|Late yesterday, the House and Senate passed a $1.4 trillion spending deal for fiscal year 2021 (FY21) with $900 billion of coronavirus relief and a set of tax proposals attached to the package. The Senate also approved a seven-day extension of the short-term Continuing Resolution (CR) funding the federal government, which was set to expire at midnight. The President will need to sign the package into law before the new CR expires in order to avoid a government shutdown.|
Between the dozen annual appropriations bills, the coronavirus aid, and the tax extenders, the package has many of Enterprise’s top policy priorities, including: $25 billion in rental assistance; an extension of the eviction moratorium; the strengthening of the Low-Income Housing Tax Credit, specifically a permanent, minimum 4 percent Housing Credit rate; an extension and expansion of the New Markets Tax Credit; and funding for critical affordable housing programs in FY21 such as the HOME Investment Partnership program, the Community Development Block Grant program, the Section 4 Capacity Building Program, and the Community Development Financial Institutions Fund, as well as for critical rural housing programs through USDA.
Enterprise applauds Congress for providing this much-needed assistance to the more than 30 million Americans who are currently at risk of losing their homes and the nearly eight million Americans that have fallen into poverty over the past five months. This year-end package will provide vital federal resources to families and businesses to help them weather the storm of this crisis. We also especially thank our bipartisan Congressional champions who have tirelessly advocated for our affordable housing priorities.
For more information, view a blog post by Enterprise’s Senior Director of Public Policy Sarah Brundage, and Policy Analysts Krista D’Alessandro and Alexander Williams.
|HUD Extends HOME Covid-19 Waivers|
On December 4, HUD published two new memoranda that provide guidance, statutory suspensions, and regulatory waivers for Participating Jurisdictions (PJs) of the HOME Investment Partnership Program (HOME) impacted by the spread of Covid-19. These memoranda are an update of HUD’s previous memoranda from April.
The first updated memo extends and adjusts certain regulatory waivers and statutory suspensions through September 30, 2021, which were originally detailed in HUD’s first April memo, Availability of Waivers and Suspension of the HOME Program Requirements in Response to COVID-19 Pandemic. HUD also included two new regulatory waivers regarding the maximum per-unit subsidy limit and the income documentation requirement for owners of HOME projects in their sixth year of the affordability period. The second updated memo edits and extends all statutory suspensions and regulatory waivers also through September 30, 2021. These suspensions and waivers were originally detailed in HUD’s second memo released in April, Suspensions and Waivers to Facilitated Use of HOME-Assisted TBRA for Emergency and Short0term Assistance in Response to the Covid-19 Pandemic. The memo also revises HUD’s waivers for: eligible TBRA costs and maximum TBRA subsidy; tenant protections; housing quality standards; annual inspection of units occupied by recipients of HOME TBRA; and income determination.
If a PJ is interested in implementing the HOME statutory suspensions and waivers, they must notify the Community Planning and Development Division in its local HUD Field office and identify which suspensions and waivers they plan to use.