Housing Choice Voucher Funding Fairness Act of 2006 - Amends the United States Housing Act of 1937 to require the Secretary of Housing and Urban Development (HUD) to allocate certain funds for renewal of expiring annual contributions contracts for tenant-based rental assistance for each public housing agency (other than an agency with a special funding agreement under the Moving To Work demonstration program) based on the most recent leasing and cost data for certain funding cycles.
Prescribes implementation guidelines, including agency reserves for housing choice vouchers.
Requires the Secretary to provide to Congress and make publicly available specified budget information.
Sets forth guidelines for maximized leasing that prohibit the Secretary from: (1) taking into consideration the extent to which the number of families assisted in the preceding year by an agency exceeded the authorized level; or (2) establishing or enforcing any limitation on the number of families, vouchers, or units or unit-months that may be assisted with amounts provided for tenant-based rental assistance.