Virginia Housing Partnership Revolving Fund; renamed Virginia Housing Trust Fund, report. (HB2005)

Introduced By

Del. Alfonso Lopez (D-Arlington) with support from 30 copatrons, whose average partisan position is:

Those copatrons are Del. Mamye BaCote (D-Newport News), Del. Bob Brink (D-Arlington), Del. David Bulova (D-Fairfax), Del. Betsy Carr (D-Richmond), Del. Eileen Filler-Corn (D-Fairfax Station), Del. Charniele Herring (D-Alexandria), Del. Daun Hester (D-Norfolk), Del. Patrick Hope (D-Arlington), Del. Algie Howell (D-Norfolk), Del. Matthew James (D-Portsmouth), Del. Joseph Johnson (D-Abingdon), Del. Mark Keam (D-Vienna), Del. Kaye Kory (D-Falls Church), Del. Rob Krupicka (D-Alexandria), Del. Delores McQuinn (D-Richmond), Del. Joe Morrissey (I-Highland Springs), Del. Ken Plum (D-Reston), Del. Jim Scott (D-Merrifield), Del. Mark Sickles (D-Alexandria), Del. Luke Torian (D-Woodbridge), Del. David Toscano (D-Charlottesville), Del. Roslyn Tyler (D-Jarratt), Del. Jeion Ward (D-Hampton), Del. Onzlee Ware (D-Roanoke), Del. Vivian Watts (D-Annandale), Sen. Roz Dance (D-Petersburg), Sen. Lynwood Lewis (D-Accomac), Sen. Jennifer McClellan (D-Richmond), Sen. Lionell Spruill (D-Chesapeake), Sen. Scott Surovell (D-Mount Vernon)

Progress

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

Description

Virginia Housing Partnership Revolving Fund. Renames the Virginia Housing Partnership Revolving Fund to the Virginia Housing Trust Fund and codifies language in the latest appropriations act in which $7 million was appropriated to the Fund. The bill provides that The Department of Housing and Community Development shall (i) work in collaboration with the Virginia Housing Development Authority (HDA) to provide loan origination and servicing activities as needed to carry out the purposes of the Fund, with the costs of such services to be considered an eligible use of the Fund; and (ii) use, through HDA, at least 80 percent of the moneys from the Fund to provide flexible financing for low-interest loans through eligible organizations. Such loans shall be structured to maximize leveraging opportunities. All such funds shall be repaid to the credit of the Fund. Loans may be provided for (a) affordable rental housing to include new construction, rehabilitation, repair, or acquisition of housing to assist low or moderate income citizens, including land and land improvements; (b) down payment and closing cost assistance for homebuyers; and (c) short-term, medium-term, and long-term loans to reduce the cost of homeownership and rental housing. The bill also allows the Department to use up to 20 percent of the moneys from the Fund to provide grants through eligible organizations for targeted efforts to reduce homelessness, including (1) temporary rental assistance, not to exceed one year; (2) housing stabilization services in permanent supportive housing for homeless individuals and homeless families; (3) mortgage foreclosure counseling targeted at localities with the highest incidence of foreclosure activity; and (4) predevelopment assistance for permanent supportive housing and other long-term housing option for the homeless. The bill contains technical amendments. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/09/2013Committee
01/09/2013Prefiled and ordered printed; offered 01/09/13 13103357D
01/09/2013Referred to Committee on General Laws
01/22/2013Assigned GL sub: #1 Housing
01/23/2013Impact statement from DPB (HB2005)
01/23/2013Subcommittee recommends reporting with amendment(s) (7-Y 0-N)
01/24/2013Reported from General Laws with substitute (22-Y 0-N) (see vote tally)
01/24/2013Committee substitute printed 13104500D-H1
01/24/2013Referred to Committee on Appropriations
01/28/2013Assigned App. sub: Economic Development, Agriculture and Natural Resources
01/30/2013Impact statement from DPB (HB2005H1)
01/31/2013Subcommittee recommends reporting with amendment(s) (8-Y 0-N)
02/01/2013Reported from Appropriations with substitute (22-Y 0-N) (see vote tally)
02/01/2013Committee substitute printed 13104819D-H2
02/02/2013Read first time
02/04/2013Read second time
02/04/2013Committee on General Laws substitute rejected 13104500D-H1
02/04/2013Committee on Appropriations substitute agreed to 13104819D-H2
02/04/2013Engrossed by House - committee substitute HB2005H2
02/05/2013Read third time and passed House BLOCK VOTE (100-Y 0-N)
02/05/2013VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
02/06/2013Constitutional reading dispensed
02/06/2013Referred to Committee on General Laws and Technology
02/08/2013Impact statement from DPB (HB2005H2)
02/18/2013Reported from General Laws and Technology (13-Y 1-N) (see vote tally)
02/19/2013Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/20/2013Read third time
02/20/2013Passed Senate (40-Y 0-N) (see vote tally)
02/23/2013Enrolled
02/23/2013Bill text as passed House and Senate (HB2005ER)
02/23/2013Signed by Speaker
02/23/2013Signed by President
02/25/2013Signed by President
03/25/2013Governor's recommendation received by House
04/02/2013Placed on Calendar
04/03/2013G Approved by Governor-Chapter 754 (effective 7/1/13)
04/03/2013House concurred in Governor's recommendation (92-Y 1-N)
04/03/2013VOTE: ADOPTION (92-Y 1-N) (see vote tally)
04/03/2013Senate concurred in Governor's recommendation (40-Y 0-N) (see vote tally)
04/03/2013G Governor's recommendation adopted
04/03/2013Reenrolled
04/03/2013Reenrolled bill text (HB2005ER2)
04/03/2013Signed by Speaker as reenrolled
04/03/2013Signed by President as reenrolled
04/03/2013Enacted, Chapter 754 (effective 7/1/13)
04/03/2013G Acts of Assembly Chapter text (CHAP0754)
11/01/2013Impact statement from DPB (HB2005ER)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 2 minutes.

Comments

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

This bill will "codify" the Housing Trust Fund. Last year, we were successful in getting the General Assembly and the Governor to create a Virginia Housing Trust Fund and to make an initial appropriation of $7 million. This was done near the end of the session in the Budget Bill. This bill will take the language from last year's Budget Bill and place it into state code. It will replace the 23 year old language from the Housing Partnership Fund and update it with the priorities that were established last year by the General assembly and the Governor. This includes specifying that up to 20% of the funds should be in the form of grants and that a priority for these grants should be the reduction of homelessness. We strongly support making sure that these new priorities are reflected in state code.
The Virginia Housing Coalition strongly supports this bill -- it should be considered as a "procedural fix" that will ensure that we have the right vehicle in state code for these funds to be deposited into on July 1.