Senate Appropriations Subcommittee Advances FY24 HUD Funding Bill
By a vote of 29-0 on Thursday, July 20, the Senate Appropriations Committee reported favorably Fiscal Year (FY) 2024 Transportation and Housing, and Urban Development (THUD) funding legislation that would maintain or slightly increase funding for a number of HUD programs, including by providing level funding of $1.5 billion for the HOME Investment Partnerships program. This follows on the heels of a lengthy and somewhat contentious full committee markup of a THUD appropriations bill in the House Appropriations Committee on Wednesday which would enact a two-thirds reduction for HOME from the FY 2023 enacted level, to $500 million for FY 2024.
In addition to level funding for HOME, the Senate’s THUD appropriations bill would:
- Maintain all existing rental assistance, including for Project Based Rental Assistance properties and Housing Choice Vouchers;
- Provide $3.9 billion for Homeless Assistance Grants, a $275 million increase above the FY 2023 enacted level; and
- Provide $100 million for a second year of the “Yes In My Back Yard” (YIMBY) grant program to incent eligible jurisdictions to remove barriers to affordable housing production;
During opening remarks, Senate Appropriations Chair Patty Murray (D-WA) cited “key investments . . . that provide rental assistance to families in need [and] increase our housing supply,” but noted that “the housing and homelessness crisis in this country will take a lot more than flat funding.”
The path forward for enacting FY 2024 appropriations legislation remains unclear, however, with the House and Senate advancing widely divergent bills in terms of both funding and policy. Congress has until September 30 to enact funding bills through regular order, pass a continuing resolution, or face a government shutdown.
