1490-S AMH ARMS OSBO 055

SHB 1490 - H AMD TO H AMD (1490-S AMH NELS H2585.4) 306

By Representative Armstrong

NOT CONSIDERED 4/26/2009

    On page 33, after line 14 of the striking amendment, insert the following:

    "(4) If no new affordable housing units are created through the use of a transit-oriented housing fund within three years of the establishment of such fund, then all remaining funds must be distributed to a local housing assistance program to be designated by the local legislative authority and the account containing the funds closed."

EFFECT:  Requires that all remaining funds be distributed to a local housing assistance program  and the account containing the funds be closed if no new affordable housing units are created within three years of the establishment of a transit-oriented housing fund. 

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