HB 4065
Authorizes cities and counties to adopt a program for awarding grants to developers of affordable housing and moderate income housing projects to finance certain costs associated with such housing projects.
| Status | In House Committee (HHOUSH) |
| Requested by | (at the request of House Interim Committee on Housing and Homelessness for Representative Maxine Dexter) |
| Sponsors | Maxine Dexter (Democrat) (Chief) |
| Fiscal impact | May have fiscal impact, but no statement yet issued |
| Revenue impact | May have revenue impact, but no statement yet issued |
Bill Text
HB4065 authorizes cities and counties to establish grant programs for affordable and moderate income housing developers, funded through an interest-free revolving loan program administered by the Housing and Community Services Department.
Overview#
Digest: The Act would create a fund for grants to developers of affordable housing. (Flesch Readability Score: 63.4). Authorizes cities and counties to adopt a program for awarding grants to developers of affordable housing and moderate income housing projects to finance certain costs associated with such housing projects. Directs the Housing and Community Services Department to develop a revolving loan program to make interest-free loans to participating cities and counties to fund the grants. Imposes an annual fee on each grantee developer in repayment of the loans. Provides for the distribution of the fee moneys first to fire districts for ad valorem property taxes and then to the department in repayment of the loan that funded the grant awarded to the developer. Appropriates moneys to the Housing and Community Services Department to provide grants to nonprofits to engage with tenants whose housing is being withdrawn from publicly supported housing. Takes effect on the 91st day following adjournment sine die.
Legislative History
| Date | Chamber | Action |
|---|---|---|
| 2024-02-05 | H | First reading. Referred to Speaker's desk. |
| 2024-02-05 | H | Referred to Housing and Homelessness with subsequent referral to Ways and Means. |
| 2024-03-07 | H | In committee upon adjournment. |