SB 0624 - Fiscal Note

Fiscal Note - SB 0624 - Allows Grants for Housing Agencies

L.R. NO.  2429-01
BILL NO.  SB 624
SUBJECT:  Housing, Appropriations
TYPE:     Original
DATE:     January 8, 1996



                              FISCAL SUMMARY
                    ESTIMATED NET EFFECT ON STATE FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999
General Revenue   ($0 to $600,000)    ($0 to $600,000)  ($0 to $600,000)

Total Estimated
Net Effect on All
State Funds       ($0 to $600,000)    ($0 to $600, 000) ($0 to $600,000)
                 - SUBJECT TO APPROPRIATION-



                   ESTIMATED NET EFFECT ON FEDERAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999
None

Total Estimated
Net Effect on All
Federal Funds                   $0                  $0                $0

                    ESTIMATED NET EFFECT ON LOCAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999
Local Government           UNKNOWN             UNKNOWN           UNKNOWN


                              FISCAL ANALYSIS

ASSUMPTION

Officials of the Missouri Housing Development Commission (MHDC) indicate they
would request a $600,000 annual appropriation to provide for the grant and
assistance programs specified in the proposal.

FISCAL IMPACT - State Government FY 1997   FY 1998   FY 1999
                                (10 Mo.)
Cost-Grants & program assistance-
   subject to appropriation          ($0       ($0       ($0
                                      to        to        to
                                600,000)  600,000)  600,000)

ESTIMATED NET EFFECT ON
GENERAL REVENUE FUND             ($0 to    ($0 to    ($0 to
                               $600,000) $600,000) $600,000)

                               ---SUBJECT TO APPROPRIATION---

FISCAL IMPACT  - Local Government FY 1997   FY 1998   FY 1999
                                 (10 Mo.)
Income
Local community housing
development organizations could
receive state grants for
obtaining and administering
federal grant funds.              Unknown   Unknown   Unknown

DESCRIPTION

This legislation would authorize the General Assembly to appropriate funds to
the Missouri Housing Development Commission for the following two purposes:

1.  To provide grants to qualifying neighborhood housing agencies for payment
of basic operating expenses, and

2.  To provide assistance to local community housing development
organizations in obtaining and administering federal grant funds under the
Home Investment Partnerships Program of the National Affordable Housing Act
of 1990.

This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.

SOURCES OF INFORMATION

Department of Economic Development-Missouri Housing Development Commission