House Approves FY2016 Transportation-HUD Appropriations Bill; Includes $3 Billion for CDBG

WASHINGTON, D.C. – June 15, 2015 – (RealEstateRama) — This week, the House approved their version of the fiscal year (FY) 2016 Transportation, Housing and Urban Development, and Related Agencies Appropriations bill (H.R. 2577) by a vote of 216 to 210. The bill includes funding for the U.S. Department of Transportation, the U.S. Department of Housing and Urban Development, and other related agencies.

In total, the bill reflects an allocation of $55.3 billion in discretionary spending, which is $1.5 billion above current funding levels. The bill contains $6.4 billion for HUD Community Planning and Development programs. The Community Development Block Grant (CDBG) formula program is funded at $3 billion for FY2016, level with FY2015 funding and the HOME Investment Partnerships Program is also funded at the FY2015 level of $900 million. Click here for the full text of the legislation. Click here to view the committee report.