To authorize the Secretary of Housing and Urban Development to prioritize the award of certain housing grants to applicants located in, or serving, low-income communities.

In this section, the term covered grant means any competitive grant relating to the construction, modification, rehabilitation, or preservation of housing, as determined by the Secretary of Housing and Urban Development.

When awarding a covered grant, the Secretary of Housing and Urban Development may give additional weight to applicants with proposed activities or projects that are located in or substantially and directly benefit a community designated as a qualified opportunity zone under section 1400Z–1 of the Internal Revenue Code of 1986.