Lawmakers OK Riley changes to housing stimulus


The Alabama Legislature has gone along with a change made by Gov. Bob Riley to a stimulus bill that would spend $6 million in state funds to help spur home sales in the state.

The approval of the governor's executive amendment means the bill will become law.

The House voted 95-0 Tuesday for a minor change made by the governor to the bill concerning how payments would be made. The Senate had approved the governor's executive amendment last week.

The bill was sponsored by 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.

Home buyers eligible for the program would not have to make a down payment.

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