Bill Text: CT HB05398 | 2016 | General Assembly | Comm Sub
Bill Title: An Act Concerning Funding To Administer Connecticut Housing Investment Fund Programs.
Sponsorship: Committee Bill
Status: (Introduced - Dead) 2016-03-14 - Favorable Change of Reference, House to Committee on Appropriations [HB05398 Detail]
Download: Connecticut-2016-HB05398-Comm_Sub.html
General Assembly |
Substitute Bill No. 5398 | |
February Session, 2016 |
*_____HB05398HSGAPP031016____* |
AN ACT CONCERNING FUNDING TO ADMINISTER CONNECTICUT HOUSING INVESTMENT FUND PROGRAMS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective July 1, 2016) The sum of five million dollars is appropriated to the Department of Housing, for Other Expenses, from the General Fund to be distributed by said department as follows: (1) One million dollars in the fiscal year ending June 30, 2017, (2) two million dollars in the fiscal year ending June 30, 2018, and (3) two million dollars in the fiscal year ending June 30, 2019, as a grant-in-aid in each of said fiscal years to the Connecticut Housing Investment Fund, a community housing development corporation chartered under section 8-218f of the general statutes, or its successor in interest, for the purpose of administering the aging in place loan program.
Sec. 2. (NEW) (Effective July 1, 2016) That the sum of three million dollars is appropriated to the Department of Housing, for Other Expenses, from the General Fund to be distributed by said department as follows: (1) One million dollars in the fiscal year ending June 30, 2017, (2) one million dollars in the fiscal year ending June 30, 2018, and (3) one million dollars in the fiscal year ending June 30, 2019, for the purpose of providing loan loss guarantees in each of said fiscal years to the entity that is the successor in interest to the Connecticut Housing Investment Fund and two other corporations, all chartered as community housing development corporations under section 8-218f of the general statutes, after the merger of such corporations.
Sec. 3. (NEW) (Effective July 1, 2016) The sum of ____ dollars is appropriated to the Department of Housing, for Other Expenses, from the General Fund for the fiscal year ending June 30, 2017, for deposit into the Rental Housing Revolving Loan Fund, established under section 8-37vv of the general statutes, for the purpose of providing low interest loans in accordance with subsection (c) of said section.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
July 1, 2016 |
New section |
Sec. 2 |
July 1, 2016 |
New section |
Sec. 3 |
July 1, 2016 |
New section |
Statement of Legislative Commissioners:
The effective date table was modified for accuracy.
HSG |
Joint Favorable Subst.-LCO C/R |
APP |