Affordable Housing Trust Fund Bills Die in Committee
Senate Housing Chairman, Hillman Frazier, introduced SB 2610 in efforts to create an affordable housing trust fund. The bill passed out of the Senate Housing Committee but died when it was not approved by the Senate Finance Committee prior to the February 4th deadline.
If created, the Fund would be administered by the Mississippi Home Corporation. Funding for the program calls for 2.5% of all taxes collected by the Department of Revenue on lumber and building material go into a housing account at the Home Corporation.
The purpose of the Fund is to assist extremely low-income to moderate-income persons in accessing affordable rental and home ownership housing, to provide for the development, rehabilitation and preservation of decent, safe and affordable housing for extremely low-income to moderate-income persons, and revitalize distressed neighborhoods and build healthy, vibrant communities.
There are some other affordable housing bills still alive under the revenue deadline, but we do not expect for them to be taken up.