DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 673 Original 2021 Regular Session Gary Carter
Abstract: Creates the Home Ownership and Personal Equity Fund to use American Rescue Plan
Act funds to provide grants for financial and educational assistance for certain Louisiana
homebuyers.
Proposed law creates the Home Ownership and Personal Equity Fund (fund) and directs the treasurer
to deposit $50 million of federal monies allocated to La. pursuant to Coronavirus State Fiscal
Recovery Fund of the American Rescue Plan Act of 2021 into the fund.
Proposed law provides that monies in the fund shall be used to provide grants for financial and
educational assistance for homebuyers in La. who are currently receiving affordable housing or other
rental assistance.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 39:100.71)