Requests the Senate Committee on Local and Municipal Affairs to study and make recommendations on how to establish recurring funding for the Louisiana Housing Trust Fund.
Impact
Historically, the Louisiana Housing Trust Fund received a one-time allocation of $25 million in 2007, resulting in significant outcomes such as the construction of 323 homes and the creation of 463 jobs. However, since then, there have been no additional allocations, which has hampered the ability of the fund to continue meeting the growing demand for affordable housing. The proposed resolution seeks to create a continuous stream of funding which would not only benefit low-income families but also stimulate economic activity in communities across the state.
Summary
Senate Resolution 120 (SR120) aims to address the funding challenges faced by the Louisiana Housing Trust Fund, which was established by Act 734 in 2003. This resolution calls upon the Senate Committee on Local and Municipal Affairs to study and make recommendations for establishing a recurring funding mechanism for the Trust Fund. The intention is to enhance the financial resources available to support the development, rehabilitation, and preservation of affordable housing for low-income individuals and families across Louisiana, thereby addressing issues of homelessness and housing accessibility.
Sentiment
The sentiment surrounding SR120 is largely positive among housing advocates and organizations, who view it as a crucial step towards ensuring that affordable housing remains a priority for the state. The ability to secure recurring funding is seen as essential for the Trust Fund to continue its mission. While there is support for SR120, discussions may still arise around the mechanisms for funding and the broader implications for state budgets and resource allocation.
Contention
There may be points of contention regarding how to establish the funding sources for the Louisiana Housing Trust Fund. In past discussions, stakeholders have raised concerns over potential impacts on state finances, prioritization of housing versus other needs, and the methods through which funds would be raised. As the Senate Committee investigates these aspects, they will need to balance the goal of enhancing housing accessibility with fiscal responsibility.
Requests the Senate Committee on Local and Municipal Affairs to convene a study group to assess affordable housing needs in our state and to research best practices and model programs to identify potential recurring revenue streams for the Louisiana Housing Trust.
To urge and request the Senate Committee on Local & Municipal Affairs and the House Committee on Municipal, Parochial and Cultural Affairs to function as a joint committee and convene a study group to assess affordable housing needs in our state and to research best practices and model programs to identify potential recurring revenue streams for the Louisiana Housing Trust.
Urges and requests the House Committee on Municipal, Parochial and Cultural Affairs and the Senate Committee on Local and Municipal Affairs to act as a joint committee to assess the need for the creation of a state housing plan and the creation of a council on transportation and housing development
Requests the Senate Committee on Local and Municipal Affairs to study and make recommendations relative to issues related to exploring better ways to effectively deliver growth management techniques to stakeholders and to advance local, regional, and state policies in our state.
Urges and requests the Louisiana Housing Corporation to study issues related to the rising number of homeless individuals in Louisiana and the lack of affordable housing and to identify potential funding sources to address these issues
Requests the House Committee on House and Governmental Affairs and the Senate Committee on Senate and Governmental Affairs to meet and function as a joint committee to study and make recommendations regarding ethics and campaign finance disclosure laws
Requests the Senate Committee on Judiciary B and the Senate Committee on Revenue and Fiscal Affairs to meet jointly to study iGaming and report study findings to the Louisiana Senate.
Requests the Committee on House and Governmental Affairs and the Committee on Senate and Governmental Affairs to study the compensation allocated to each member for legislative assistants and make recommendations relative thereto
Requests the governmental affairs committees of the House of Representatives and Senate to meet and function as a joint committee to make recommendations regarding the establishment of procedures for an initiative process in Louisiana
Requests that the Bd. of Regents and the State Bd. of Elementary and Secondary Education, with the Taylor Foundation, La. Office of Student Financial Assistance, public postsecondary education management boards, and certain others, study certain issues relative to TOPS
Requests the Louisiana Workforce Commission and the Louisiana Department of Veterans Affairs to study employment practices and professional licensing requirements to benefit veterans in the workforce
Creates a task force to study meaningful oversight of the professional healthcare licensing boards statutorily created within the Department of Health and Hospitals.