Homeowners may receive stimulus grant funds from local, state and federal governments.
The American Recovery and Reinvestment Act of 2009 provides different types of stimulus grants for homeowners across the country. Some stimulus grants are intended for specific populations and projects, such as military personnel or renewable energy projects. In addition to the federal stimulus grants, individual states may also have special stimulus programs for homeowners within their states.
Military and civilian Department of Defense personnel
Military personnel who own homes may be able to take advantage of stimulus grants that are available through the Department of Defense Homeowners Assistance Program (HAP). The American Recovery and Reinvestment Act of 2009 allocated $555 million toward the program in the spring of 2009 and expanded the program again in 2010 with another $555 million.
The HAP provides qualifying military personnel with benefits if they must move from their duty stations because of a military relocation or to get treatment for an injury. Military personnel and civilian personnel working for the Department of Defense may be eligible for HAP benefits as long as they meet qualifying conditions, such as a permanent relocation requirement or injury. Applicants should complete the HAP Application, which is available on the U.S. Army Corps of Engineers (USACE) web site (see Resource 1).
State stimulus grant programs
Each state may choose to have its own stimulus grant programs for homeowners with property within their state. In 2010, California governor Arnold Schwarzenegger signed into place SB 401, which provides tax relief to California homeowners who have had to modify their mortgage loans or short-sell their homes during the economic crisis.
The new SB 401 California legislation provides qualifying residents who have already lost their homes with more opportunities for debt forgiveness by excusing them from having to pay taxes equal to the amount of money that they owe their mortgage companies.
Renewable energy incentives
In an effort to help homeowners improve their properties with renewable energy solutions, state, federal and local governments have allocated portions of the American Recovery and Reinvestment Act funds towards residential renewable energy products and solutions for homeowners.
Homeowners in all states may take advantage of federal EnergyStar tax credits that are available through the stimulus plan. These tax credits cover 30 percent of qualifying renewable energy products and installations and may come with annual maximums (see Resource 2).
State and local governments also have the option of putting funds they received from the stimulus plan towards the purchase and installation of renewable energy solutions for homeowners in their states and localities. New Hampshire is an example of one state that provides statewide and local incentives for renewable energy solutions. The state offers incentive through Net Metering and the Renewable Energy Generation Incentive Program. Additionally, 84 cities and towns across the state offer at least one property tax exemption for homeowners who install qualifying renewable energy solutions (see Resource 3).
Tags: renewable energy, energy solutions, renewable energy solutions, stimulus grants, American Recovery, American Recovery Reinvestment, Department Defense
