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2022 SESSION

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22100357D
HOUSE BILL NO. 1159 Offered January 14, 2022 A BILL to direct the Department of Housing and Community Development to convene a work group to determine an appropriate increase in the allocation of funds under the Virginia Housing Trust Fund for certain low-income and moderate-income families. ---------- Patron-- Lopez ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1. § 1.That the Department of Housing and Community Development shall convene a work group consisting of stakeholders, to include representatives from each region of the Commonwealth, to determine an appropriate increase in the percentage of moneys from the Virginia Housing Trust Fund that is used to provide flexible financing for low-interest loans through eligible organizations pursuant to § 36-142 of the Code of Virginia that are allocated to housing developments that serve persons and families with a household income at or below 30 percent of the adjusted median income. The work group shall report its findings and recommendations, including any legislative recommendations, to the Governor, the Secretary of Commerce and Trade, and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations on or before December 1, 2022.