Spending Bill Lays Out Funding Levels for Key HUD and USDA Programs

Filed in Advocacy, Housing Finance by on December 22, 2020 0 Comments

The massive spending bill approved by Congress last night will fund the federal government through Sept. 30, 2021 and contains good news for the housing community on energy codes.

Here are the funding levels for key HUD and USDA programs:

HUD

  • The Section 8 Tenant-Based Rental Assistance program will receive $25.77 billion in funding for the fiscal 2021 budget vs. $23.87 billion from the amount enacted for 2020.
  • The Section 8 Project-Based Rental Assistance program will receive $13.46 billion in fiscal 2021, up from last year’s $12.6 billion.
  • The HOME Investments Partnership program will receive $1.35 billion in fiscal 2021, the same amount as last year.
  • The Community Development Fund will receive $3.47 billion in fiscal 2021, up slightly from the $3.43 billion appropriated for the previous year.
  • Choice Neighborhoods will receive $200 million in funding, up from $175 million from the year before.

USDA

  • The Section 502 Direct Loan program will be funded at $1 billion in fiscal 2021, the same level as last year.
  • The Section 502 Guaranteed program will be funded at $24 billion, the same level as the last fiscal year.
  • The Section 515 Multifamily Housing Direct Loan program is slated to receive $40 million, the same amount as a year ago.
  • The Section 421 Rental Assistance program will be funded at $1.41 billion, up from last year’s total of $1.375 billion.
  • The Multifamily Housing Revitalization program will receive $68 million and $40 million for vouchers vs. $60 million and $32 million in vouchers that were appropriated in fiscal 2020.

Energy Codes

The legislation also contains an energy package that boosts energy efficiency and manufacturing. NAHB was victorious in preventing the inclusion of problematic energy codes language by Sens. Rob Portman (R-Ohio) and Jeanne Shaheen (D-N.H.) that would have expanded the role of the Department of Energy in the code development process and incentivized states to adopt aggressive energy codes.

 For more information on spending levels, contact Jessica Hall at 800-368-5242 x8253; or Mallika Vastare at x8570 for more details on energy codes.

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