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2018 SESSION
18100825DPatrons-- McQuinn, Adams, D.M., Bagby, Boysko, Delaney, Gooditis, Hope, Jones, J.C., Lopez, Plum, Price, Simon and Tyler; Senator: Locke
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 36-55.30:4 as follows:
§ 36-55.30:4. Pilot program; home ownership for low income persons.
A. As used in this section, "low-income person" means a person who is a member of a household with a gross annual income equal to or less than 125 percent of the poverty standard accepted by the federal agency designated to establish poverty guidelines.
B. The Authority shall develop a pilot program providing support services, including counseling and financing assistance, to facilitate the transition of low-income persons who are currently renters to become home owners.