Congress

If enacted, areas that experienced federally-declared disasters from 2012 – 2015 would receive additional allocations towards tax credit programs

President Trump signed into law on Friday legislation that provided both hurricane recovery funds as well as continued appropriations to keep the federal government funded through December 8.

U.S. Representatives submitted nearly one hundred amendments to the FY-2018 Transportation-HUD appropriations legislation (HR 3354).

The Senate received a list of nominations from President Trump on September 5.

In a bipartisan show of support for affordable housing, members of the Committee from both sides of the aisle acknowledged the need for more affordable housing and the role of the Low-Income Housing Tax Credit (Housing Credit) as our nation’s primary tool for increasing the supply of affordable rental housing.

The 3.5% increase over last year is in contrast to the House’s current appropriations bill, which calls for a 1.3% decrease to HUD’s appropriation.

T-HUD Bill Goes Through Committee Mark-Up, Forwarded to Full Committee Without Amendment.

The Public Housing Tenant Protection and Reinvestment Act of 2017 would reform several rules related to public housing, as well as fully fund the public housing stock.

While The Office of Management and Budget requested $462 billion for nondefense discretionary spending, House appropriators have decided to draft allocations assuming a $511 billion topline instead.

Overall, this year’s CPD budget represents a 2% increase in allocation over 2016.

The Senate Committee on Banking, Housing, & Urban Affairs will meet in open session to conduct a hearing for the Chairman of the Council of Economic Advisers and for the Deputy Secretary of Housing and Urban Development.

The significantly reduced budget maintains all existing vouchers (HUD’s largest expense) by increasing expenses for tenants and placing a freeze on rent adjustment increases for PBRA, Section 202, and Section 811, among other strategies.