HB 790 Virginia Housing Partnership Revolving Fund; renamed Virginia Housing Trust Fund.
Alfonso H. Lopez | all patrons    ...    notes
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Summary as introduced:
Virginia Housing Partnership Revolving Fund. Renames the Virginia Housing Partnership Revolving Fund to the Virginia Housing Trust Fund. The bill provides that 20 percent of the moneys deposited in the Fund in any fiscal year shall be used by the Department for grants for the construction of new or rehabilitation of existing housing units, rental assistance to individuals and families experiencing homelessness, and other appropriate assistance to facilitate the achievement of housing stability. Under the bill, moneys in the Fund are derived from 10 percent of the annual general fund revenue collections that are in excess of the official estimates in the general appropriation act and 10 percent of any unreserved general fund balance at the close of each fiscal year whose reappropriation is not required in the general appropriation act. The Fund also consists of such other sums as may be made available to it from any other source, public or private, and shall include federal grants solicited and received for the specific purposes of the Fund. The bill contains technical amendments.

Full text:
01/11/12  House: Prefiled and ordered printed; offered 01/11/12 12103272D  pdf | impact statement

Status:
01/11/12  House: Prefiled and ordered printed; offered 01/11/12 12103272D
01/11/12  House: Referred to Committee on General Laws
01/17/12  House: Assigned GL sub: #1 Housing
02/08/12  House: Subcommittee recommends incorporating (HB121-Morrissey) by voice vote
02/09/12  House: Incorporated by General Laws (HB121-Morrissey) by voice vote