HR 8026
CDBG Modernization Act of 2024
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Bill overview
This bill, the CDBG Modernization Act of 2024, aims to improve how federal funds from the Community Development Block Grant Program are distributed to communities. It requires the Department of Housing and Urban Development to study the current formulas used to allocate these grants and develop revised formulas that better target funding to community development needs, addressing potential inequities and ensuring ongoing effectiveness. The bill also mandates periodic follow-up studies and reports to continually assess and refine these formulas over time.
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