On March 30, the Treasury released new Emergency Rental Assistance (ERA) data, showing that through February 2022, state and local ERA grantees disbursed or obligated approximately $30 billion of the program’s total $46 billion in rental aid. Treasury expects the remaining funds will be deployed to households or paid to grantees in the coming months.
In addition to this new data, Treasury released guidance for the reallocation of ERA2 funds, the ERA program’s expansion under ARPA. The guidance aims to balance ERA2 assistance to grantees that are currently running out of funds, as well as to renters who have not yet received rental aid, prioritizing reallocating ERA2 funds within the same state when possible. Treasury also plans to reallocate recaptured ERA2 funds to areas with significant demonstrated need and the ability to provide assistance promptly. Grantees that have expended non-ERA funds for rental or utility assistance – including State and Local Fiscal Recovery Funds – will receive priority as ERA2 funds are reallocated.