GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1991

S	1 

SENATE BILL 175

Short Title:  Homelessness Prevention/Funds.	(Public)
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Sponsors: Senators Richardson, Ballance, Daughtry, and Tally.
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Referred to:  Appropriations.
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February 21, 1991

A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS TO THE HOUSING FINANCE AGENCY TO AID IN THE PREVENTION OF HOMELESSNESS.
The General Assembly of North Carolina enacts:
Section 1.  There is appropriated from the General Fund to the North Carolina Housing Finance Agency the sum of $500,000 for the 1991-92 fiscal year and the sum of $500,000 for the 1992-93 fiscal year to establish within the Agency's Multifamily Rental Assistance Fund a revolving loan fund to enable people facing imminent eviction from their primary residence to borrow rent.  The Agency shall adopt rules to administer this fund, including eligibility requirements for the loan, the number of months' rent that the same person may borrow, the limit, if any, on the amount that may be borrowed, and the specific requirements with regards to repayment.
Sec. 2.  There is appropriated from the General Fund to the North Carolina Housing Finance Agency the sum of $500,000 for the 1991-92 fiscal year and the sum of $500,000 for the 1992-93 fiscal year for the Housing Trust Fund, to be designated for loans to finance specifically emergency and transitional housing.  The Agency shall consult with the Department of Economic and Community Development and the Department of Human Resources in administering this section.
Sec. 3.  There is appropriated from the General Fund to the North Carolina Housing Finance Agency the sum of $5,000,000 for the 1991-92 fiscal year and the sum of $5,000,000 for the 1992-93 fiscal year for the Housing Trust Fund, to establish a revolving loan fund for public or private nonprofit agencies and individuals to develop affordable housing to low-income and very low-income families.  Loans may be used for conversion of existing housing stock and for the development of new housing units.  The Agency shall adopt rules to administer this fund, including rules giving preference to applicants using existing housing stock.  The Agency shall inventory publicly owned lands and buildings to identify those properties suitable for development into low-income and very low-income housing.
Sec. 4.  The North Carolina Housing Finance Agency shall report on the use of the funds appropriated by this act to the Legislative Research Commission's Study Committee on Homeless Persons, if reauthorized, to the Joint Legislative Commission on Governmental Operations, and to the Fiscal Research Division by October 31, 1991.  The funds appropriated by this act shall be subject to the provisions of the Executive Budget Act.  Subsequent appropriations for these purposes shall be included in the Agency's continuation budget request.
Sec. 5.  The North Carolina Housing Finance Agency shall adopt rules to administer this act.
Sec. 6.  This act becomes effective July 1, 1991.