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Conference Committee Approves Appropriation Bill for VA, HUD

Wednesday, November 7, 2001 - 8:00AM

A House-Senate conference committee yesterday approved a final version of House Resolution 2620, the fiscal year 2002 appropriations bill for the U.S. Departments of Veterans Affairs (VA) and Housing and Urban Development (HUD). H.R. 2620 grants a total of $30 billion in budget authority to HUD, including full funding for Section 8 contract renewals and funds for 26,000 incremental vouchers. It provides $1.846 billion for the HOME investment partnerships program as well as $574 million to HOPE VI. The bill also raises Federal Housing Administration (FHA) multifamily mortgage limits by 25 percent and authorizes a new hybrid FHA adjustable-rate mortgage program.Both houses of Congress must now approve the final bill before it can be sent to President Bush. To view H.R. 2620 and other affordable housing legislation, click here.

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