The House is currently working on its proposed budget for the fiscal years 2021-2022 and 2022-2023. The biggest change from the proposed Senate budget that the House is considering is to allocate $200 million of ARP funds to provide gap financing to LIHTC developments facing significant budget shortfalls due to dramatic cost increases resulting from the COVID-19 pandemic. It is vital that House members hear from affordable housing stakeholders about the importance of this gap financing.
