2022 Special Session I

Budget Amendments - HB30 (Conference Report)

View Budget Item
View Budget Item amendments

Virginia Housing Trust Fund

Item 114 #3c

Item 114 #3c

First Year - FY2023 Second Year - FY2024
Commerce and Trade
Department of Housing and Community Development FY2023 ($50,000,000) FY2024 ($100,000,000) GF

Page 96, line 7, strike "$346,496,495" and insert "$296,496,495".
Page 96, line 7, strike "$396,496,495" and insert "$296,496,495".

Page 96, line 50, strike "$125,000,000" and "$175,000,000" and insert:

"$75,000,000" and "$75,000,000".

Page 97, after line 9, insert:

"3. In any year where claims for the Virginia Housing Opportunity Tax credit exceed revenue loss assumptions in "The Economic Outlook and Revenue Forecast" report (GACRE Report) prepared by the Secretary of Finance and submitted to the General Assembly annually in December (net lost revenues), the Governor is authorized to direct the State Comptroller to transfer an amount equal to these net lost revenues from the Virginia Housing Trust Fund to the general fund."


(This amendment provides $75.0 million in each year from the general fund for the Virginia Housing Trust Fund.)