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Legislative Year: 2023 Change
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Bill Detail: SB23-035

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Title Middle-income Housing Authority Act
Status Senate Committee on Local Government & Housing Refer Amended to Appropriations (01/26/2023)
Bill Subjects
  • Housing
  • Local Government
House Sponsors L. Herod (D)
Senate Sponsors D. Moreno (D)
J. Bridges (D)
House Committee
Senate Committee Local Government and Housing
Date Introduced 01/10/2023
Summary

Under current law, the middle-income housing authority
(authority) has the power to make and enter into contracts or agreements
with public or private entities to facilitate public-private partnerships. The
bill clarifies this power of the authority to enter into public-private
partnerships by specifying that:
  • The affordable rental housing component of a
public-private partnership is exempt from state and local
taxation;
  • A public-private partnership may provide for the transfer of
the interest in an affordable rental housing project to an
entity other than the authority;
  • The authority may issue bonds to finance the affordable
rental housing component in a public-private partnership;
and
  • Bonds issued by the authority may be payable from the
revenue and assets of the affordable rental housing
component of a public-private partnership or solely from
the revenue or assets of the authority as current law
requires.
Additionally, the bill expands the board of directors of the
authority from 14 to 16 by adding 2 nonvoting members. The senate
majority leader and the house majority leader will each appoint a member
of the general assembly from their respective chambers to serve as the 2
new nonvoting members, unless the senate majority leader and the house
majority leader are from the same political party in which case the house
minority leader will appoint the member to the board of directors from the
house.

Committee Reports
with Amendments
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Fiscal Notes Fiscal Notes (01/23/2023) (most recent)  
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