The Senate passed a $1.4 billion housing bill Tuesday that Sen. Brian A. Joyce said preserves affordable housing for older residents, assist non-profits providing early education and after school programs for children, and further a home modification loan program assisting homeowners with severe disabilities.
“This bill is a tremendous economic development and job creation tool that will keep elderly and disabled people in their homes, revitalize neighborhoods, and provide work to our tradespeople who were hit hardest in the recession,” Joyce said in a statement.
This version and the House version of the bill will now be combined into a single piece of legislation by conference committee.
Joyce is chair of the Committee on Bonding, Capital Expenditures and State Assets, which recommended the bill to the full Senate. It also de-authorizes approximately $470 million in projects that were never started or will not be completed.
The bill also:
- provides $80 million in grants and loans for housing services for veterans, victims of domestic violence, seniors, and residents recovering from substance abuse issues;
- makes $55 million available to help disabled homeowners modify their homes so they can continue living in them;
- creates an Early Education and Out of School Time Capital Fund to finance facilities for early childhood education;
- and requires the administration to submit reports regarding the progress of all projects and expenditures related to the funds made available.
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