215.034. Housing trust fund created, purpose--funding--housing development commission, costs how paid, limitation--duties--fund exempt from lapse into general revenue. - Missouri Statutes

Housing trust fund created, purpose--funding--housing developmentcommission, costs how paid, limitation--duties--fund exempt fromlapse into general revenue.

215.034. 1. The "Missouri Housing Trust Fund" is herebyestablished in the state treasury. At the conclusion of eachfiscal year, the state treasurer shall allocate all moneys in theMissouri housing trust fund to the Missouri housing developmentcommission for disbursement and investment as directed in thissection. Moneys deposited in the fund shall include thedesignated funds received from the user fee established insection 59.319, RSMo, money transferred from the Missouri housingdevelopment commission and any other amounts which may bereceived from grants, gifts, bequests, the state or federalgovernment, or any other source. Moneys in the fund shall beused solely for the purposes established by sections 215.034 to215.039.

2. All administrative costs of this program incurred by theMissouri housing development commission shall be paid from thisfund, which costs annually shall not exceed two percent of thenet annual revenues received into the fund.

3. In administering the Missouri housing trust fund, theMissouri housing development commission shall commit or expendthe money annually deposited into the fund and all interestearned on the fund. All money annually deposited in and interestearned on the housing trust fund shall be expended solely for thepurposes established in sections 215.034 to 215.039.

4. The unexpended balance existing in the fund at the endof any biennium year shall be exempt from the provisions ofsection 33.080, RSMo, relating to the transfer of unexpendedbalances to the general revenue fund.

(L. 1994 H.B. 1745 § 215.035)