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2024 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Durant
Expand the Virginia Housing Trust Fund to Support Housing Projects Targeted to Middle-Income Virginians

Item 102 #6s

Item 102 #6s

First Year - FY2025 Second Year - FY2026
Commerce and Trade
Department of Housing and Community Development FY2025 $2,500,000 FY2026 $2,500,000 GF

Language
Page 97, line 38, strike "$297,250,885" and insert "$299,750,885".
Page 97, line 38, strike "$297,250,885" and insert "$299,750,885".

Page 98, line 29, strike "$75,000,000" and "$75,000,000" and insert "$77,500,000" and "$77,500,000".

Page 98, at the end of line 34, insert:

"Notwithstanding the foregoing and the provisions of §§ 36-141 through 36.1-151 Code of Virginia, of these funds, $2,500,000 in the first year and $2,500,000 in the second are provided to pilot a program to serve the housing needs of middle-income individuals."  



Explanation

(This amendment provides $2.5 million GF each year for deposit to the Housing Trust Fund, and it includes language directing the funding to establish a pilot program to serve the housing needs of middle-income individuals.)