Executive Office of Housing and Economic Development

Account	Description	FY07 GAA	FY08 GAA
7004-9315	Low-Income Housing Tax Credit Fee Retained Revenue For the low-income housing tax credit program; provided, that the department may expend not more than $2,334,014 from revenue collected from fees collected under Executive Order No. 291, pertaining to low-income housing tax credits, for the costs of administering and monitoring the programs, including the costs of personnel, subject to the approval of the director of the department; and provided further, that notwithstanding any general or special law to the contrary and for the purpose of accommodating timing discrepancies between the receipt of retained revenues and related expenditures, the department may incur expenses and the comptroller may certify for payment amounts not to exceed the lower of this authorization or the most recent revenue estimate as reported in the state accounting system, prior appropriation continued	2,200,000	2,334,014

HISTORICAL SPENDING CATEGORIES ($000)
SPENDING CATEGORY	FY04 Spending	FY05 Spending	FY06 Spending	FY07 Spending	FY08 GAA
Wages & Salaries	1,223	1,236	1,349	1,897	2,006
Pensions & Benefits	26	9	34	39	39
Operating Expenses	117	99	97	289	289
TOTAL	1,367	1,344	1,480	2,225	2,334

* FY07 Projected Spending includes the budget plus nearly $1 billion in spending from FY06 supplemental budgets.

Pie Chart: Wages & Salaries=86%, Pensions & Benefits=2%, Operating Expenses=12%