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words in boldface type and underscored are additions.
Regular Session, 2012 ENROLLED
SENATE BILL NO. 714
BY SENATOR BROOME
AN ACT1
To amend and reenact R.S. 40:600.87(8) and 600.91(A)(18)(c) and (27), to enact R.S.2
40:600.91(A)(28)(b)(ii)(oo), (pp), and (qq) and (E), and to repeal R.S.3
40:600.91(A)(28)(b)(ii)(ii) , relative to the Louisiana Housing Corporation Act; to4
provide for the definition of "persons or families of low or moderate income"; to5
provide for the powers and duties of the corporation; to provide relative to the6
membership of an advisory committee; and to provide for related matters.7
Be it enacted by the Legislature of Louisiana:8
Section 1. R.S. 40:600.87(8) and 600.91(A)(18)(c) and (27) are hereby amended and9
reenacted and R.S. 40:600.91(A)(28)(b)(ii)(oo), (pp), and (qq) and (E) are hereby enacted10
to read as follows: 11
§600.87. Definitions12
The following terms, whenever used or referred to in this Chapter shall have13
the following meanings, unless the context clearly indicates otherwise:14
* * *15
(8) "Persons or families of low or moderate income" means an individual or16
household whose income qualifies as low income or moderate income as defined by17
the United States Department of Housing and Urban Development (HUD) as18
adjusted from time to time. HUD defines low income as any individual or household19
earning less than fifty percent of the area median income. HUD defines moderate20
income as any individual or household earning between fifty percent and eighty21
percent of the area median income. determined from time to time by the22
corporation's board of directors in a manner consistent with federal housing23
programs.24
* * *25
§600.91. Powers and duties of the corporation26
A. The corporation shall have the powers necessary or convenient to carry27
ACT No. 686 SB NO. 714 ENROLLED
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out and effectuate the purposes and provisions of this Chapter, including the1
following powers in addition to all other powers granted by other provisions of this2
Chapter:3
* * *4
(18) In carrying out its functions under this Chapter, the corporation shall5
accomplish all of the following:6
* * *7
(c) The board of directors of the corporation shall establish statewide policy8
for the financing of housing for persons or families of low or moderate income and9
for senior citizens and persons with disabilities and such policy shall apply to all10
units, divisions, agencies, public corporations, and instrumentalities of the state, and11
may include the division of administration, involved directly or indirectly in12
financing single family or multi-family housing for such persons or families.13
* * *14
(27) The corporation shall have all powers necessary to access any and all15
federal funding related to housing. The corporation may access programs funded16
by the Department of Housing and Urban Development's Community17
Development Block Grants.18
(28) * * *19
(b) * * *20
(ii) The commission shall be comprised of the following members:21
* * *22
(oo) The superintendent of the Department of Education, or his23
designee.24
(pp) The secretary of the Department of Economic Development, or his25
designee.26
(qq) One member appointed by the Louisiana Association of Affordable27
Housing Providers.28
* * *29
E. The Louisiana Housing Corporation is authorized and directed to30 SB NO. 714 ENROLLED
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finance mixed-income residential rental developments or homeownership using1
federal housing tax benefits or any other available federal funds or benefits.2
Section 2. R.S. 40:600.91(A)(28)(b)(ii)(ii) is hereby repealed.3
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: