NAHMA released our NAHMAnalysis on the FY 2013 Obama Administration Budget Request, “NAHMAnalysis 2012-0223-FY 2013 Budget Request for Affordable Rental Housing Programs.”
The Obama Administration’s HUD funding priorities in the FY 2013 budget are very different from the FY 2012 budget request. For the first time, the Obama Administration did not request full funding for all project-based Section 8 contract renewals for their 12-month terms. In fact, the budget recommendation for the project-based Section 8 account is $640 million below the FY 2012 appropriation level. The majority of HUD’s other accounts would receive flat-finding under the budget request at FY 2012 appropriations levels.
In addition, the FY 2013 Treasury budget request calls for four reforms to the LIHTC program.
For USDA Rural Housing Service (RHS), the Obama Administration proposes increasing funding above FY 2012 appropriations levels for all multifamily accounts except for Section 515.
A copy of the NAHMAnalysis may be found here: http://www.nahma.org/member/NAHMAAnalysis/NAHMAnalysis%20FY%202013%20Budget%20Request.pdf