Which act established the Housing Trust Fund (HTF)?

The Housing Trust Fund (HTF) was established by the Housing and Economic Recovery Act of 2008. This legislation responded to the housing crisis and aimed to create a dedicated source of funding for the development, rehabilitation, and operating assistance for rental housing targeted to extremely low-income households. The HTF is significant because it provides flexible funding that state and local governments can use to meet the housing needs of the most vulnerable populations, including those experiencing homelessness or at risk of homelessness.

This act highlighted a commitment to addressing affordable housing issues in a structural way, emphasizing the necessity of having reliable resources to support housing for low-income individuals and families. The creation of the HTF is viewed as a critical step toward increasing the stock of affordable housing through targeted investments, which has ongoing relevance to housing and community development efforts.