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Affordable Housing Trust Fund Legislation Likely Dead

February 1st, 2018 by Mike Vasilinda

Democrats in the state House say a trust with taxpayers has been broken. A percentage of documentary stamp revenue generated by every real estate transaction is supposed to be dedicated to affordable housing, but in reality lawmakers have been using the money for other things. State Rep Sean Shaw says teachers, nursers and first responders often can’t afford to live in the areas they serve.

“The money’s not going to the dedicated affordable housing program. You know, we’ve swept a billion dollars, thats a billion dollars that was specifically dedicated to the affordable housing, that we’ve used to plug general revenue holes over the last yen years. That’s not fiscally responsible. That’s not a trust. That’s not what we are up here to do.”

Legislation to require the money to be used as intended has yet to get a committee hearing.

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