President Releases FY15 Proposed Budget; Impact on 811 Funding
On March 5, 2014, the President released his FY15 Budget. This is just the first step in the federal budget process. Next, Congressional appropriators will start to craft their FY15 bills.
The proposed FY15 budget amount for Section 811 program is $160 million, an increase of $34 million over FY14 (enacted) funding. Of the $160 million, approximately $25 million will be made available for new Section 811 PRA units.
Congress Completes FY 2014 Budget; Impact on 811 Funding
On January 17, 2014, the FY14 Omnibus Appropriations Act was signed into law by President Obama. This is the FY14 budget that will fund the federal government through September 2014.
The FY14 appropriations for the Section 811 program is $126 million, a decrease of $30 million over FY13 (post sequester) funding. Of the $126 million, approximately $17 million will be made available for new Section 811 PRA units. While the FY14 budget does include funding for new PRA units, this is a significant decrease from the last two years.
FY 2013 Budget & Section 811 Funding
The FY13 Continuing Resolution (CR), passed by Congress in March, allocates $165 million for the Section 811 program (minus the 5% sequester of approximately $8.3 million). HUD projects that $60 million will be available for a FY13 competition for new 811 PRA units - enough to fund as many as 2,000 PSH units.
For more information about the proposed FY13 Budget:
FY 2012 Section 811 Appropriations
The enacted FY12 budget provides $165 million for the Section 811 program which includes funds for all existing Section 811 Project Rental Assistance Contract (PRAC) renewals and amendments. HUD estimates there will be roughly $75 million for up to 2,500 new Section 811 PRA units.
The appropriations language requires any new Section 811 units to be created through the new Project Rental Assistance (PRA) option and does not allow any funding for new Section 811 Capital Advances.