Congress Prepares to Pass FY24 Funding with Moderate Boost for HUD

Over the weekend, Congress publicly released a final Fiscal Year (FY) 24 Transportation-HUD appropriations bill with moderate funding increases for HUD. The House and Senate Appropriations Committees have stated that the bill would fund HUD at about $70 billion for FY 24. NAHRO is pleased that despite working under strict funding caps — negotiated by Congressional leadership — appropriators were still able to increase or maintain funding for certain HUD accounts.

The current stop gap bill (continuing resolution) funding HUD and five other federal agencies will expire on Friday, March 8. Congress plans to pass the final FY 24 bills for these agencies prior to Friday to avoid a partial government shutdown. Leadership may try to pass the bills before President Biden’s State of the Union Address on the evening of March 7. Negotiations on Capitol Hill will then move to the six remaining FY 24 budgetary bills with a March 22 CR deadline.

Topline FY 24 HUD funding amounts include the following (comparisons are to FY 23 enacted levels):

Section 8

• Voucher renewal funding (Housing Assistance Payments) – $28,491 million ($2,089 million increase)
• Administrative Fees – $2,771 million ($7 million decrease)
• Tenant Protection Vouchers – $337 million (level funding)
• New Family Unification Vouchers (including Foster Youth to Independence vouchers) – $30 million for new vouchers
• New HUD-VASH vouchers – $15 million ($35 million decrease)
• Mainstream Vouchers – $743 million ($136 million increase)
• Project-Based Rental Assistance (PBRA) – $16,010 ($1,103 million increase)
• No new general-purpose vouchers

Public Housing

• Operating Fund – $5,476 million ($367 million increase)
• Operating Fund Shortfall – $25 million (level funding)
• Capital Fund – $3,200 million (level funding)

Community Development

• HOME – $1,250 million ($250 million decrease)
• CDBG – $3,300 million (level funding)
• Homeless Assistance Grants – $4,051 million ($418 million increase)
• Choice Neighborhoods – $75 million ($275 million decrease)

Thank you to NAHRO members who sent thousands of letters and met with your elected officials to urge them to adequately fund HUD programs in FY 24. Your advocacy matters!

NAHRO will provide an in-depth analysis of the final T-HUD bill to members later this week.