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2008 SESSION
HB 1073 Housing and Community Development, Department of; administration of the Private Activity Bonds.
Introduced by: Terrie L. Suit | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Department of Housing and Community Development; administration of the Private Activity Bonds program. Provides that the administration of the Private Activity Bonds program shall be shared jointly by the Small Business Financing Authority, the Virginia Housing Development Authority, and the Department of Housing and Community Development. The bill also increases the allocations for housing and industrial development. The bill provides that any unused bond authority remaining in any category after the effective period of the allocation set forth in guidelines established by the Director of the Department of Housing and Community Development shall be allocated to the Virginia Housing Development Authority (VHDA) and any unused authority allocated to VHDA shall continue to be allocated to VHDA under certain circumstances.
SUMMARY AS INTRODUCED:
Department of Housing and Community Development; administration of the Private Activity Bonds program. Transfers the administration of the Private Activity Bonds program from the Small Business Financing Authority to the Department of Housing and Community Development. The bill also increases the allocations for housing and industrial development. The bill provides that any unused bond authority remaining in any category after the effective period of the allocation set forth in guidelines established by the Director of the Department of Housing and Community Development shall be allocated to the Virginia Housing Development Authority (VHDA) and any unused authority allocated to VHDA shall continue to be allocated to VHDA under certain circumstances.