2024 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Bulova
Capitalize the Housing Revitalization Zone Fund

Item 102 #26h

Item 102 #26h

First Year - FY2025 Second Year - FY2026
Commerce and Trade
Department of Housing and Community Development FY2025 $3,500,000 FY2026 $0 GF

Page 97, line 38, strike "$297,250,885" and insert "$300,750,885".

Page 99, after line 39, insert:

"M. Out of this appropriation, $3,500,000 the first year from the general fund is provided for the Housing Revitalization Zone Fund."


(This amendment capitalizes the Housing Revitalization Zone Fund with $3.5 million in fiscal year 2025, which was created in 2000 for providing additional housing revitalization benefits in 20 zones designated by the Governor. Zones must meet at least one of the following criteria: have per capita income below 80 percent of the median per capita income for the planning district or have a residential vacancy rate that is at least 120 percent of the average vacancy rate for the planning district. No more than 10 percent of the locality's land area may be in a single housing revitalization zone. No previous funding has been provided for the Fund.)