2023 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Subramanyam
Increase Competitive Loan Pool for Affordable Housing Projects

Item 114 #30h

Item 114 #30h

First Year - FY2023 Second Year - FY2024
Commerce and Trade
Department of Housing and Community Development FY2023 $0 FY2024 $5,000,000 GF

Page 105, line 9, strike "$308,460,495" and insert "$313,460,495".

Page 105, line 54, after "and" strike "$75,000,000" and insert "$80,000,000".

Page 106, after line 22, insert:

"5. Notwithstanding the provisions of § 36-142, Code of Virginia, $5,000,000  the second year from the general fund is directed to competitive loans for affordable housing projects."


(This amendment provides an additional $5.0 million in fiscal year 2024 from the general fund for the Virginia Housing Trust Fund, and directs these additional funds to competitive loans for affordable housing projects.)