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AL HB349
Bill
Status
4/19/2011
Primary Sponsor
Patricia Todd
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AI Summary
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Establishes the Alabama Affordable Housing Act, creating a Housing Trust Fund administered by ADECA to increase affordable housing for individuals and families with incomes at or below 60 percent of median family income.
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Creates a 15-member Advisory Committee with representatives from state agencies, nonprofits, and low-income community organizations to advise ADECA on fund policies and operations.
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Requires at least 50 percent of annual fund resources to serve families with incomes at or below 30 percent of median family income, and at least 40 percent of funds for rural and small city housing projects.
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Authorizes ADECA to distribute funds as grants or loans for housing production, rehabilitation, down payment assistance, predevelopment costs, and supportive services for disabled, elderly, veterans, homeless, and other vulnerable populations.
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Fund activities must meet minimum housing quality standards, comply with Americans with Disabilities Act design standards, and maintain affordability requirements consistent with ADECA's HOME Investment Partnership Program rules.
Legislative Description
Housing Trust Fund and Housing Trust Fund Advisory Committee, established to provide housing opportunities for low to moderate income households, members, duties, Economic and Community Affairs Department to administer, Affordable Housing Act
Housing
Last Action
Read for the first time and referred to the Senate committee on Banking and Insurance
4/19/2011