US HB4069

Authorizes $100 billion for HUD grants to provide downpayment assistance to first-generation homebuyers acquiring owner-occupied primary residences, with 75% allocated to states by formula and 25% to eligible entities competitively

Assistance capped at $20,000 or 10% of purchase price (whichever is greater) per homebuyer, covering downpayment costs, closing costs, interest rate reduction, shared equity home subsidies, and disability-related home modifications

Eligible recipients must be first-time homebuyers whose parents never owned a home (or individuals formerly in foster care), with household income at or below 120% of area median income (140% in high-cost areas)

Requires homebuyers to complete HUD-approved housing counseling before purchase and occupy the home as primary residence for 5 years or repay a prorated portion of assistance

Mandates annual reporting on recipient demographics including race, ethnicity, and gender, with the Secretary authorized to recapture funds from grantees failing to serve racial/ethnic groups proportionally