2007 General Session Summary for HB0138

Bill No.: HB0138 Drafter: DKG

LSO No.: 07LSO-0029 Effective Date: 7/1/2007

Enrolled Act No.: HEA0108

Chapter No.:

Prime Sponsor: Joint Minerals, Business and Economic Development Interim Committee

Catch Title: Wyoming workforce housing infrastructure program.

Subject: Wyoming workforce housing infrastructure program.

Summary/Major Elements:

· Establishes a workforce housing infrastructure program to provide loans for cities, towns, counties, special improvement districts and joint powers boards for workforce housing infrastructure and community land trusts.

· Provides for administration of the program and the account by the Wyoming Business Council and approval by the State loan and investment board.

· Describes which projects are or are not eligible for workforce housing infrastructure projects.

· Establishes a loan process, including application, interest rates, collateral requirements and repayment.

· Provides for loans for community land trusts owned or leased by political subdivisions and establishes criteria for the community land trusts.

· Establishes the Wyoming workforce housing infrastructure program account.

· Provides for rulemaking authority for the Wyoming Business Council and the State Land and Investment Board.

· Contains an appropriation of $1,000,000.00 from the budget reserve account to the Wyoming workforce housing infrastructure program account.

· Contains an appropriation of $50,000.00 from the budget reserve account to the Wyoming business Council for personnel and program administration of the Wyoming workforce housing infrastructure program.

Comments:

Report Required: Requires the Wyoming Business Council to submit an annual report with their budget and requires the Wyoming Business Council to submit a report to the Joint Business, Minerals and Economic Development Interim Committee on or before December 1, 2007.

Creates/amends major program: Creates the Wyoming Workforce Housing Infrastructure Program.