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2007 SESSION

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HB 3002 Affordable housing; investment of funds.

Introduced by: James M. Scott | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Investment of funds; affordable housing.  Allows localities to consider the investment activities of qualifying institutions that enhance the accessibility of affordable housing to local employees in determining the award of any contract for time deposits or investment of their funds.

SUMMARY AS INTRODUCED:

Investment of funds; affordable housing.  Removes the requirement that a locality enact an affordable dwelling unit ordinance prior to providing a preference for community reinvestment activities in contracts for investment of the locality's funds. The bill also allows localities to consider the investment activities of qualifying institutions that enhance the accessibility of affordable housing to local employees in determining the award of any contract for time deposits or investment of their funds.