House Passes FY 2021 Spending Bill that Includes $50.6 Billion for HUD, $273 Million for CDFI Fund

Friday, July 31, 2020 - 2:45pm

The House of Representatives today passed H.R. 7616, which bundles fiscal year 2021 spending bills for several departments, including the U.S. Department of Housing and Urban Development (HUD). The bill includes $50.6 billion for HUD, including $25.7 billion for tenant-based rental assistance and $13.1 billion for project-based rental assistance. The bill includes a separate emergency infrastructure fund with $24.3 billion for the Public Housing Capital Fund, $4 billion for Community Development Block Grants and $17.5 billion for the HOME Investments Partnership program. The legislation provides $273.5 million for the Community Development Financial Institution (CDFI) Fund, which oversees the New Markets Tax Credit (NMTC) program.