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House Bill 1392


House Bill 1392

ARCHIVE (2001)

Latest Information

 

DIGEST OF HB1392 (Updated February 26, 2001 4:54 PM - DI 84)


Indiana affordable housing fund. Specifies that the housing trust fund and the Indiana affordable housing fund are not part of the state treasury. Allows the Indiana housing finance authority, rather than the treasurer of state, to invest certain money in the funds. Allows the authority to distribute money from the Indiana affordable housing fund directly to the housing trust fund, rather than having to distribute the money first to the treasurer of state. Instead of requiring a monthly distribution from the affordable housing fund to the housing trust fund, requires the authority to distribute money in a timely manner after the money is received into the affordable housing fund. Provides that the purpose of the affordable housing fund is to provide grants only, rather than grants and loans, to eligible entities for the establishment of local housing trust funds. Provides that if an eligible entity has a population of less than 2,500, it shall appoint only one member, instead of five, to represent the community at large on its affordable housing fund advisory committee.
Current Status:
 In Committee - 2nd House
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