July 25, 2017
ALERT
Senate Panel Approves $40.24 Billion HUD Budget for Fiscal 2018
The Senate-T-HUD Appropriations Subcommittee today approved $40.24 billion in appropriations for HUD for fiscal 2018, which starts Oct. 1. This is an increase of $1.4 billion above the current level.

Of note to the housing community, the bill provides $3 billion for the Community Development Block Grant formula program, which is $100 million above the funding level proposed in the House T-HUD Appropriations legislation.

The Senate spending bill also includes $950 million for the HOME program in fiscal 2018, which is also $100 million above the House counterpart.

Of particular interest to the multifamily developers, the Senate appropriations package provides $21.37 billion for Section 8 Tenant Based Rental Assistance, ($1.07 billion above the fiscal 2017 level of $20.29 billion), and $888 million above the $20.49 billion earmarked in the House bill.

The Senate spending measure allocates $11.5 billion for Section 8 Project-Based Rental Assistance,  an increase from $10.82 billion for the current fiscal year and $42 million above the House proposal of $11.08 billion.

NAHB will continue to work with Congress to ensure these vital housing programs are funded at the appropriate levels to fully fund Section 8 contracts and grant programs to best serve low- to moderate-income communities.

For more information, contact Jessica Hall at 800-368-5242 x8253.


Founded in 1997, the Texas Affiliation of Affordable Housing Providers (TAAHP) is a non-profit trade association serving as the primary advocate and leading resource for the affordable housing industry in Texas. Our vision is to inspire and engage our members and stakeholders to end the affordable housing crisis in Texas.

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Austin, TX 78701

TAAHP

TAAHP

Phone: 512-476-9901 | Email: info@taahp.org

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