FY22 Legislative Priorities
The Virginia General Assemby session is officially under way and we are closely monitoring a few amendments, bills and budgetary items that are currently on the table:
Affordable Housing Trust Fund Budget
Habitat for Humanity affiliates are advocating for Governor Youngkin to keep $300 million in the budget over the biennium for the Affordable Housing Trust Fund. This funding would allow housing organizations to develop 20,400 affordable units in 2 years. Currently there is a deficit of 200,000 affordable units in the state.
Long-Time Homeowner Tax Relief Program
Provides real estate tax relief to homeowners who have lived in their home for a certain period (not yet defined) and their property value has increased by 50% or more. Qualification for the program will be based on income.
- HJ58: https://lis.virginia.gov/cgi-bin/legp604.exe?ses=221&typ=bil&val=HJ58
- This is similar to the Philadelphia LOOP Program: https://www.phila.gov/services/payments-assistance-taxes/income-based-assistance-programs/longtime-owner-occupants-program/
Inclusionary Zoning Bill
Introduced by Betsy Carr at the request of City Councilwoman Ellen Robertson:
Restorative Homeownership Pilot Program
Provides significant downpayment assistance to individuals who have been affected by systemically racist housing laws in the City of Richmond. Also provides funding for Critical Home Repairs.
The budget amendments were submitted by Senator Hashmi and Delegate Bourne.
For any questions about Richmond Habitat’s advocacy efforts and how you can get involved, email Kristin at kvinagro@richmondhabitat.org.
