Housing Trust Fund; dedicating revenues to provide affordable housing. (SB1055)

Introduced By

Sen. Mary Margaret Whipple (D-Arlington) with support from 14 copatrons, whose average partisan position is:

Description

Virginia Housing Partnership Revolving Trust Fund; dedicating revenues. Establishes special, permanent, nonreverting fund to provide affordable housing in the Commonwealth. The bill also provides that a portion of the fund shall be used to provide matching funds to localities that have both established a local housing fund and appropriated local moneys to the fund. Under the bill, the Department of Housing and Community Development is required to establish criteria for the allocation of the matching funds to eligible localities and to annually report on the allocation of matching funds. In addition, the bill authorizes grants to be made from the Fund to support innovative housing projects and low and moderate income housing projects that are located in areas experiencing extreme shortages of such housing as well as rural housing initiatives. The bill also changes the name of the Virginia Housing Partnership Revolving Trust Fund to the Virginia Housing Trust Fund. This bill is recommended by the Virginia Housing Commission. Amends § 2.2-1514 (“(Contingent expiration date \u2013 see Editor\u2019s notes) Assignment of general fund for nonrecurring expenditures.”), § 36-137 (“Powers and duties of Board; appointment of Building Code Academy Advisory Committee.”), § 36-139 (“Powers and duties of Director.”), § 36-141 (“Definitions.”), § 36-142 (“Creation and management of Fund.”), § 36-147 (“Grants.”), § 36-150 (“Reports.”), § 54.1-2113 (“Establishment and maintenance of fund, duty of Director, assessments of regulants.”), § 55-530.1 (“Common Interest Community Management Recovery Fund.”), § 58.1-344.3 (“Voluntary contributions of refunds requirements.”), of the Code of Virginia. View Full Text »

Outcome

View Bill's History

• 01/13/2009 Prefiled and ordered printed; offered 01/14/09 097435352
• 01/13/2009 Referred to Committee on General Laws and Technology
• 01/21/2009 Impact statement from DPB (SB1055)
• 01/21/2009 Reported from General Laws and Technology with amendment (13-Y 0-N) (see vote tally)
• 01/21/2009 Rereferred to Finance
• 02/05/2009 Reported from Finance (11-Y 4-N) (see vote tally)
• 02/09/2009 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
• 02/10/2009 Read second time
• 02/10/2009 Reading of amendment waived
• 02/10/2009 Committee amendment agreed to
• 02/10/2009 Engrossed by Senate as amended SB1055E
• 02/10/2009 Printed as engrossed 097435352-E
• 02/10/2009 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
• 02/10/2009 Passed Senate (23-Y 17-N) (see vote tally)
• 02/13/2009 Placed on Calendar
• 02/13/2009 Read first time
• 02/13/2009 Referred to Committee on Appropriations
• 02/13/2009 Impact statement from DPB (SB1055E)
• 02/16/2009 Assigned App. sub: Economic Development, Agriculture and Natural Resources(Cox)
• 02/19/2009 Subcommittee recommends laying on the table
• 02/28/2009 Left in Appropriations

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 4 minutes. Click the image of the video to play it.

Comments

4 votes