(a) It is hereby found and declared that Alabama is in need of more safe, decent, and affordable housing for residents with incomes at or below 60 percent of the median family income.
(b) It is further declared that the lack of affordable housing in Alabama adversely affects a community's ability to develop and maintain a viable and stable economy. The establishment of the Alabama Housing Trust Fund is intended to:
(1) Provide a flexible source of funding for all Alabama communities to address their affordable housing needs.
(2) Help families attain economic stability.
(3) Revitalize blighted and distressed neighborhoods by creating safe, decent, and affordable housing.
(4) Contribute to economic growth through increased housing production, employment, and tax revenue, thereby benefiting all Alabama residents.
(5) Alleviate deficiencies in the supply of safe, decent, and affordable housing for residents with incomes at or below 60 percent of the median family income, many of whom are physically disabled, elderly, victims of domestic violence, veterans, homeless or on the verge of homelessness, living with HIV/AIDS, or living with developmental disabilities.
(6) Alleviate deficiencies in the supply of safe, decent, and affordable housing in rural areas of the state.
Structure Code of Alabama
Chapter 10 - Alabama Affordable Housing Act.
Section 24-10-1 - Short Title.
Section 24-10-2 - Definitions.
Section 24-10-3 - Legislative Findings.
Section 24-10-4 - Alabama Affordable Housing Trust Fund.
Section 24-10-5 - Duties of Alabama Department of Economic and Community Affairs.
Section 24-10-7 - Requirements for Eligibility.
Section 24-10-8 - Alabama Housing Trust Fund Advisory Committee - Composition; Expenses; Staff.
Section 24-10-9 - Alabama Housing Trust Fund Advisory Committee - Responsibilities.