2023 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Marshall
HB 1411: Community Development Financial Institution Fund

Item 115 #16h

Item 115 #16h

First Year - FY2023 Second Year - FY2024
Commerce and Trade
Department of Housing and Community Development FY2023 $0 FY2024 $30,000,000 GF

Page 109, line 16, strike "$187,160,442" and insert "$217,160,442".

Page 114, line 38, after "1." strike remainder of the line and insert:

"Out of this appropriation, $30,000,000 the second year from the general fund is provided to effectuate the provisions of House Bill 1411 of the 2023 General Assembly and capitalize the Community Development Financial Institutions Fund."

Page 112, strike lines 39 through 42.


(This amendment provides $30.0 million in fiscal year 2024 from the general fund to recapitalize the Community Development Financial Institution Fund to invest in community projects and community revitalization real estate projects in the Commonwealth. House Bill 1400 of the 2023 General Assembly proposes to make this fund permanent. Currently, authorization for the continuation this fund resides with the budget and this amendment removes this authorizaiton.)