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2019 Session

Budget Amendments - HB1700 (Member Request)

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Chief Patron: Lopez
Virginia Housing Trust Fund

Item 105 #3h

Item 105 #3h

First Year - FY2019 Second Year - FY2020
Commerce and Trade
Department of Housing and Community Development FY2019 $5,900,000 FY2020 $5,900,000 GF

Language
Page 103, line 17, strike "$80,902,939" and insert "$86,802,939".
Page 103, line 17, strike "$72,673,655" and insert "$78,573,655".

Page 104, line 11, strike "$20,000,000" and insert "$25,900,000".

Page  104, line 12, strike "$10,000,000" and insert "$15,900,000".



Explanation

(This amendment increases funding $5,900,000 from the general fund each year of the biennium for the Virginia Housing Trust Fund by taking 20% of revenues in excess of $325,000,000 from the general fund derived from the state recordation tax.)