**Full text of the LIFELINE Act is available here**

Washington, D.C. — This week, Congresswoman Annie Kuster (NH-02) announced that her work on the LIFELINE Act, which she cosponsored, led to the publication of revised guidance by the Treasury Department that will unlock an additional $8 billion for affordable housing from the American Rescue Plan Act’s State and Local Fiscal Recovery Fund. The LIFELINE Act is bipartisan legislation to allow states to use American Rescue Plan funds to provide loans for low-income and affordable housing projects.

“Across New Hampshire, there is a serious lack of affordable housing, making hiring qualified employees even more difficult for our small businesses,” said Rep. Kuster. “I have been proud to lead efforts in Congress to make American Rescue Plan funds available to help address this issue and strengthen the affordable housing supply across the country. This announcement is a major win for our state, our communities, and our economy – I will continue working to address the affordable housing crisis.”

“New Hampshire has great need for additional rental housing, particularly for our state's workforce. Developers building this much-needed housing face challenges in financing this construction due to rising costs and interest rates. With these updated Treasury guidelines, recovery funds will be available to help more housing get built now in the Granite State,” said Rob Dapice, Executive Director/CEO of New Hampshire Housing.

“Increasing the nation’s housing supply is essential to lowering shelter costs over the long-term,” said Deputy Secretary of the Treasury Wally Adeyemo. “Treasury continues to strongly encourage state and local governments to dedicate a portion of the historic funding available through President Biden’s American Rescue Plan toward building and rehabilitating affordable housing in their communities and the actions being announced today will make it even easier for them to do so. Treasury appreciates the partnership with housing advocates and Members of Congress, including those who co-sponsored the LIFELINE Act, whose advocacy helped inform today’s announcement.”

Earlier this year, the Treasury Department issued a Final Rule that the State and Local Fiscal Recovery Fund (SLFRF) dollars, which were created by the American Rescue Plan, must be obligated by December 31, 2024, and expended by December 31, 2026. Over 20 states have declared their intention to use SLFRF dollars to offset those costs and ensure that the pipeline of affordable housing units will remain robust; however, Treasury's original Final Rule presented an insurmountable barrier for states wishing to do so. Kuster’s LIFELINE Act corrected that oversight and this week’s action from the Treasury put her plan into action.

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