SB 50

Allows the Housing and Community Services Department to use certain moneys in the Local Innovation and Fast Track Housing Program Fund set aside to purchase multifamily housing to convert to affordable housing.

Bill Text

• A-Engrossed
• Introduced
• Senate Amendments to Introduced

Allows the Housing and Community Services Department to use Local Innovation and Fast Track Housing Program funds to purchase multifamily housing for conversion to affordable housing.

Original Bill Text

Overview#

Digest: This Act lets OHCS use LIFT moneys for Metro counties to buy apartments for low-cost housing. (Flesch Readability Score: 68.9). [Digest: The Act tells OHCS to study housing. (Flesch Readability Score: 90.9).] [Requires the Housing and Community Services Department to study housing and to report to the interim committees of the Legislative Assembly related to housing by September 15, 2026.] Allows the Housing and Community Services Department to use certain moneys in the Local Innovation and Fast Track Housing Program Fund set aside to purchase multifamily housing to convert to affordable housing. Sunsets June 30, 2027. Updates sources of the fund. Declares an emergency, effective July 1, 2025.

Public Testimony

Legislative History