The U.S. Department of the Treasury recently released an analysis that examines how state, local, territorial and Tribal governments have used their allocated grants under the State and Local Fiscal Recovery Funds (SLFRF) Program. According to the analysis, through March 31, 2023, SLFRF recipients used their allocated funds to support over 90,000 projects, including $17 billion budgeted for nearly 2,500 housing-related development, emergency aid and assistance initiatives. The analysis shows that between July 2022 and the end of March 2023, the amount of SLFRF funds budgeted for housing-related activities increased by 29 percent, largely due to the Treasury Department’s expansion of housing activities that are eligible for SLFRF funding, including using SLFRF funding to make long-term loans to affordable housing developments financed by LIHTCs.