Virginia Housing Trust Fund Authority; created, report. (HB121)

Introduced By

Sen. Joe Morrissey (D-Richmond) with support from co-patron Del. Charniele Herring (D-Alexandria)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Virginia Housing Trust Fund Authority.  Creates the Virginia Housing Trust Fund Authority to administer the Virginia Housing Trust Fund also created by the bill to assist in increasing the capacity of community housing organizations and encourage private sector businesses and individuals to contribute capital to community-based housing organizations and assist them in providing safe, decent, and affordable housing to Virginia citizens. The bill sets the powers and duties of the Authority and its Board of Directors, and the lawful purposes for which the Fund may be used. Read the Bill »


Bill Has Failed


01/04/2012Prefiled and ordered printed; offered 01/11/12 12102519D
01/04/2012Referred to Committee on General Laws
01/25/2012Impact statement from DPB (HB121)
01/27/2012Assigned GL sub: #1 Housing
02/08/2012Subcommittee recommends reporting with amendment(s) (5-Y 2-N)
02/08/2012Subcommittee recommends referring to Committee on Appropriations
02/09/2012Reported from General Laws with substitute (21-Y 0-N) (see vote tally)
02/09/2012Committee substitute printed 12104678D-H1
02/09/2012Referred to Committee on Appropriations
02/10/2012Assigned App. sub: Economic Development, Agriculture and Natural Resources
02/10/2012Incorporates HB790
02/13/2012Impact statement from DPB (HB121H1)
02/20/2012Left in Appropriations

Duplicate Bills

The following bills are identical to this one: HB1100.


Va Housing Coalition, tracking this bill in Photosynthesis, notes:

The Virginia Housing Coalition supports a Housing Trust Fund and is working on a substitute bill with additional co-patrons.

VHC Admin writes:

Despite the fact that the revenue source was removed in Housing Subcommittee of General Laws, HB121 does several important things:
• It makes clear that Virginia has a commitment to affordable housing and puts a Housing Trust Fund structure in state law. Housing Trust Funds (unlike the short lived Housing Partnership Fund from the early 90s) have dedicated, reliable sources of funding. In future sessions of the General Assembly, we want the conversation to focus on a funding source, not whether we need an HTF. The current language in existing statute is obsolete and from a different era (1989) - this bill will update and align this housing resource with the Governor's Housing Framework and his commitment to reducing homelessness.
• It makes clear that a quarter of the funding will go to goal of eliminating homelessness in the state by providing support for rapid re-housing, temporary rental assistance, and permanent supportive housing.
• It makes clear that the fund will serve areas with extreme shortages of affordable housing and will include rural housing initiatives (this is especially important given drastic reductions in HOME funds that support programs like Indoor Plumbing).