Housing Development Grant Fund Administrative Costs

Joint Budget Committee. Current law continuously appropriates to the division of housing (division) within the department of local affairs money from the housing development grant fund (fund) and allows the division to expend 3% of the money in the fund for the administrative costs of the division in administering the fund. Beginning in state fiscal year 2025-26, the bill increases the percentage of money in the fund that the division may expend for administrative costs to 4% and makes expenditure of money from the fund for administrative costs subject to annual appropriation by the general assembly.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)