DE SB246

Defines "low income" as households earning less than 80% of Area Median Income and "very low income" as households earning less than 50% of Area Median Income for eligibility purposes.

Requires the Housing Repair and Modification Fund to retain all accrued interest and principal loan payments rather than depositing them into the General Fund, maintaining the fund's revolving status.

Mandates DSHA allocate fund resources with 50% benefiting low-income households and 50% benefiting very low-income households for home repairs including manufactured homes.

Permits up to 10% of annual allocations to small landlords (owning fewer than 5 rental units) who lease to very low-income tenants, with repairs provided as low-interest loans below market rate and conditions restricting rent increases.

Allows DSHA to use portions of Housing Repair and Modification Fund allocations for program administration and permits fund disbursements to include both grants and loans while preserving the fund's revolving character.