Build Now Act of 2025

This bill adjusts Community Development Block Grant (CDBG) allocations for certain cities and counties based on improvements in their housing growth rates. It creates a system where recipients with higher housing growth improvement rates receive bonus funds, while those with lower rates face a 10% reduction in their allocation. The bill defines key terms, sets calculation methods, and requires annual reporting and notification to affected recipients.

Sec. 2, Definitions: Defines key terms including 'covered recipient' (a metropolitan city or urban county receiving CDBG funds), 'current annual growth rate' (average annual percentage increase in housing units over a recent period), 'eligible recipient' (a covered recipient not excluded due to low rents and home values, high vacancy rates, recent major disasters, or lack of zoning authority), 'extremely high-growth recipient' (eligible recipient with a current annual growth rate at or above 4%), 'housing growth improvement rate' (a formula comparing current and prior growth rates), 'prior annual growth rate' (average annual percentage increase in housing units over an earlier period), and 'Secretary' (Secretary of Housing and Urban Development).

Sec. 3, Adjustments to Community Development Block Grant Allocations: Requires the Secretary to adjust CDBG allocations for eligible recipients based on their housing growth improvement rate. Recipients with a rate at or above the median (or extremely high-growth recipients) receive a bonus amount, calculated as a share of the total reductions from other recipients, proportional to their housing unit count. Recipients with a rate below the median receive a 10% decrease in their allocation.

Sec. 4, Calculation of Housing Units: Directs the Secretary to calculate housing unit counts using Census Bureau data from the Master Address File at the block level with current boundaries. The Census Bureau and Postal Service must provide data upon request. The Secretary may adjust calculation periods by up to 2 months to align with Census data.

Sec. 5, Annual Report on Housing Growth Improvement Rate: Requires the Secretary to publish an annual report before allocating funds, listing each eligible recipient's housing growth improvement rate and identifying which recipients received a bonus or a decrease in the most recent allocation year.

Sec. 6, Notification; Implementation Dates: Requires the Secretary to notify each eligible recipient of their housing growth improvement rate and whether it is above, at, or below the median within 60 days of enactment, along with guidance on reducing regulatory barriers to housing. The allocation adjustments in Section 3 take effect starting the third full fiscal year after enactment and remain in effect through fiscal year 2043.