HB 1206-1_ Filed 01/30/2001, 12:04
Your Committee on Human Affairs , to which was referred House Bill 1206 , has
had the same under consideration and begs leave to report the same back to the House with the
recommendation that said bill be amended as follows:
SOURCE: Page 1, line 1; (01)AM120601.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 5-20-5-15.5; (01)AM120601.1. -->
"SECTION 1. IC 5-20-5-15.5 IS ADDED TO THE INDIANA
CODE AS A NEW SECTION TO READ AS FOLLOWS
[EFFECTIVE JANUARY 1, 2002]: Sec. 15.5. (a) The governing body
of an eligible entity that receives a grant under this chapter shall,
by resolution, establish an affordable housing fund to be
administered, subject to the terms of the resolution, by a
department, a division, or an agency designated by the governing
(b) The affordable housing fund consists of:
(1) payments in lieu of taxes deposited in the fund under
(2) gifts and grants to the fund;
(3) investment income earned on the fund's assets; and
(4) other funds from sources approved by the commission.
(c) The governing body shall, by resolution, establish uses for
the affordable housing fund. However, the uses must be limited to:
(1) providing financial assistance to those individuals and
families whose income is at or below eighty percent (80%) of
the county's median income for individuals and families,
respectively, to enable those individuals and families to
purchase or lease residential units within the county;
(2) paying expenses of administering the fund;
(3) making grants, loans, and loan guarantees for the
development, rehabilitation, or financing of affordable
housing for individuals and families whose income is at or
below eighty percent (80%) of the county's median income for
individuals and families, respectively, including the elderly,
persons with disabilities, and homeless individuals and
(4) providing technical assistance to nonprofit developers of
(d) The county treasurer shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public funds may be invested.".
SOURCE: Page 1, line 7; (01)AM120601.1. -->
Page 1, line 7, delete "(1)".
Page 1, line 7, strike "the real property is owned by an Indiana
Page 1, line 8, delete "(2)" and insert " (1)
Page 1, line 12, delete "(3)" and insert " (2)
Page 1, line 15, delete "(4)" and insert " (3)
Page 2, line 19, delete "." and insert " , if the improvements that
qualify the real property for an exemption were begun or acquired
after December 31, 2001.
Page 2, line 33, delete "low income housing trust fund" and insert
" affordable housing fund
Page 2, line 33, delete "IC 5-20-4" and insert " IC 5-20-5-15.5.
Renumber all SECTIONS consecutively.
(Reference is to HB 1206 as introduced.)
and when so amended that said bill do pass.
AM120601/DI 98 2001