[As Amended by House Committee of the
Whole]
Session of 2000
Substitute for HOUSE BILL No. 2971
By Committee on Economic Development
3-6
11 AN ACT relating
to housing; concerning administration of state housing
12 program; establishing
a state housing corporation; amending K.S.A.
13 74-5084 and 74-5085
and K.S.A. 1999 Supp. 74-5086a and repealing
14 the existing sections;
also repealing K.S.A. 74-5082 and 74-5083.
15
16 Be it enacted by the Legislature of the
State of Kansas:
17 New Section
1. It is hereby declared:
18 (a) That it is
imperative that the supply of residential housing for
19 persons and families displaced by public
actions or natural disaster be
20 increased;
21 (b) that
individual communities are often unable to meet local hous-
22 ing needs;
23 (c) that private
enterprise and investment have been unable, without
24 assistance, to produce the needed new
construction or rehabilitation of
25 accessible and integrated, sanitary, decent
and safe residential housing
26 and to provide sufficient long-term
mortgage financing for this purpose
27 and for the purchase of existing
residential housing by persons and fam-
28 ilies entering the housing market, when it
becomes available;
29 (d) that private
enterprise and investment be encouraged both to
30 sponsor land development and build and
rehabilitate residential housing
31 and that private financing be supplemented
by financing as provided in
32 this chapter for the construction,
rehabilitation and purchase of such
33 housing, in order to help prevent the
creation and recurrence of slum
34 conditions and substandard housing and to
assist in their permanent elim-
35 ination throughout Kansas; and
36 (e) that it is to
the economic benefit of the state to encourage the
37 availability of adequate housing for all
levels of society.
38 New Sec.
2. (a) The purpose of this act is to ensure that as
businesses
39 locate to Kansas and as existing businesses
continue to expand that a
40 sufficient supply of adequate, safe and
sanitary residential housing exists
41 in all geographic locations within the
state and to assist Kansas families
42 of low, very low and moderate income in
obtaining such housing.
43 (b) As used in
this act, unless the context clearly requires otherwise:
2
1
(1) ``Commitment in principle'', a commitment made prior to
sub-
2 mission of a final application. Such
type of commitment shall not have a
3 priority position over other
commitments;
4
(2) ``corporation'' means the Kansas housing development
5 corporation;
6
(3) ``distressed community'' means:
7 (A) A
municipality within a metropolitan statistical area which has a
8 median household income of under 80%
of the median household income
9 for the metropolitan statistical
area, according to the latest decennial cen-
10 sus or a United States census block group
or contiguous group of block
11 groups within a metropolitan statistical
area which has a population of at
12 least 2,500, and each block group having a
median household income of
13 under 80% of the median household income
for the metropolitan area in
14 Kansas, according to the latest decennial
census; or
15 (B) regarding
municipalities not in a metropolitan statistical area, dis-
16 tressed community means a municipality with
a median household in-
17 come of under 80% of the median household
income for the nonmetro-
18 politan counties of Kansas according to the
last decennial census or a
19 census block group or contiguous group of
block groups which has a
20 population of at least 2,500 each block
group having a median household
21 income of under 80% of the median household
income for the nonme-
22 tropolitan counties of Kansas, according to
the latest decennial census;
23 (4) ``land
development'' means the process of acquiring land for res-
24 idential housing construction, and of
making, installing or constructing
25 nonresidential housing improvements,
including waterlines and water
26 supply installations, sewer lines and
sewage disposal installations, steam,
27 gas and electric lines and installations,
telephone and other communica-
28 tions lines and installations, roads,
streets, curbs, gutters, sidewalks,
29 whether on or off the site, which the
corporation deems necessary or
30 desirable to prepare such land for
residential housing construction within
31 this state;
32 (5) ``low income,
very low income and moderate income persons and
33 families'' have the meanings ascribed to
them by rules and regulations of
34 the federal department of housing and urban
development and as
35 adopted by the corporation;
36 (6) ``residential
housing'' or ``development'' means a specific facility,
37 work or improvement within this state,
undertaken primarily to provide
38 dwelling accommodations for persons and
families, including the acqui-
39 sition, construction or rehabilitation of
land, buildings and improvements
40 thereto;
41
(7) ``weatherization'' means the retrofitting which is
identified by an
42 energy audit and meets standards as
established by the corporation for
43 single or multifamily dwelling and includes
one or more of the following:
3
1
(A) Insulation of walls, ceiling, floors, pipes or water
heaters;
2 (B) storm
or insulated doors and windows;
3
(C) caulking and weatherstripping;
4 (D) higher
efficiency replacement space heating, water heating, air
5 conditioning and ventilation
systems;
6
(E) installation of solar collectors for heating, cooling and
hot water,
7 including associated piping,
ductwork, pumps and on-site preparation
8 costs; and
9 (F) any
other conservation measure or renewable resource system
10 which the corporation determines to be
eligible as long as such measures
11 or systems are in strict conformance with
the purposes of this section.
12 (8) ``accessible
and integrated'' means that dwellings shall be de-
13 signed, constructed or rehabilitated in
such a way which allows for all
14 residents to get into and use the dwelling,
integrated in various locations
15 throughout a proposed project, which is not
for the exclusive occupancy
16 of specific groups or categories of
individuals.
17 New Sec.
3. (a) There is hereby created a body politic and
corpo-
18 rate to be known as the Kansas housing
development corporation. The
19 corporation is hereby constituted as a
public instrumentality and the ex-
20 ercise of the authority and powers
conferred by this act shall be deemed
21 and held to be the performance of an
essential governmental function.
22 (b) The powers of
the corporation shall be vested in seven member
23 board of directors, who shall be residents
of the state, to be appointed by
24 the governor, with the advice and consent
of the senate. Not more than
25 four of the directors shall be of the same
political party. The directors
26 shall serve four-year terms, with no more
than two directors appointed
27 to any one term, with each term beginning
July first and ending on June
28 thirtieth. Each director shall be appointed
for a term ending five years
29 from the date of expiration of the term for
which the director's prede-
30 cessor was appointed, except that a person
appointed to fill a vacancy
31 prior to the expiration of such a term
shall be appointed for the remainder
32 of the term. No director appointed pursuant
to this chapter by the gov-
33 ernor shall serve more than two consecutive
full terms. Each director
34 shall hold office for the term of his
appointment and until his successor
35 shall have been appointed and
qualified.
36 (c) Before
entering into his duties, each director of the corporation
37 shall execute a surety bond in the penal
sum of $50,000 and the executive
38 director shall execute a surety bond in the
penal sum of $100,000 or, in
39 lieu thereof, the chairman of the
corporation shall execute a blanket bond
40 covering each member, the executive
director and the employees or other
41 officers of the corporation, each surety
bond to be conditioned upon the
42 faithful performance of the duties of the
office or offices covered, to be
43 executed by a surety company authorized to
transact business in this state
4
1 as surety and to be approved by the
attorney general and filed in the
2 office of the secretary of state. The
cost of each such bond shall be paid
3 by the corporation.
4
(d) Notwithstanding any other law to the contrary it shall not
be or
5 constitute a conflict of interest for
a director, officer or employee of any
6 financial institution, investment
banking firm, brokerage firm, commer-
7 cial bank or trust company,
architecture firm, insurance company or any
8 other firm, person or corporation to
serve as a member of the corporation,
9 provided such trustee, director,
officer or employee shall abstain from
10 deliberation, action and vote by the
corporation in each instance where
11 the business affiliation of any such
trustee, director, officer or employee
12 is involved.
13 (e) The board of
directors shall conduct a national search and select
14 a corporate president who meets a national
standard of experience, ability
15 and initiative for similar positions. The
corporate president shall not be
16 a member of the board.
17 (f) The board of
directors shall hold all board meetings within the
18 state of Kansas.
19 (g) Members of
the board of directors are entitled to compensation
20 and expenses as provided in K.S.A. 75-3223,
and amendments thereto.
21 (h) The board
shall annually elect from the membership one member
22 as chairperson and one member as
vice-chairperson.
23 (i) The board of
directors shall meet at least once during each cal-
24 endar quarter, and at such other times as
may be provided in the rules
25 of the corporation, upon call by the
president, the chairperson or upon
26 written request of a majority of the
directors.
27 (j) A majority of
the board of directors shall be necessary to transact
28 corporation business, and all actions of
the directors shall be by a majority
29 vote of the full number of corporate
directors.
30 (k) A member
appointed to the board of directors by the governor
31 may be removed by the governor for cause,
stated in writing, after a
32 hearing thereon.
33 New Sec.
4. (a) The corporation shall have all the powers necessary
34 to achieve the purposes, specified in
section 1, and amendments thereto,
35 including the power to:
36 (1) Make, amend
and repeal bylaws, rules and regulations for the
37 management of its affairs;
38 (2) sue and be
sued;
39 (3) make
contracts and execute all instruments necessary or conven-
40 ient for carrying out its business;
41 (4) acquire, own,
hold, dispose of and encumber real or personal
42 property of any nature, both tangible and
intangible, or any interest
43 therein;
5
1 (5) enter
into agreements or other transactions with any federal, state,
2 county or municipal agency and with
any individual, corporation, enter-
3 prise, association or any other
entity involving housing development;
4 (6) acquire
real property or an interest therein, by purchase or fore-
5 closure, where such acquisition is
necessary or appropriate to protect or
6 secure any investment or loan in
which the corporation has an interest;
7 (7) sell,
transfer and convey any such property to a buyer, and in the
8 event such sale, transfer or
conveyance cannot be effected with reason-
9 able promptness or at a reasonable
price, to lease such property to a
10 tenant;
11 (8) invest any
funds appropriated by the state and held in reserve in
12 funds not required for immediate
disbursement, in such investments that
13 may be lawful for fiduciaries in this
state, and invest funds received from
14 gifts, grants, donations and other
operations of the corporation in such
15 investments as would be lawful for a
private corporation having purposes
16 similar to the corporation;
17 (9) borrow money
and give guaranties to carry out and effectuate its
18 purpose and to issue its negotiable bonds
or notes as evidence of any such
19 borrowing in such principal amounts and
upon such terms as shall be
20 necessary to provide sufficient funds for
achieving its purpose, and to
21 secure such bonds or notes by the pledge of
revenues, mortgages or notes
22 of others, but shall not constitute a
pledge of the full faith and credit of
23 the state or any of its revenues;
24 (10) appoint
officers, consultants, agents and advisors, and prescribe
25 their duties and compensation;
26 (11) appear in
its own behalf before boards, commissions, depart-
27 ments or other agencies of municipal,
county, state or federal
28 government;
29 (12) procure
insurance as may be necessary to protect it against loss
30 or liability;
31 (13) accept any
and all donations, grants, bequests and devises, con-
32 ditional and otherwise, of money, property,
services or other things of
33 value which may be received from the United
States or any agency
34 thereof, any governmental agency, or any
institution, person, firm or cor-
35 poration, public or private, to be held,
used or applied for any or all of
36 the purposes specified in this act, in
accordance with the terms and con-
37 ditions of any such grant;
38 (14) accept such
moneys as may be appropriated from time to time
39 by the legislature for effectuating its
corporate purposes including, with-
40 out limitation, the payment of any initial
expenses of administration and
41 operation and the establishment of reserves
or contingency funds to be
42 available for the payment of the principal
of and the interest on any bonds,
43 notes or other obligations of the
authority;
6
1 (15) trade,
buy or sell qualified securities, including without limita-
2 tion, the powers to guarantee,
purchase, take, receive, subscribe for or
3 otherwise acquire, to own, hold, use
or otherwise employ; to sell, lease,
4 exchange, transfer or otherwise
dispose of; to mortgage, lend, pledge or
5 otherwise deal in and with, qualified
securities issued by any other do-
6 mestic or foreign corporation,
partnership, association, limited liability
7 company, or business trust, whether
or not such issuer was organized or
8 caused to be organized by the
corporation. The corporation, while owner
9 of any such qualified securities, may
exercise all of the rights, powers and
10 privileges of ownership, including without
limitation the right to vote;
11 (16) make or
participate in the making of uninsured, other than first
12 priority mortgages for single-family
dwellings, or federally insured con-
13 struction loans to approved mortgagors of
residential housing for occu-
14 pancy by persons and families of low, very
low or moderate income or
15 occupancy by persons and families of any
income level in distressed com-
16 munities as defined in section 2 and
amendments thereto. Such loans
17 shall be made only upon determination by
the corporation that construc-
18 tion loans are not otherwise available,
wholly or in part, from private
19 lenders upon reasonably equivalent terms
and conditions. No commit-
20 ment for a loan, except a commitment in
principle shall be made unless
21 all plans for development have been
completed and submitted to the
22 corporation;
23 (17) purchase or
participate in the purchase of uninsured other than
24 first priority mortgages for single-family
dwellings, partially insured or
25 fully insured loans, including mortgages
insured or otherwise guaranteed
26 by the federal government, or mortgages
insured or otherwise guaranteed
27 by other insurers of mortgages to approved
mortgagors to finance the
28 building, rehabilitation or purchase of
residential housing designed and
29 planned to be available for rental or sale
to low-income, very low-income
30 or moderate-income persons or families, as
well as to finance the building,
31 rehabilitation or purchase of residential
housing, planned to be available
32 for rental or sale to persons or families
of any income level, or which will
33 be occupied and owned by low-income, very
low-income or moderate-
34 income persons or to purchase or
participate in the purchase of any other
35 securities which are secured, directly or
indirectly, by any such loan;
36 (18) adopt bylaws
for the regulation of its affairs and the conduct of
37 its business and define, from time to time,
the terms ``low-income'', ``very
38 low-income'' and ``moderate-income''
so as to best carry out the purposes
39 of this act and to conform
with federal guidelines. Such bylaws may vary
40 from one part of the state to another
depending on economic factors in
41 each part;
42 (19) make and
execute contracts, releases, compromises, and other
43 instruments necessary or convenient for the
exercise of its powers, or to
7
1 carry out its purposes;
2
(20) collect reasonable fees and charges in connection with
servicing
3 its loans, notes, bonds, obligations,
commitments, and other evidences of
4 indebtedness, and in connection with
providing technical, consultative
5 and project assistant services. Such
fees and charges shall be limited to
6 the amounts required to pay the costs
of the corporation;
7
(21) consent, whenever it deems it necessary or desirable in
the ful-
8 fillment of its purpose, to the
modification of the rate of interest, time of
9 payment or any installment of
principal or interest, or any other terms,
10 of any mortgage loan, mortgage loan
commitment, construction loan,
11 temporary loan, contract or agreement of
any kind to which the corpo-
12 ration is a party;
13 (22) issue
renewal notes, to issue bonds to pay notes, and whenever
14 it deems refunding expedient, to refund any
bonds by the issuance of new
15 bonds, whether the bonds to be refunded
have or have not matured;
16 (23) apply the
proceeds from the sale of renewal notes or refunding
17 bonds to the purchase, redemption or
payment of the notes or bonds to
18 be refunded;
19 (24) provide
technical services to assist in the planning, processing or
20 rehabilitation of residential housing for
occupancy by persons and families
21 of low, very low and moderate income,
persons and families in distressed
22 communities of any income level or land
development for residential
23 housing for occupancy by persons and
families of low, very low and mod-
24 erate income or persons and families in
distressed communities of any
25 income level;
26 (25) to provide
consultative project assistance services for residential
27 housing for occupancy by persons and
families of low, very low and mod-
28 erate income or persons and families of any
income level in distressed
29 communities and for land development for
residential housing for occu-
30 pancy by persons and families of low, very
low and moderate income or
31 for persons and families of any income
level in distressed communities
32 and for the residents thereof with respect
to management, training and
33 social services;
34 (26) to promote
research and development in scientific methods of
35 constructing low cost residential housing
of high durability;
36 (27) to make,
purchase or participate in the purchase of uninsured,
37 partially insured or fully insured loans
and home improvement loans to
38 finance the weatherization of single and
multifamily dwellings, and shall
39 issue its negotiable bonds or notes for
such purpose;
40 (28) create a
housing equity fund for the purpose of purchasing low-
41 income housing tax credits; and
42 (29) exercise any
other powers necessary for the operation and func-
43 tioning of the corporation within the
purposes authorized in this act.
8
1 (b) The
corporation, to the greatest extent possible, shall hire and
2 utilize private businesses in the
performance of its powers and duties as
3 prescribed by this act.
4 (c) In
addition to the corporate powers described in subsection (a),
5 subject to and in accordance with
appropriations acts, the corporation is
6 hereby authorized to perform the
functions formerly directed by the of-
7 fice of housing within the department
of commerce and housing as
8 follows:
9
(1) Prepare, from time to time amend, and administer the state
hous-
10 ing plan in accordance with criteria of the
federal department of housing
11 and urban development;
12 (2) serve as a
clearinghouse and single point of contact for the state
13 regarding information, programs, and
resources related to affordable and
14 accessible housing;
15 (3) provide
access and management of federal housing programs for
16 delivery to the citizens and businesses of
Kansas;
17 (4) work with
existing agencies, organizations, and social programs to
18 assist in the development of affordable and
accessible housing; and
19 (5) within 90
days of the close of its fiscal year, the corporation shall
20 submit to the secretary of commerce and
housing, for inclusion in the
21 secretary's annual report to the
legislature, a complete and detailed report
22 setting forth:
23 (A) Its
operations and accomplishments;
24 (B) its receipts
and expenditures during such fiscal year in accordance
25 with the categories or classifications
established by the authority for its
26 operating and capital outlay purposes;
27 (C) its assets
and liabilities at the end of its fiscal year, including a
28 schedule of its mortgage loans and
commitments and the status of reserve,
29 special or other funds; and
30 (D) a schedule of
its notes and bonds outstanding at the end of its
31 fiscal year, together with a statement of
the amounts redeemed and in-
32 curred during such fiscal year.
33 (d) In the
performance of its duties and functions pursuant to this
34 act, the corporation shall not:
35 (1) Originate
single family home loans, except as specifically provided
36 in this act;
37 [(2) purchase or participate
in the purchase of single-family
38 home loans or make, purchase or
participate in the purchase of
39 home-improvement loans when the
mortgagor or borrower does
40 not meet the definitions of low-income,
very-low income or mod-
41 erate income as defined in this
act;]
42 (2)
[(3)] originate multifamily first mortgages, except
when no other
43 lender will provide financing as documented
to the corporation by the
9
1 presentation of written denials of
applications for such mortgages from
2 two financial institutions. The
corporation shall encourage the restruc-
3 turing of the debt for such
developments for the betterment of the res-
4 idents and the community in which it
is located;
5
(3) [(4)] participate in lending
activities for nonresidential purposes.
6
(4) [(5)] own real property for long
periods of time. Such property
7 that has been acquired for the
purpose of debt restructuring or otherwise
8 providing financial stability should
be returned to private ownership
9 within 18 months or as quickly
thereafter as possible;
10 (5)
[(6)] participate in any housing related function in a
community
11 which has not conducted a housing needs
study;
12 (6)
[(7)] participate in housing construction as a general
contractor
13 or subcontractor; and
14 (7)
[(8)] participate in any housing function which can be
handled
15 economically or efficiently by private
industry.
16 (e) The
corporation shall be exempt from all franchise, corporate
17 business and income taxes levied by the
state.
18 (f) The
corporation shall not be subject to state purchasing laws.
19 (g) The
corporation is an agency of the state to the extent that it's
an
20 issuing authority within the meaning of
§ 146 of the internal revenue
21 code of 1986 and the state housing credit
agency within the meaning of
22 § 42(h)(7)(A) of the internal revenue
code of 1986. The corporation is
23 authorized to administer the provisions of
§ 42 of the internal revenue
24 code of 1986, and may issue qualified
private activity bonds to carry out
25 the provisions of this chapter, to the
extent the corporation is allocated a
26 portion of the state ceiling of qualified
private activity bonds applicable
27 to the state. Any such allocation shall not
affect the powers relating to the
28 issuance of bonds or notes in by the
corporation as provided in paragraph
29 (9). No provision of this section affects
the validity of bonds or notes
30 issued as provided in this act, regardless
of whether the obligations are
31 issued in the manner required by federal
law for the exemption of the
32 interest thereon from federal income
taxation. The corporation may enter
33 into all agreements and take any actions
necessary to comply with all
34 conditions set forth in section 103A of the
internal revenue code of 1954,
35 as amended, and section 143 of the internal
revenue code of 1986, as
36 appropriate, for the issuance of qualified
mortgage bonds as therein
37 defined.
38 New Sec.
5. (a) The governor's commission on housing shall have
39 and perform the following functions:
40 (1) Assist the
corporation in the continued development of the state
41 housing plan;
42 (2) address the
special populations in need of housing availability and
43 affordability;
10
1 (3) provide
advice and counsel to the corporation concerning Kansas
2 community housing needs to facilitate
economic development; and
3 (4) work
with existing agencies, organizations and social programs to
4 development affordable, safe,
sanitary and accessible housing.
5 Sec.
6. K.S.A. 74-5084 is hereby amended to read as follows:
74-
6 5084. Whenever the designation of a
state agency is required by any
7 federal act or program under which
federal financial assistance is made
8 available for housing or housing
related purposes, the department of com-
9 merce the Kansas
housing development corporation shall serve as the
10 officially designated state agency of
Kansas and such department the cor-
11 poration shall be responsible for
exercising the powers and performing
12 the functions and duties required of state
agencies under such federal
13 acts and programs.
14 Sec.
7. K.S.A. 74-5085 is hereby amended to read as follows:
74-
15 5085. (a) (1) All of the powers,
duties and functions of the secretary of
16 social and rehabilitation services and the
department of social and reha-
17 bilitation services which relate to housing
and housing assistance and
18 which were exercised pursuant to contracts
and agreements with the fed-
19 eral department of housing and urban
development immediately prior to
20 the effective date of this act are hereby
transferred to and conferred upon
21 the secretary of commerce and the
department of commerce.
22 (2) All of the
powers, duties and functions of the secretary of social
23 and rehabilitation services and the
department of social and rehabilitation
24 services which relate to the application,
receipt, administration, and util-
25 ization of grants, vouchers and other
financial assistance that the federal
26 department of housing and urban development
makes available under
27 federal housing programs, and that other
public or private entities make
28 available for housing and housing related
purposes, are hereby transferred
29 to and conferred upon the secretary of
commerce and the department of
30 commerce.
31 (3) On and
after July 1, 2000, all powers, functions, duties and con-
32 tractual relationships described in
paragraphs (1) and (2) of this subsec-
33 tion shall be transferred to the Kansas
housing development corporation.
34 (b) The
secretary of commerce and the department of
commerce
35 Kansas housing development
corporation shall be the successors in every
36 way to the powers, duties and functions
which are specified in this section
37 and which were vested in the secretary of
social and rehabilitation services
38 and the department of social and
rehabilitation services and subsequently
39 to the secretary of commerce and housing
and the department of com-
40 merce and housing prior to
the effective date of this act July 1,
2000.
41 (c) Whenever the
secretary of social and rehabilitation services or the
42 department of social and rehabilitation
services or the secretary of com-
43 merce and housing or the department of
commerce and housing, or words
11
1 of like effect, is referred to or
designated by statute, contract or other
2 document with regard to the powers,
duties and functions which are spec-
3 ified in this section, such reference
or designation shall be deemed to
4 apply to the secretary of
commerce and the department of commerce
5 Kansas housing development
corporation.
6
(d) Officers and employees who immediately prior to the
effective
7 date of this act were engaged in the
exercise and performance of the
8 powers, duties and functions
specified in this section and who, in the
9 opinion of the secretary of
commerce the president of the Kansas housing
10 development corporation, are
necessary to perform the powers, duties
11 and functions transferred under this
section shall become officers and
12 employees of the department of
commerce corporation. Any such officer
13 or employee shall retain all retirement
benefits, leave rights and all other
14 rights of civil service which had accrued
to or vested in such officer or
15 employee prior to the effective date of
this act. The service of each such
16 officer and employee so transferred shall
be deemed to have been con-
17 tinuous. All transfers and any abolition of
personnel positions in the clas-
18 sified service under the Kansas civil
service act shall be in accordance
19 with civil service laws and any rules and
regulations adopted thereunder.
20 Nothing in this section shall affect the
classified status of any transferred
21 person employed by the department of
commerce and housing prior to
22 the date of transfer. Any employees
hired after July 1, 2000, shall serve
23 at the pleasure of the president of the
Kansas housing development
24 corporation.
25 (e) If the
secretary of commerce and housing and the president of the
26 Kansas housing development corporation
cannot agree as to how the
27 transfer of personnel between the two
agencies is to be achieved, the pres-
28 ident of the corporation shall be
responsible for administering any layoff
29 which is a part of the transfer.
30
(f) Notwithstanding the effective date of this act authorizing
the trans-
31 fer of personnel pursuant to this
section, the date of transfer of personnel
32 shall commence at the start of a payroll
period.
33 Sec.
8. K.S.A. 1999 Supp. 74-5086a is hereby amended to read as
34 follows: 74-5086a. (a) There is hereby
established in the state treasury
35 the state housing trust fund. All moneys
credited to the state housing
36 trust fund shall be used for the purposes
of housing programs and services
37 including, but not limited to, the
provision of financial programs for the
38 repair, rehabilitation and improvement of
existing residential housing,
39 accessibility modifications, rental
subsidies and the provision of housing
40 services and assistance to persons having
low, very low or moderate in-
41 come and disabled persons.
42 (b) The state
housing trust fund shall be administered by the
office
43 of housing of the department of
commerce and housing Kansas housing
12
1 development corporation. All
expenditures from the state housing trust
2 fund shall be in accordance with
appropriations acts upon warrants of the
3 director of accounts and reports
issued pursuant to vouchers approved
4 by the secretary of commerce
and housing or the secretary's president of
5 the corporation or the
president's designee.
6 (c) The
office of housing and the department of commerce and
hous-
7 ing are
corporation is hereby authorized to apply for and receive
available
8 public or private grants, gifts and
donations for the purposes of housing
9 programs and services. All such
grants, gifts and donations, which are not
10 required to be deposited in a separate
special revenue fund, shall be
11 deposited in the state treasury to the
credit of the state housing trust
12 fund. All moneys received by the
department of commerce and housing
13 for corporation
from fees related to housing, which are not required to
14 be deposited in a separate special revenue
fund, shall be deposited in the
15 state treasury to the credit of the state
housing trust fund.
16 (d) On or before
the 10th of each month, the director of accounts
17 and reports shall transfer from the state
general fund to the state housing
18 trust fund interest earnings based on:
19 (1) The average
daily balance of moneys in the state housing trust
20 fund for the preceding month; and
21 (2) the net
earnings rate for the pooled money investment portfolio
22 for the preceding month.
23 New Sec.
9. No director, employee or officer of the corporation
shall
24 be liable personally for any reason arising
from the service of such person
25 as a director, employee or officer of the
corporation or any subsidiary
26 corporations created pursuant to this act
unless such person acted with
27 willful, wanton or fraudulent misconduct or
intentionally tortuous con-
28 duct. The authority and any subsidiary
corporation created pursuant to
29 this act shall be considered a governmental
entity for purposes of the
30 Kansas tort claims act, K.S.A. 75-6102, and
amendments thereto.
31 New Sec.
10. The Kansas development finance authority shall enter
32 into an agreement with the corporation
through which all control, powers,
33 duties and functions of the authority
concerning its subsidiary corporation
34 the Kansas equity fund, inc. are
transferred to the corporation.
35 Sec. 11. K.S.A. 74-5082,
74-5083, 74-5084 and 74-5085 and K.S.A.
36 1999 Supp. 74-5086a are hereby
repealed.
37 Sec. 12. This act shall
take effect and be in force from and after its
38 publication in the statute book.