Stimulus Plan and Public Housing

Economic Stimulus Legislation - Housing Included Section 502, NSP, Other Housing Funds Included in Final Stimulus Bill. February 17, 2009. President Barack Obama signed into Law H.R. 1, the American Recovery and Revitalization Act of 2009, as passed by the Congress on February 13. The final bill would fund $1 billion in direct Section 502 loans and $10.472 billion in Section 502 guaranteed loans, as well as numerous HUD programs and rural community facilities, business, and water/wastewater programs. Details are in the table below. The final bill requires that at least 10 percent of the spending for each of the RD community facilities, business, and water/waste programs in the bill must be allocated to persistent poverty counties. These are defined as counties with poverty rates of 20 percent or more in the 1980, 1990, and 2000 decennial censuses. (This does not apply to Sec. 502 funding.) List of persistent poverty counties (PDF) Updated February 19. Program H.R. 1 Final version USDA Sec. 502 direct $1 billion USDA Sec. 502 guaranteed $10.472 billion HUD HOME $2.25 billion HUD CDBG $1 billion HUD Native Amer. Block Grants $510 million HUD Public Hsg. Capital Fund $4 billion HUD Neighbrhd Stablztn Prog. $2 billion HUD Emergency Shelter Grants Prog. $1.5 billion HUD Lead Hazard Reduction $100 million HUD SHOP 0 Energy refrofits for HUD-assisted rental housing $250 million USDA Rural Cmnty. Facilities $1.171 billion loans $63 million grants USDA Rural Water and Waste Loans and Grants $2.82 billion loans $968 million grants USDA Rural Business Loans and Grants $2.99 billion loans $20 million grants The following table summarizes the differences between the House and Senate bills regarding assisted housing spending. Program H.R. 1 passed by House 1/28/09 Collins-Nelson Amdt. in Senate 2/9/09 USDA Sec. 502 direct $4 billion $1 billion USDA Sec. 502 guaranteed $18 billion $10.5 billion HUD HOME $1.5 billion $2.25 billion* HUD CDBG $1 billion 0 HUD Native Amer. Block Grants $500 million $510 million HUD Public Hsg. Capital Fund $5 billion $5 billion HUD Neighbrhd Stablztn Prog. $4.19 billion 0 HUD Emergency Shelter Grants Prog. $1.5 billion $1.5 billion HUD Lead Hazard Reduction $100 million $100 million HUD SHOP $10 million 0 HUD Proj.-Based Section 8** $2.5 billion $2.25 billion USDA Rural Broadband $6 billion $3.3 billion USDA Rural Cmnty. Facilities $1.2 billion *** USDA Rural Water and Waste Loans and Grants $3.8 billion $3.8 billion USDA Rural Business Loans and Grants $2 billion $3 billion Homebuyer tax credit 0 $35 billion A more detailed table is available on the National Housing Conference's Open House blog.