| SB 0580 | Establishes the lifetime home grant program which is funded by an additional $1 fee on real estate instruments |
| Sponsor: | Wheeler | |||
| LR Number: | 1774S.02I | Fiscal Note: | 1774-02 | |
| Committee: | Small Business, Insurance & Industrial Relations | |||
| Last Action: | 04/23/03 - SCS Voted Do Pass S Small Business, Insurance and | Journal page: | ||
| Industrial Relations Committee (1774S.03C) | ||||
| Title: | SCS SB 580 | |||
| Effective Date: | August 28, 2003 | |||
SCS/SB 580 - This act establishes the lifetime home grant
program. Under this act, an additional fee of $1 will be charged
on real estate instruments. These additional fees will be
deposited in a newly created fund known as the Lifetime Home
Fund. This fund shall be administered by the Missouri Housing
Development Commission. Beginning January 1, 2004, individuals
who build a universally designed lifetime home may apply for a
payment from the fund in the amount of $5,000. This act also
allows an individual to qualify for a lifetime home grant, up to
$5,000, by renovating a qualified existing residence.
STEPHEN WITTE