On Dec. 27, President Trump signed H.R. 133, the Consolidated Appropriations Act, 2021, which includes the $1.4 trillion fiscal year (FY) 2021 omnibus appropriations, COVID-19 relief, and a set of tax provisions addressing tax extenders and disaster tax relief. This blog provided a summary of the tax and COVID-19 relief provisions relevant to the affordable housing, community development, and renewable energy communities. Novogradac followed up in greater detail on how the $25 billion in emergency rental assistance would work and the $12 billion for Community Development Financial Institutions (CDFIs)/Minority Depository Institutions (MDIs).
FY 2021 Omnibus Overview
This blog summarizes the FY 2021 appropriations for the U.S. Department of Housing and Urban Development (HUD) and U.S Department of the Treasury’s CDFI Fund.
For HUD appropriations, the FY 2021 omnibus provides gross appropriations of $60.4 billion, a $3.8 billion (6.8%) increase from FY 2020, a $12.4 billion (25.9%) more than the FY 2021 request, $975 million (1.6%) less than the FY 2021 House THUD bill passed before the budget agreement, and $879 million (1.5%) more than the Senate FY 2021 THUD bill.