Bill Text: MO HB1658 | 2010 | Regular Session | Introduced

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Bill Title: Creates the Homeowner Grant Program Fund to be used for the construction of new homes in Missouri

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2010-02-24 - Referred: Financial Institutions (H) [HB1658 Detail]

Download: Missouri-2010-HB1658-Introduced.html

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SECOND REGULAR SESSION

HOUSE BILL NO. 1658

95TH GENERAL ASSEMBLY

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INTRODUCED BY REPRESENTATIVES FUNDERBURK (Sponsor), WELLS, DOUGHERTY, NANCE, NASHEED, DEEKEN, SCHAD, SMITH (14), WALTON GRAY, PRATT, BROWN (50) AND GATSCHENBERGER (Co-sponsors).

4420L.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk

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AN ACT

Relating to the homeowner grant program fund, with an emergency clause.

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Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section 1. 1. There is hereby established the "Homeowner Grant Program Fund" which shall consist of moneys appropriated annually by the general assembly from general revenue for grants and any gifts, bequests, or donations for grants up to ten million dollars.

            2. The state treasurer shall administer and approve disbursements to Missouri residents from the homeowner grant program fund. Grants shall be used for the construction of new homes in this state. Each Missouri resident requesting disbursement from the homeowner grant program fund shall, upon approval, receive a one-time grant in the amount of five thousand dollars. Total grants expended under this section shall not exceed ten million dollars.

            3. Notwithstanding the provisions of section 33.080, moneys in the fund shall not revert to general revenue. The state treasurer shall invest the moneys from the fund in the same manner as other state funds are invested. Interest accruing to the fund shall be deposited in the fund and shall not be transferred to the general revenue fund.

            Section A. Because immediate action is necessary to create jobs and encourage the building of new homes in the state of Missouri, section 1 of this act is deemed necessary for the immediate preservation of the public health, welfare, peace, and safety, and is hereby declared to be an emergency act within the meaning of the constitution, and section 1 of this act shall be in full force and effect upon its passage and approval.

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