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ARRA Appropriations for HUD

ARRA Appropriations for HUD. Neighborhood Stabilization Program - $4.2 billion in House, cut in the Senate compromise Public Housing Capital Fund - $5 billion in both chambers Public/Assisted Housing Stability and Energy Efficiency - $2.24 billion in both chambers

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ARRA Appropriations for HUD

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  1. ARRA Appropriations for HUD • Neighborhood Stabilization Program - $4.2 billion in House, cut in the Senate compromise • Public Housing Capital Fund - $5 billion in both chambers • Public/Assisted Housing Stability and Energy Efficiency - $2.24 billion in both chambers • HOME Investment Partnerships Program - $1.5 billion in House, $2.25 billion (specified for LIHTC) in Senate • Native American Housing Block Grants - $500 million in both chambers • Homelessness Prevention Fund - $1.5 billion in both chambers • Assisted Housing Stability and Energy and Green Retrofit Investments - $3.5 billion in Senate • Lead Hazard Control in private low-income housing - $100 million in both chambers

  2. ARRA Housing-related Tax Provisions in the Senate Bill • Increases the homebuyer’s tax credit – what was previously a $7,500 credit for first-time homebuyers is expanded to a $15,000 tax credit for all homebuyers, so long as it is used to purchase a principal residence within the next year. This is intended to help reduce the large accumulation of homes on the market. • Low-Income Housing Tax Credit – accelerates use of tax credits for private investors. Intended to bring new private investors into the program.

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