Housing Trust Fund; name change, deposit of recordation tax revenues into Fund. (SB277)

Introduced By

Sen. Mary Margaret Whipple (D-Arlington)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Virginia Housing Partnership Trust Fund; dedicating recordation tax revenues. Changes the name of the Virginia Housing Partnership Trust Fund to the Virginia Housing Trust Fund. The bill provides for $0.02 of the recordation tax to be transferred to the Fund. 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. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/10/2006Prefiled and ordered printed; offered 01/11/06 065321140
01/10/2006Referred to Committee on General Laws and Technology
01/26/2006Fiscal impact statement from TAX (SB277)
02/01/2006Reported from General Laws and Technology with amendment (14-Y 0-N) (see vote tally)
02/01/2006Rereferred to Finance
02/08/2006Continued to 2007 in Finance (15-Y 0-N) (see vote tally)