HB 1168 Summary

• Amends IC 36-7-15.1-35.5 to expand allowable uses of the Indianapolis housing trust fund effective July 1, 2012.

• Adds a new category of permissible fund uses to support "other programs considered appropriate to meet the affordable housing and community development needs of lower income families and very low income families, including lower income elderly, persons with disabilities, and homeless individuals."

• Maintains existing requirements that at least 50% of housing production, rehabilitation, or purchase dollars serve individuals and families at or below 50% of county area median income.

• Preserves the 11-member low income housing trust fund advisory committee structure to make recommendations on fund policies and long-term capital sources.