The U.S. Department of the Treasury recently updated its Frequently Asked Questions (FAQs) guidance for the Emergency Rental Assistance (ERA) program to provide additional flexibilities under the American Rescue Plan Act for ERA 2 dollars that are unobligated as of Oct. 1, 2022. The updated FAQs allow such funds to be used for the construction, rehabilitation or preservation of affordable housing projects and the operation of affordable housing projects that were constructed, rehabilitated or preserved using ERA 2 funds. Read more from the National Council of State Housing Agencies.