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Congress Approves Housing Spending Measures

The House and Senate passed a $397.4 billion omnibus appropriations package on Feb. 13 that finally ended the fiscal year 2003 budget impasse. The measure includes funding allocations for 11 unfinished appropriations bills, including fiscal 2003 appropriatioins for VA/HUD programs:

•  The Home Investment Partnerships Program (HOME) received $1.925 billion for FY 2003, up from $1.846 billion in 2002.
• The Community Development Block Grant (CDBG) program received $4.368 billion for FY 2003. FY 2002 was set at $4.341 billion.
• The Partnership for Advancing Technology in Housing (PATH) program received $7.5 million for FY 2003. FY 2002 was set at $8.75 million.
• Housing Counseling Assistance received $40 million in FY 2003. FY 2002 was set at $20 million.
• Rural Housing and Economic Development (RHED) received $25 million, the same as the FY 2002 level.
• The Federal Emergency Management Agency (FEMA) flood maps received $150 million. FY 2002 was set at $25 million.

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Following are highlights of the fiscal ’03 Department of Agriculture program allocations:

• The Rural Rental Housing Assistance (Sec. 521) received $726 million in FY 2003. FY 2002 was set at $701 million.
• The Sec. 515 Direct Loan Program (rental) received $115.8 million in FY 2003. FY 2002 was set at $114 million.
• The Sec. 538 Loan Guarantee Program received $100 million in FY 2003. FY 2002 was set at $99.8 million.
• The Sec. 502 Single Family Direct Loan Program received $1.044 billion in FY 2003. FY 2002 was set at $1.08 billion.
• The Sec. 502 Single Family Guarantee Program received $4.258 billion in FY 2003. FY 2004 was set at $3.14 billion

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