The proposed amendments to Senate Bill No. 2225 aim to establish a $5,000,000 appropriation for the Department of Commerce to create a community property improvement grant program. This program is designed to assist political subdivisions in addressing housing needs through slum and blight removal and remediation. The bill replaces the previous focus on "housing for opportunity, mobility, and empowerment" with a more targeted approach to property improvement. The funding is considered a one-time allocation and is intended to be utilized until June 30, 2027.

Additionally, the bill outlines the requirement for matching funds from nonstate sources on a dollar-for-dollar basis, which can come from political subdivisions, tribal entities, or local developers. The Department of Commerce is tasked with establishing guidelines for the grant program and must report to the legislative management and the governor by June 30, 2026, detailing the program's status, expenditures, and the number of housing units supported. The bill also includes provisions for reallocating uncommitted funds to viable projects if not fully utilized by December 31, 2026. An emergency declaration is included to expedite the implementation of the program.