Affordable Housing, Announcements, Community Development, Federal News

Congress Releases FY16 Omnibus Spending Bill

National Low Income Housing Coalition
 

The U.S. Congress, currently operating under a Continuing Resolution, has released the text of an omnibus spending bill that would fund all twelve appropriations bills, including THUD (Transportation, Housing and Urban Development). It is expected that Congress will pass another Continuing Resolution on December 16.

According to the National Low Income Housing Coalition, these are the major highlights related to homelessness and housing:

  • National Housing Trust Fund – No NHTF funds were taken
  • HOME – Small increase of $50 million above FY15 level to $950M for FY16
  • Vouchers – Appears short on renewals by about $369 million; only new vouchers are VASH vouchers.
  • Homeless Assistance Grants – Increase over FY15’s $2.135B to $2.250B.
  • Project-Based Rental Assistance – Appears short on renewal funding by about $200 million.
  • Public Housing Operating and Capital Funds – Small increases for both
  • Fair housing policy riders – None
  • Moving to Work – Reduces the Senate’s proposed expansion from 300 to 100 agencies and adds research protocols, as well as some modest reforms.

A tax extender package was also released with the bill. The tax extender package would make permanent the 9% minimum Low Income Housing Tax Credit floor, and make it retroactive to January 1, 2015. The tax extender package can be found here

Click here for more information from the National Low Income Housing Coalition. 

 
 

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