January 17, 2014

Fate of funding levels for HUD and the Department of Agriculture decided

Congress passed the FY 2014 Omnibus Appropriations bill, H.R. 3547, yesterday, answering many questions about the fate of federally funded housing agencies. According to the National Council of State Housing Agencies (NCSHA), the bill includes $32.8 billion for HUD and $2.4 billion for rural development programs at USDA.
This bill also defines the new criteria that will be used to determine rural eligibility for USDA loans after FY 2014. PHAs, mortgage lenders and community development organizations will want to find out additional details of the bill in NCSHA’s News Update.

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