|On March 11, President Biden signed a $1.5 trillion omnibus appropriations bill to fund the federal government through the remaining months of Fiscal Year (FY) 2022. The FY22 omnibus includes significant increases to many key affordable housing and community development programs, all of which Enterprise called for in its 2022 policy priorities. The legislation includes $4 billion more for HUD over FY21, providing $53.7 billion for the agency in FY22, as well as increases to critical affordable housing and community development programs at Treasury and USDA. Some key affordable housing and community development funding highlights from the legislation include:
- $27.4 billion for Tenant-Based Rental Assistance, $1.6 billion over FY21;
- $13.9 billion for Project-Based Rental Assistance, up from $13.5 billion in FY21;
- $8.45 billion for Public Housing, $645.5 million above FY21;
- $3.3 billion for the Community Development Block Grant (CDBG), a slight decrease from FY21;
- $1.5 billion for HOME, $150 million above FY21;
- $41 million for Section 4, level with FY21;
- $295 million for Treasury’s Community Development Financial Institutions (CDFI) Fund, $25 million more than FY21 enacted levels; and
- $1.45 billion for USDA’s Section 521 rental assistance, $40 million over FY21.
The package did not include the Covid-19 supplemental requested by President Biden, which is expected to be considered soon. The legislation did, however, include funding for Ukraine and reauthorizations of the Violence Against Women Act, the National Flood Insurance Program, and Temporary Assistance for Needy Families. For more information, please see a blog post from Enterprise with details about the omnibus spending bill.