The project-based voucher (PBV) program is one part of the HCV program. The latest statutory changes to the PBV program were enacted recently by the Housing Opportunity Through Modernization Act of 2016. Project Based Voucher (PBV) Program. Project-based vouchers (PBV), in contrast, are attached to a specific unit whose landlord contracts with the state or local public housing agency. The Project Based Voucher (PBV) program attaches the rental assistance voucher to private (including SCCHA-owned/operated) housing units. What is Section 8? ▫ Housing choice voucher (HCV) program.