1. Short title This Act may be cited as the Prevent Homelessness Act of 2023 . 2. Housing Stabilization Fund (a) Establishment The Secretary of Housing and Urban Development, acting through the Office of Special Needs Assistance Programs of the Office of Community Planning and Development, shall establish and administer a fund to be known as the Housing Stabilization Fund. (b) Grants Amounts in the Fund shall be available, to the extent provided in advance in appropriations Acts, only for making annual grants under this section, in the amount determined pursuant to subsection (f), to continua of care to provide short-term assistance under emergency housing assistance programs that the Secretary determines, pursuant to applications under subsection (e), meet the requirements of subsection (c). (c) Emergency housing assistance program requirements An emergency housing assistance program shall be considered to meet the requirements of this subsection only if the program— (1) is carried out by a continuum of care or other agency, organization, or entity selected by a continuum of care; (2) operates within the geographical area served by the continuum of care; (3) provides financial assistance only on behalf of extremely low-income families and very low-income families who— (A) are unable to meet housing-related obligations (as described in subsection (d) of this section) due to a financial hardship, which shall include the situations described in clause (i) of section 3(a)(3)(B) of the United States Housing Act of 1937 ( 42 U.S.C. 1437a(a)(3)(B)(i) ), a family or health crisis, unexpected expenses, unsafe or unhealthy living conditions, and such other situations as the Secretary may provide