SECOND REGULAR SESSION
SENATE BILL NO. 662
90TH GENERAL ASSEMBLY
INTRODUCED BY SENATOR BLAND.
Pre-filed December 1, 1999, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
2623S.02I
AN ACT
To amend chapter 215, RSMo, by adding one new section relating to the Missouri housing development commission.
Section A. Chapter 215, RSMo, is amended by adding thereto one new section, to be known as section 215.064, to read as follows:
215.064. 1. The general assembly may appropriate state funds to the Missouri housing development commission for the purpose of providing basic operating expenses including but not limited to compensation of agency staff, agency facility expenses and agency staff training for assisting local community housing development organizations, recognized by the Missouri housing development commission, in obtaining and administering federal grant funds pursuant to the federal Home Investment Partnerships program of the National Affordable Housing Act of 1990, U.S.C. Title 42, Section 12701, et seq., as amended. Basic operating expenses shall not include expenditures for specific housing improvements.
2. The commission shall only make grants pursuant to this section to those local community housing development organizations which:
(1) Have been declared tax exempt organizations pursuant to section 501 (c) (3) of the 1986 Internal Revenue Code, as amended;
(2) Have policy determined by a board of directors with at least two-thirds of the board members currently residing in the geographic area served by the agency; and
(3) Have as their primary activity the construction and rehabilitation of residential dwellings affordable to households which have incomes of eighty percent or less of the median income of the geographic area in which the activity occurs. "Geographic area" means the metropolitan area or county designated as an area by the federal Department of Housing and Urban Development pursuant to the United States Housing Act of 1937, U.S.C. Title 42, Section 1401, et seq., as amended, for purposes of determining fair market rental rates.