SB 815 — AN ACT MAKING MINOR REVISIONS TO STATUTES REGARDING BOND-FINANCED HOUSING PROGRAMS AND THE HOMELESSNESS PREVENTION AND RESPONSE FUND AND REQUIRING LEGISLATIVE APPROVAL OF QUALIFIED ALLOCATION PLANS.

AN ACT MAKING MINOR REVISIONS TO STATUTES REGARDING BOND-FINANCED HOUSING PROGRAMS AND THE HOMELESSNESS PREVENTION AND RESPONSE FUND.FUND AND REQUIRING LEGISLATIVE APPROVAL OF QUALIFIED ALLOCATION PLANS.

General Assembly   RaisedSubstitute Bill No.

815 January Session, 2017   LCO*_____SB00815HSG___030817____* No.AN ACT MAKING MINOR REVISIONS TO STATUTES REGARDING BOND-FINANCED HOUSING PROGRAMS AND THE HOMELESSNESS PREVENTION AND RESPONSE FUND AND REQUIRING LEGISLATIVE APPROVAL OF QUALIFIED ALLOCATION PLANS.

4041   *04041_______HSG* Referred to Committee on HOUSING   Introduced by:

  (HSG)   AN ACT MAKING MINOR REVISIONS TO STATUTES REGARDING BOND-FINANCED HOUSING PROGRAMS AND THE HOMELESSNESS PREVENTION AND RESPONSE FUND.

Sec.

3.

(NEW) (Effective October 1, 2017) Each fiscal year, the Connecticut Housing Finance Authority shall publish the qualified allocation plan for the Low Income Housing Tax Credit program pursuant to Section 42 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time.

Not later than forty-five days prior to publishing such plan, the Connecticut Housing Finance Authority shall submit such plan to the joint standing committee of the General Assembly having cognizance of matters relating to housing for approval.

The committee shall have not more than thirty days from the date such plan is received to convene a meeting to vote to approve or disapprove of such plan or to notify the Connecticut Housing Finance Authority, in writing, that the committee is waiving its right to convene a meeting.

If such plan is withdrawn, altered, amended or otherwise changed, the Connecticut Housing Finance Authority shall resubmit a revised plan, and the committee shall have not more than thirty days from the date of such resubmittal to convene a meeting to vote to approve or disapprove of such plan or to notify the Connecticut Housing Finance Authority, in writing, that the committee is waiving its right to convene a meeting.

If the committee does not act on the initial submission or resubmittal of the plan, as the case may be, within such thirty-day period or notifies the Connecticut Housing Finance Authority that the committee is waiving its right to convene a meeting prior to the expiration of such thirty-day period, the plan shall be deemed to be approved by the committee.

2 October 1, 2017 8-37mm StatementSec. of Purpose:

To3 redefineOctober "administrative1, expense"2017 forNew purposessection ofHSG certainJoint bondFavorable financedSubst. housing programs and to make minor revisions to the statute concerning the homelessness prevention response fund.

[Proposed deletions are enclosed in brackets.

Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]