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