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House approves housing-relief fund to use stimulus dollars for unsold new homes
Summary
The House passed Second Substitute SB260 to create a Housing Relief Restricted Special Revenue Fund using roughly $10 million in stimulus dollars to move newly constructed, never-occupied homes into the market with grants (up to about $6,000) and escrow timing tightened to 90 days; the bill passed 59'yes, 13'no.
Lawmakers approved Second Substitute Senate Bill 260 on March 11 to create a Housing Relief Restricted Special Revenue Fund intended to deploy approximately $10 million of stimulus money to remove unsold newly constructed housing from inventory and place it with eligible buyers.
Representative Dee, the sponsor, said…
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