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Legislative Year: 2022 Change
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Bill Detail: SB22-232

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Title Creation Of Colorado Workforce Housing Trust Authority
Status Governor Signed (06/03/2022)
Bill Subjects
  • Housing
  • State Government
House Sponsors L. Herod (D)
T. Bernett (D)
Senate Sponsors D. Moreno (D)
J. Bridges (D)
House Committee Appropriations
Senate Committee State, Veterans and Military Affairs
Date Introduced 04/26/2022
Summary

The bill creates the Colorado workforce housing trust authority
(authority) for the purpose of acquiring, constructing, rehabilitating,
owning, operating, and financing affordable rental housing projects for
middle-income workforce housing. The authority is governed by a board
of directors composed of appointees by the governor with the consent of

the senate. The bill specifies requirements governing the appointment of
board members and other administrative details. The board must solicit
project proposals by October 1, 2022. Rental units in affordable rental
housing projects must provide middle-income workforce housing with
stable rents.
The authority is a public entity and is a special purpose
authority for the purpose of TABOR.
The authority is authorized to exercise the powers necessary to
acquire, construct, rehabilitate, own, operate, and finance affordable
rental housing projects, including but not limited to:
  • The power to issue bonds payable solely from revenues
from affordable rental housing projects and with no
recourse to the state;
  • The power to enter into public-private partnerships and to
contract with experienced real estate professionals to
develop and operate affordable rental housing projects;
  • The power to employ its own personnel or contract with
public or private entities, or both, for services necessary or
convenient to the conduct of all of the authority's activities;
  • To provide assistance to tenants in its rental housing to
enable a transition to home ownership; and
  • To establish one or more controlled entities to carry out its
activities.

Committee Reports
with Amendments
Full Text
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Fiscal Notes Fiscal Notes (05/10/2022) (most recent)  
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