Guam – A public hearing was held Monday on a bill that would transfer unused interest from security deposits paid to landlords to the housing trust fund for use.
Senator Tina Muna Barnes says she introduced the bill at the request of the Guam Housing Corporation, but there were concerns raised by lawmakers and landlords.
The bill would allow for additional income to help first time homeowners.
She’s asking those with concerns to speak with her directly on their issues.
READ the release from Senator Muna-Barnes below:
“Senators Tina Muna Barnes addresses concerns of Landlords and Realtors regarding Bill208-32.”
Hagåtña- December 16, 2013- Senators Tina Muna Barnes today addressed concerns expressed by both landlords and realtors in reaction to Bill 208-32.
Bill 208-32 was introduced at the specific request of the Guam Housing Corporation as a way to garner additional income for the Housing Trust Fund.
“I introduced this bill at the request of the Guam Housing Corporation and was assured that the concept was endorsed by the Affordable Housing Coordinating Council,” said Muna Barnes. Muna Barnes, further stated “I encourage anyone who was questions or concerns about this bill to contact my office directly.”
The bill seeks to require that the interest earned on security deposits be transferred to the Housing Trust Fund to assist first time home owners.