US SB3464

Triples the Low-Income Housing Tax Credit ceiling from 1.12 to 3.36 and creates a $10 million/year Middle Income Housing Construction Loan Fund targeting households earning 60-120% of area median income

Authorizes $5 billion/year for a new Workforce Housing Block Grant Program and $1 billion/year for a Housing Accelerator Program providing gap financing for shovel-ready affordable projects with 30-year affordability covenants

Increases funding for existing programs: $4.2 billion/year for Community Development Block Grants, $2 billion/year for HOME Investments Partnership, $1.65 billion/year for Section 202 elderly housing, and $200 million/year for Indian Housing Block Grants

Establishes a SAMHSA Center for Unhoused Individuals with $1 billion/year in behavioral health grants, increases McKinney-Vento homeless assistance to $8.2 billion/year, and authorizes 1 million additional housing vouchers over 10 years

Creates an Office of Eviction Prevention within HUD, establishes a U.S. Interagency Council on Housing Affordability and Preservation, and requires Davis-Bacon prevailing wages plus 15% apprenticeship labor hours on all funded construction projects