Alabama Legislature approves housing stimulus bill

MONTGOMERY, Ala. (AP) - The Alabama Legislature has given final
passage to a stimulus bill that would spend $6 million in state
funds to help spur home sales in the state.

The bill was sponsored by Democratic Sen. Lowell Barron of
Fyffe. It would take $6 million from an oil and gas revenue savings
account and put it into a fund to guarantee mortgages administered
by the Alabama Housing Finance Authority.

The program would be open to families making less than $98,230 a
year who have a minimum credit score of 620 and complete a
home-buying counseling course.

The bill received final passage on a 101-0 vote in the House
Tuesday. It had passed the Senate 28-0 and now goes to Gov. Bob
Riley for his approval.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 42227527 -
Gray Television, Inc.