Legislative Update

HUD Budget
HUD unveiled their proposed budget for FY 2017 that includes over $11 billion in new mandatory spending as well as over $48 billion in gross discretionary funding.  The budget will require Congressional support and will undoubtedly undergo many changes & twists before something is finally approved. Some takeaways:
  • $20.9 billion for the Housing Choice Voucher program
  • $10.8 billion for the Project-Based Rental Assistance program, which supports 12 months of funding for rental assistance contracts with public and private owners who maintain affordable rental housing for 1.2 million families.