HOUSE JOINT RESOLUTION NO. 108 Offered January 9, 2008 Prefiled January 8, 2008 Directing the Department of Housing and Community Development and the Department of Taxation to jointly study incentives for affordable housing. Report. ----------
Patrons-- Caputo, Marsden and Scott, J.M.; Senators: Barker, Herring and Ticer
---------- Committee Referral Pending ----------

WHEREAS, affordable housing is becoming more and more difficult for many individuals and families to acquire; and

WHEREAS, this problem exists not only in the Commonwealth but also throughout the entire United States; and

WHEREAS, the Department of Housing and Community Development and the Department of Taxation have the expertise to determine the kinds of incentives that would be beneficial in alleviating the lack of affordable housing; now, therefore, be it

RESOLVED by the House of Delegates, the Senate concurring, That the Department of Housing and Community Development and the Department of Taxation be directed to jointly study incentives for affordable housing.

In conducting its study, the Department of Housing and Community Development and the Department of Taxation shall (i) review any affordable housing incentives that currently exist in the Commonwealth, (ii) examine the incentives that other states have enacted for providing affordable housing and whether such incentives have been effective; and (iii) develop a list of new incentives for consideration by the Governor and General Assembly.

All agencies of the Commonwealth shall provide assistance to the Department of Housing and Community Development and the Department of Taxation for this study, upon request.

The Department of Housing and Community Development and the Department of Taxation shall complete their meetings by November 30, 2008, and the Director of the Department of Housing and Community Development and the Tax Commissioner shall submit to the Division of Legislative Automated Systems an executive summary of its findings and recommendations no later than the first day of the 2009 Regular Session of the General Assembly. The executive summary shall state whether the Department of Housing and Community Development and the Department of Taxation intend to submit to the General Assembly and the Governor a report of its findings and recommendations for publication as a House or Senate document. The executive summary and report shall be submitted as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents and reports and shall be posted on the General Assembly's website.