Penalties go to the HOME program for building and first-time buyer help
What the document says“civil penalties assessed under this section shall be transferred to and available to the Secretary of Housing and Urban Development to provide additional funding for the HOME Investment Partnerships program under subtitle A of title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12741 et seq.)”
The section provides that from fiscal year 2027, to the extent provided in advance in appropriations Acts, civil penalties assessed under it are transferred to the Secretary of Housing and Urban Development as extra funding for the HOME Investment Partnerships program, allocated by that program's formula, for new construction, acquisition, and rehabilitation of single-family homes and for grants to first-time homebuyers that may cover down payments, closing costs, and interest rate buydowns.
What the document actually says“civil penalties assessed under this section shall be transferred to and available to the Secretary of Housing and Urban Development to provide additional funding for the HOME Investment Partnerships program under subtitle A of title II of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12741 et seq.)”
The fines go to the housing agency. It adds them to a federal housing program.
That money builds, buys, and fixes up single-family homes. It also helps people buying a first home. It can cover a down payment or closing costs.
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