The Treasury Department said Wednesday that it will send $2 billion to the District of Columbia and 17 states that have had unemployment rates higher than the national average for a year.
An additional $1 billion will go to a new Department of Housing and Urban Development program to provide homeowners with emergency zero-interest-rate loans of up to $50,000 for up to two years.
The administration was required to launch the HUD emergency-loan program by the financial-regulatory bill signed by President Barack Obama last month.
California will get the largest share of money: $476 million. Florida is in line for nearly $239 million. Illinois will receive $166 million and Ohio will receive $149 million.
Also receiving money are Michigan, $129 million; Georgia, $127 million; North Carolina, $121 million; New Jersey, $112 million; Indiana, $83 million; and Tennessee, $81 million.
Alabama is due to receive $61 million; South Carolina, $59 million; Kentucky, $56 million; Oregon, $49 million; Mississippi, $38 million; Nevada, $34 million; Rhode Island, $14 million; and Washington, D.C., $8 million.
by Alan Zibel Associated Press August 12, 2010 12:00 AM
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