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Conference committee agrees to move municipal bond-bank funds into housing bucket, adjusts first-time homebuyer language
Summary
Budget conference members agreed to shift municipal bond bank/revolving loan funds into the housing bucket and move those funds under VHFA administration while proposing more flexible first-time homebuyer spending requirements; members asked staff to supply precise drafting language and dollar allocations.
Conference committee members working on the budget on May 6 agreed in principle to move municipal bond-bank and municipal infrastructure revolving loan funds into the housing appropriations "bucket" and place administration of that money with VHFA, while keeping the dollars earmarked for housing purposes.
The committee discussed reallocating roughly $7,500,000 in bond-bank/revolving loan funds and moving…
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