HB 338/FN/LM (BR 164) - J. Wayne, C. Siler, C. Belcher, T. Burch, De. Butler, M. Cherry, L. Clark, H. Collins, J. Crenshaw, M. Denham, T. Edmonds, B. Farmer, D. Graham, J. Gray, W. Hall, C. Hoffman, D. Horlander, J. Jenkins, D. Keene, Ji. Lee, M. Marzian, T. McKee, C. Meade, R. Meeks, C. Miller, R. Nelson, S. Nunn, D. Owens, R. Palumbo, D. Pasley, T. Pullin, S. Riggs, T. Riner, B. Smith, K. Stein, T. Thompson, M. Weaver, R. Webb, R. Weston, S. Westrom, R. Wilkey, B. Yonts
AN ACT relating to affordable housing and making an appropriation therefor.
Amend KRS 142.010 to add to the taxes imposed a fee of $20 on each first mortgage and a fee of $20 on each conveyance of real property; specify that those fees shall be reported and paid by the Department of Revenue to the state affordable housing trust fund established in KRS 198A.710 within 10 days following the receipt of the funds from the county clerk; amend KRS 142.015 to conform; amend KRS 198A.710 to specify that the affordable housing trust fund shall consist of funds collected from the new fees imposed; create new sections of KRS Chapter 198A to permit the fiscal court or legislative body of a county to establish a local affordable housing trusting fund (AHTF) through the adoption of an ordinance; vest control and management of local AHTF to a board of directors; outline requirements and duties of board; list board membership guidelines; allow fiscal court or legislative body to adopt an ordinance to impose a local recording fee of not more than $10 per transaction on identified transactions against which fees are collected by the county clerk pursuant to KRS 64.012; allow fiscal court or legislative body, in addition to the other fees permitted, to adopt an ordinance to increase fees imposed pursuant to KRS 198B.060(18) and KRS 67.410 by up to $0.04 per square foot, or an equivalent amount for fees determined on a different base, for local AHTF funding; require these fees to be remitted to the local AHTF board every 3 months; specify that funds from the local AHTF shall be used to assist very low income households as defined in KRS 198A.700; require a minimum of 20% of all funding to be used to assist households earning 30% or less of the area median income for Kentucky as determined by HUD; require the local AHTF board, in consultation with the local legislative body, to contract with an agency or organization to administer the local AHTF; list eligible activities for funding; identify eligible organizations for funding; list deed restrictions for very low-income housing units; require compliance with HUD antidisplacement and relocation regulations; require compliance with all local, state, and national anti discrimination laws; identify how a local AHTF may be dissolved; add the new fees imposed by Section 5 of this Act to the list of fees paid to county clerks; require clerk to remit the fees back to the local AHTF; amend KRS 64.012 to require the county clerk to collect the local AHTF fees and remit the fees back to the local AHTF; provide that Sections 4 to 9 of this Act take effect July 1, 2007; APPROPRIATION.
HB 338 - AMENDMENTS
HCS (1/FN/LM) - Retain original provisions; add new language to require the Department of Revenue to annually deposit into the Kentucky affordable housing trust fund all moneys in excess of $7 million received as delinquent property tax collections under KRS Chapter 134; specify that a county, urban-county, charter county, or consolidated local government that has established a local affordable housing trust fund shall be eligible to receive an annual allocation from the fund deposited to the Kentucky affordable housing trust fund; allocate funds to each eligible local affordable housing trust fund by multiplying the total amount of funds available by the percentage representing the amount of delinquent property taxes collected for properties located within the jurisdiction of the local government in proportion to the total annual amount of delinquent property taxes collected under KRS Chapter 134; exclude local governments that do not establish a local affordable housing trust fund from receiving delinquent tax property tax collection funds; amend KRS 142.010 to reduce the two $20 fee increases to $10 and specify that the fee shall be on all mortgages not first mortgages only; delete the sections detailing board makeup and duties and dissolution procedures; specify that the fiscal court or legislative body of a county may establish a local affordable housing trust fund through the adoption of an ordinance; amend KRS 198A.715 and KRS 154A.110 to conform.
HCS (2/FN/LM) - Retain provisions of original bill; clarify that transfers from the delinquent property tax collections will begin in fiscal year 2006 - 2007, and that the transfers will be made within 60 days of the close of the fiscal year; define "delinquent property tax collections"; clarify the formula for distributions to local affordable housing trust funds; make technical corrections to conform.
HCA (1, H. Moberly Jr) - Implement reporting requirements for the use of certain funds.
HFA (1, S. Brinkman) - Require 60 percent of the fees collected under subsection (2) of Section 2 each calendar year to be remitted to the county from which the fees were collected; require the Kentucky Housing Corporation to submit a written report to the LRC every two years indicating the total amount of funds received for the state and local Affordable Housing Trust Fund by each county from the fees collected under Sections 1 and 2 of this Act, and providing a detailed list of how each participating county is using the funds collected by Sections 1 and 2 of this Act.
HFA (2, S. Brinkman) - Require the Kentucky Housing Corporation to submit a written report to the LRC every two (2) years indicating the total amount of funds received for the state and local Affordable Housing Trust fund by each county from the fees collected under Sections 1 and 2 of this Act; provide a detailed list of how each participating county is using the funds collected by Sections 1 and 2 of this Act.
Jan 12-introduced in House
Jan 13-to Local Government (H)
Jan 17-posted in committee
Feb 14-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 15-2nd reading, to Rules; recommitted to Appropriations and Revenue (H)
Feb 21-posting waived retroactively; reported favorably, to Rules with Committee Substitute (2), committee amendment (1)
Feb 22-posted for passage in the Regular Orders of the Day for Thursday, February 23, 2006; floor amendment (1) filed to Committee Substitute
Feb 23-floor amendment (2) filed to Committee Substitute (2) ; 3rd reading, passed 83-15 with Committee Substitute (2), committee amendment (1)
Feb 24-received in Senate
Feb 28-to Banking and Insurance (S)