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2016 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Lopez
HB 972- Dedicate Portion of Recordation Tax to Housing Trust Fund

Item 108 #2h

Item 108 #2h

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Department of Housing and Community Development FY2017 $8,250,000 FY2018 $8,250,000 GF

Language
Page 84, line 35, strike "$55,715,827" and insert "$63,965,827".
Page 84, line 35, strike "$55,715,827" and insert "$63,965,827".

Page 85, line 31, strike "$10,000,000" and "$10,000,000" and insert:

"$18,250,000" and "$18,250,000".



Explanation

(This amendment adjusts the appropriation for the Virginia Housing Trust Fund to reflect passage of House Bill 972 of the 2016 session which dedicates 20% of the revenues from the recordation tax above $325 million to the Fund.)