Mixed-income housing; creating a two-year pilot program that provides loan origination, etc.

The funding source changed from a pilot program utilizing up to 15% of the Virginia Housing Trust Fund annual deposit to a permanent 'Virginia Housing Revolving Loan Fund' established in the state treasury.

The temporary two-year pilot program described in the original text was removed and replaced with a permanent fund structure.

A new requirement was added for the Department to submit a single 'consolidated report' annually by October 1, combining multiple existing reporting mandates.

A new definition for 'Fund' was added to define the Virginia Housing Revolving Loan Fund created by the chapter.

The document format changed from an Enrolled Act to a Substitute Bill, indicating it is now a draft version offered for consideration rather than a finalized law.

Removed permanent amendments to the Virginia Housing Trust Fund that allowed up to 20% of funds for general homelessness efforts and mixed-income housing, replacing them with a temporary pilot program.

Added a specific two-year duration for the program, replacing the original permanent statutory changes.

Changed the funding source from a general 20% allocation of the Fund to a specific cap of up to 15% of the annual deposit made to the Virginia Housing Trust Fund for this pilot.

Added a new definition for 'Housing project' specifically requiring a mix of low-to-moderate income and market-rate residential units.

Replaced the original requirement to report on homelessness reduction and general affordable housing units with new reporting requirements focused on loan awards, financing sources, and occupancy rates for mixed-income projects.

Introduced the concept of 'Eligible entities' to include a broader range of legal structures (like joint ventures and cooperatives) for the pilot program, distinct from the original list of eligible organizations.