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2012 SPECIAL SESSION I

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(HB1300)

AMENDMENT(S) PROPOSED BY THE HOUSE APPROPRIATIONS

AMENDMENTS PRINTED SEPARATELY

AMENDMENT(S) PROPOSED BY THE HOUSE

DEL. SUROVELL

    Page 27, item 99 #1h, introduced

        Commerce and Trade                     FY 10-11                   FY 11-12

            Department of Housing and

            Community Development                    $0                     $68,900,000   GF

        Page 27, line 29

      strike

        $48,533,821

      insert

        $117,433,821

        Page 27, after line 29

      insert

        F.  Out of the amounts for this item, $68,900,000 the second year is provided from the Mortgage Servicing Settlement Agreement for the creation of the Virginia Housing Trust Fund by deposit into the existing Virginia Housing Partnership Revolving Fund.

      Explanation:

        (This amendment provides $68.9 million GF for creation of a Virginia Housing Trust Fund.  These general funds are derived from the Commonwealth's one-time payment under the Mortgage Servicing Settlement Agreement and are deposited into the existing Virginia Housing Partnership Revolving fund (COV 36-141 to 36-151), a permanent and perpetual fund to support affordable housing.  It is the intent of the General Assembly that this Item be set out upon enrolling of House Bill 1300.)

DEL. MARSHALL R.

    Page 27, item 99 #1h, introduced

        Commerce and Trade                     FY 10-11                   FY 11-12

            Department of Housing and

            Community Development                    $0                     $68,900,000   GF

        Page 27, line 29

      strike

        $48,533,821

      insert

        $117,433,821

        Page 27, after line 29

      insert

        F.  Out of the amounts for this item, $68,900,000 the second year is provided from the Mortgage Servicing Settlement Agreement for the creation of the Virginia Housing Trust Fund by deposit into the existing Virginia Housing Partnership Revolving Fund.