| 13 | 25 | | |
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| 14 | 26 | | Be it enacted by the Senate and House of Representatives in General Assembly convened: |
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| 15 | 27 | | |
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| 16 | 28 | | Section 1. Subdivision (2) of subsection (a) of section 8-37qq of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2017): |
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| 17 | 29 | | |
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| 18 | 30 | | (2) "Administrative expense" means any administrative or other cost or expense incurred by the state in carrying out the provisions of any of the following bond-financed state housing programs, including the hiring of necessary employees and the entering of necessary contracts: Housing authority programs for social and supplementary services, affordable housing pursuant to section 8-37pp, project rehabilitation and improvement, and energy conservation pursuant to section 8-44a, moderate rental housing pursuant to section 8-70, moderate cost housing pursuant to section 8-82, housing for elderly persons pursuant to section 8-114a, congregate housing for the elderly pursuant to section 8-119h, housing for low-income persons pursuant to section 8-119dd, urban homesteading pursuant to subsection (a) of section 8-169w, financial assistance for development of limited equity cooperatives and mutual housing pursuant to section 8-214f, financial assistance to elderly homeowners for emergency repairs or rehabilitation pursuant to section 8-219b, home ownership loans pursuant to subsection (a) of section 8-286, financial assistance for the development of quality rental housing and homeownership pursuant to section 8-336p, housing programs for homeless persons pursuant to sections 8-356 and 8-357, private rental investment mortgage and equity program pursuant to sections 8-401 and 8-403, assistance for housing predevelopment costs pursuant to sections 8-410 and 8-411, residential subsurface sewage disposal system repair pursuant to section 8-420, and energy conservation loans pursuant to section 16a-40b. |
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| 19 | 31 | | |
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| 20 | 32 | | Sec. 2. Section 8-37mm of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2017): |
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| 21 | 33 | | |
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| 22 | 34 | | (a) For the purposes described in subsection (b) of this section, the State Bond Commission shall have the power, from time to time to authorize the issuance of bonds of the state in one or more series and in principal amounts not exceeding in the aggregate thirty million dollars, provided fifteen million dollars of said authorization shall be effective July 1, 2016. |
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| 23 | 35 | | |
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| 24 | 36 | | (b) The proceeds of the sale of said bonds, to the extent of the amount stated in subsection (a) of this section shall be [used by the Department of Housing for the purposes of] deposited in a homelessness prevention and response fund and used by the Department of Housing to provide forgivable loans or grants to [(1)] landlords [to] for one or more of the following purposes: (1) To renovate multifamily homes, including performing building code compliance work and other major improvements, [in exchange for the landlord's participation in a rapid rehousing program. A landlord's participation in such program would include, but not be limited to, waiving security deposits and abatement of rent for a designated period; and (2) landlords to renovate multifamily homes, including performing building code compliance work and other major improvements, fund ongoing maintenance and repair, or capitalize operating and replacement reserves in exchange for the abatement of rent by a landlord for scattered site supportive housing units] (2) to fund ongoing maintenance and repair, or (3) to capitalize operating and replacement reserves. In exchange for such forgivable loans or grants, the landlord shall participate in a rapid-rehousing or supportive housing program, which shall include, but need not be limited to, a requirement that the landlord abate rent for a designated period and waive security deposits. |
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| 25 | 37 | | |
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| 26 | 38 | | (c) The Department of Housing may use not more than five per cent of the total allocation for administrative purposes. |
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| 27 | 39 | | |
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| 28 | 40 | | (d) All provisions of section 3-20, or the exercise of any right or power granted thereby, which are not inconsistent with the provisions of this section are hereby adopted and shall apply to all bonds authorized by the State Bond Commission pursuant to this section, and temporary notes in anticipation of the money to be derived from the sale of any such bonds so authorized may be issued in accordance with said section 3-20 and from time to time renewed. Such bonds shall mature at such time or times not exceeding twenty years from their respective dates as may be provided in or pursuant to the resolution or resolutions of the State Bond Commission authorizing such bonds. None of said bonds shall be authorized except upon a finding by the State Bond Commission that there has been filed with it a request for such authorization which is signed by or on behalf of the Secretary of the Office of Policy and Management and states such terms and conditions as said commission, in its discretion, may require. Said bonds issued pursuant to this section shall be general obligations of the state and the full faith and credit of the state of Connecticut are pledged for the payment of the principal of and interest on said bonds as the same become due, and accordingly and as part of the contract of the state with the holders of said bonds, appropriation of all amounts necessary for punctual payment of such principal and interest is hereby made, and the State Treasurer shall pay such principal and interest as the same become due. |
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| 29 | 41 | | |
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| 30 | | - | 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. |
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| 31 | | - | |
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