Last week, the House passed FY22 appropriations legislation with funding levels for HUD, USDA, and Treasury, among other federal agencies. The bill passed along party lines.
For HUD, the bill would provide $56.5 billion in funding, which represents a 12% or $6.8 billion increase over FY21 enacted levels. The legislation includes $29.2 billion for Tenant-Based Rental Assistance, which is estimated to be enough to expand the program for nearly 125,000 additional households, $1.85 billion for the HOME program, $3.7 billion for the CDBG, and $45 million for the Section 4 Capacity Building for Community Development and Affordable Housing Program. There is also a $205 billion allocation for improving energy and water efficiency in public housing, as well as $400 million for the Choice Neighborhoods Initiative.
Additional affordable housing and community development highlights include $40 million for USDA Section 515 Multifamily Direct loans, $1.45 billion for Section 521 Rental Assistance, $45 million for Section 542 Rural Housing Vouchers, and $330 million for the CDFI Fund.
The Senate has not yet considered any of their FY22 appropriations legislation. Enterprise encourages Congress to provide robust FY22 funding for affordable housing and community development programs before FY21 funding expires on September 30.