Legislature Passes FY2024 Budget
On July 31st, the House and Senate passed a roughly $56 billion dollar budget (H.4040) for fiscal year 2024 which began on July 1st. The Legislature has also passed a second interim budget to continue the government payroll and operations through August while Governor Healey reviews the FY2024 budget.
Please refer to the CHAPA Budget Priority chart for funding amounts for affordable housing. Below is the summary of some critical programs:
- Mass. Rental Voucher Program (MRVP) - MRVP is funded at $179 million along with language to:
- Establish a payment standard aligned with Section 8 up to 110% Fair Market Rent or Small Area Fair Market rent
- Allows use of a higher payment standard as a reasonable accommodation or otherwise at the discretion of the executive office
- Cap the tenant rent share to 30% of their income towards rent when using the payment standard
- Allows a tenant to choose a unit with rent above the payment standard, while also allowing the tenant rent share beyond 40%
- Carry forward the unspent funds from FY23 bringing the MRVP total allocation at ~$200 million.
- Alternative Housing Voucher Program (AHVP) - AHVP is funded at $16 million along with language to:
- Allow project-basing of AHVP vouchers, similar to MRVP
- Allow AHVP maximum rents use up to 110% of the Small Area Fair Market Rent
- Carry forward the unspent funds from FY23 bringing the AHVP total allocation at ~$26 million.
Residential Assistance for Families in Transition (RAFT) - The Legislature funds RAFT at $190 million. The Legislature also establishes a $7,000 cap for RAFT benefit over a 12-month period.
Public Housing - The Legislature allocates $107 million in funding for the Public Housing Operating line item. It also adds language to exempt Local housing authorities and non-profits from any funding cuts through the Local Capital Projects Fund (LCPF) if the communities they are based in are not compliant with section 3A of the MBTA Multifamily zoning law.
HomeBASE - The Legislature allocates $37 million for HomeBASE. The language increases the benefit amount to $30,000 over a 2-year period and allows EOHLC the discretion for an additional $15,000 benefit for another 12-month period for stabilizing a household.
CPA - The Legislature did not include any transfers to the Massachusetts Community Preservation Trust Fund in this budget.
Chapter 257 - The FY2024 included the Chapter 257 protections for pausing evictions in cases of non-payment of rent if the tenants had an ongoing RAFT application.
CHAPA thanks Senate President Spilka, House Speaker Mariano, Chairman of Ways & Means Committee, Sen. Rodrigues and Rep. Michlewitz, Members of the Ways & Means Committee, Chairman of Housing Committee, Sen. Edwards and Rep. Arciero, and all the legislators for historic investments in affordable housing priorities.