full fiscal year after enactment.
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