On November 17, 2023, President Joe Biden signed a second continuing resolution (CR), extending government funding and avoiding a shutdown. The “two-tier” CR included two separate funding deadlines:
- The first bill funds four federal agencies, including the U.S. Department of Housing and Urban Development (HUD), until January 19, 2024.
- All additional federal agencies and the National Flood Insurance Program (NFIP) were extended until February. 2, 2024.
The U.S. Senate has already passed its Fiscal Year 2024 (FY2024) spending bills for HUD, while the House version of the bill is awaiting consideration on the floor. At present, the House bill spending levels are more than 8% below the Senate levels, including funding increases for Yes in My Backyard grants, support of the HOME Investment Partnership Program, Housing Choice Vouchers and rental assistance.
A conference committee would convene to reconcile the differences between the two bills. The National Apartment Association’s (NAA) goal is to support the final passage of the FY2024 spending bills and ensure the NFIP is extended or reauthorized.