SLS 15RS-1550 ORIGINAL
2015 Regular Session
SENATE RESOLUTION NO. 120
BY SENATOR BROOME
SENATE. 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.
1 A RESOLUTION
2 To request the Senate Committee on Local and Municipal Affairs to study and make
3 recommendations regarding how to establish recurring funding for the Louisiana
4 Housing Trust Fund.
5 WHEREAS, Act 734 of the 2003 Regular Session of the Legislature created the
6 Louisiana Housing Trust Fund in order to assist low-income individuals and families in
7 accessing affordable housing and to provide for the development, rehabilitation, and
8 preservation of decent, safe, and affordable housing for low-income individuals and families,
9 and to address homelessness; and
10 WHEREAS, in 2007, the Legislature of Louisiana approved a one-time $25 million
11 allocation to the Louisiana Housing Trust Fund; and
12 WHEREAS, of that allocation, $22 million was awarded through the Louisiana
13 Housing Trust Fund to develop affordable homes across Louisiana, and that $22 million
14 resulted in 323 homes being built across Louisiana, created 463 jobs, and generated
15 $31,117,145 in local income, and $3,169,596 in local taxes, according to the Louisiana
16 Housing Alliance; and
17 WHEREAS, using that one-time $25 million allocation, the Louisiana Housing
18 Corporation which administers the Louisiana Housing Trust Fund leveraged $61 million in
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SLS 15RS-1550 ORIGINAL
1 additional investment; and
2 WHEREAS, according to the Louisiana Housing Alliance, every dollar invested from
3 the Louisiana Housing Trust Fund has resulted in 3.7 times as many dollars being put to
4 work on the ground to make home ownership accessible to many Louisiana families who
5 otherwise would not have been able to afford to own a home of their own; and
6 WHEREAS, since 2007, there has been no additional allocations of money by the
7 legislature to the Louisiana Housing Trust Fund, and a trust fund with dedicated revenue
8 could help developers and communities to meet the growing demand for affordable and
9 accessible housing which, in turn, would benefit many of Louisiana's hardworking families,
10 seniors, disabled persons, returning veterans and other Louisiana citizens; and
11 WHEREAS, the Louisiana Housing Trust Fund needs a continuous stream of funding
12 in order to be able to continue to encourage and stimulate the development of affordable
13 housing in Louisiana's communities across the state.
14 THEREFORE, BE IT RESOLVED that the Senate of the Legislature of Louisiana
15 requests that the Senate Committee on Local and Municipal Affairs study and make
16 recommendations to the legislature on or before February 1, 2016, regarding how to
17 establish recurring funding for the Louisiana Housing Trust Fund in order to continue to spur
18 development, rehabilitation and preservation of decent, safe, and affordable housing for low-
19 income individuals in the state of Louisiana.
20 BE IT FURTHER RESOLVED that a copy of this Resolution be transmitted to the
21 chair of the Senate Committee on Local and Municipal Affairs and the executive director
22 of the Louisiana Housing Corporation.
The original instrument and the following digest, which constitutes no part
of the legislative instrument, were prepared by Julie J. Baxter.
DIGEST
SR 120 Original 2015 Regular Session Broome
Requests the Senate Committee on Local and Municipal Affairs to study and make
recommendations regarding how to establish recurring funding for the Louisiana Housing
Trust Fund.
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