| 1 | Representative Zapata offered the following: |
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| 3 | Substitute Amendment for Amendment (736621) |
| 4 | Remove line(s) 47-57 and insert: |
| 5 | (5)(a) Notwithstanding the provisions of subsection (3), |
| 6 | no less than 50 percent of the revenues collected in the Housing |
| 7 | Assistance Loan Trust Fund shall be used to provide |
| 8 | homeownership assistance for low-income and moderate-income |
| 9 | families. At least 10 percent of the funds specified in this |
| 10 | paragraph shall be used for down payment assistance. |
| 11 | (b) For purposes of this subsection, the term |
| 12 | "homeownership assistance" means assisting low-income and |
| 13 | moderate-income families in purchasing a home as their primary |
| 14 | residence, including, but not limited to, reducing the cost of |
| 15 | the home with below-market construction financing, the amount of |
| 16 | down payment and closing costs paid by the borrower, or the |
| 17 | mortgage payment to an affordable amount for the purchaser or |
| 18 | using any other financial assistance measure set forth in s. |
| 19 | 420.5088. |
| 20 | (6) Rehabilitation of housing owned by a recipient |
| 21 | government shall only be authorized after an affirmative vote of |
| 22 | the governing body that no other sources of funds are available. |
| 23 | (7)(a) The governing body of each county as defined in s. |
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