HB1159:

Virginia Housing Trust Fund; recommendations for increase in allocation of funds.

Bill Summary:

Virginia Housing Trust Fund; recommendations
for increase in allocation of funds; certain low-income and moderate-income
families. Directs the Department of Housing and Community Development
to convene a stakeholder work group 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 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 and to report its findings
and 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.