HOUSING TRUST FUND

Housing Trust Fund

Five states enacted legislation related to Housing Trust Funds between February 2007 and July 2008, with another state – Alaska – making an unsuccessful attempt to create a state Housing Trust Fund in 2008.  Indiana, Washington and West Virginia each passed bills that created new funding streams for their respective state Housing Trust Funds; Texas increased funding for its Housing Trust Fund.  Alabama passed legislation to create a task force to examine and make recommendations on the feasibility and design of a state Housing Trust Fund. 

The table below provides details on legislation related to Housing Trust Funds that was enacted or introduced between February 1, 2007, and July 1, 2008.

State
Policy Action since February 2007
 Description
Alabama
0%
check
 In May 2008, Alabama enacted legislation (HJR 183) to create a 20-member Housing Trust Fund Task Force. The task force is charged with studying existing housing trust funds across the country and developing recommendations for proposed legislation. The group will report its findings and recommendations in the 2009 regular session.
Alaska
0%
ex
Alaska introduced legislation (HB 324) in January 2008 that would have created a state Housing Trust Fund. The bill died in committee.
Arizona
1
no change
Arkansas
0%
no change
California
50%
no change
Colorado
0%
no change
Connecticut
1
no change
Delaware
1
no change
District of Columbia
1
no change
Florida
50%
no change
Georgia
50%
no change
Hawaii
1
no change
Idaho
0%
no change
Illinois
1
no change
Indiana
50%
check
 Indiana passed two bills related to the state's Affordable Housing and Community Development Fund.  HB 1001 levies a tax increase on smokeless tobacco products, and is expected to generate $5-6 million per year for the fund.  SB 500 gives local county fiscal bodies where there is already a county housing trust fund the option to implement an increased document recording fee, of which 60% of the amount raised will be given to the county's housing trust fund and 40% to the statewide fund. 
Iowa
50%
no change
Kansas
1
no change
Kentucky
1
no change
Louisiana
1
no change
Maine
1
no change
Maryland
1
no change
Massachusetts
50%
no change
Michigan
50%
no change
Minnesota
1
no change
Mississippi
0%
no change
Missouri
1
no change
Montana
50%
no change
Nebraska
1
no change
Nevada
1
no change
New Hampshire
50%
no change
New Jersey
1
no change
New Mexico
50%
no change
New York
50%
no change
North Carolina
50%
no change
North Dakota
0%
no change
Ohio
50%
no change
Oklahoma
50%
no change
Oregon
1
no change
Pennsylvania
0%
no change
Rhode Island
0%
no change
South Carolina
1
no change
South Dakota
0%
no change
Tennessee
0%
no change
Texas
50%
no change
 Texas increased its Housing Trust Fund allocation by $5 million, more than doubling the existing funding.
Utah
50%
no change
Vermont
1
no change
Virginia
0%
no change
Washington
1
check
 Washington increased the state's document recording fee to fund programs serving the homeless.  Ninety percent of the increased fees will remain with the county of origin, and the remaining 10% will go to the statewide trust fund.  
West Virginia
50%
check
 Lawmakers in West Virginia directed two new revenue sources to the state housing trust fund:  a dedicated real property transfer fee and a new $20 fee on the sale of factory-built homes.
Wisconsin
1
no change
Wyoming
0%
no change
Source: Housing Trust Fund Project, Center for Community Change.