2016 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Carr
Co-Patron(s): James, Krizek, McClellan, Peace, McQuinn
Establish the Community Wealth Building Fund

Item 109 #7h

Item 109 #7h

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Department of Housing and Community Development FY2017 $1,000,000 FY2018 $10,000,000 GF

Page 85, line 50, strike "$50,637,001" and insert "$51,637,001".
Page 85, line 50, strike "$64,504,601" and insert "$74,504,601".

Page 88, after line 32, insert:

"Q. Out of the amounts in this item, $1,000,000 the first year and $10,000,000 the second year from the general fund is provided to establish the Community Wealth Building Fund."  


(This amendment provides $1.0 million from the general fund the first year and $10.0 million from the general fund the second year to initiate the Community Wealth Building Fund. Under the proposal the fund would provide grants to localities with high poverty rates, or areas with a high concentration of poverty, that 1.) develop an integrated poverty reduction plan and 2.) who commit a minimum of $200,000 local funds for the plan. Funding for this can be provided by adjusting the revenue projections related to non-withholding income tax that has been limited based on the collar. )