US HB2206

Establishes a Housing Stabilization Fund administered by HUD to provide emergency housing assistance to extremely low-income and very low-income renters and homeowners facing financial hardship

Authorizes $100 million annually for fiscal years 2027 through 2031, distributed through annual grants to continua of care organizations

Covers housing-related expenses including prospective rent (up to 8 months), rental arrears, mortgage payments, utility bills, security deposits, housing repairs, and related services like legal assistance and housing counseling

Allocates funding through a formula (100% in FY2027, then 80% thereafter) based on extremely low-income and unsheltered homeless populations, with 20% awarded competitively starting in FY2028

Requires recipients to demonstrate financial hardship through evidence such as past-due notices or eviction notices, and programs must coordinate with local homeless prioritization systems including Coordinated Entry