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Legislative Year: 2022 Change
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Bill Detail: SB22-159

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Title Revolving Loan Fund Invest Affordable Housing
Status Governor Signed (05/26/2022)
Bill Subjects
  • Housing
House Sponsors P. Will (R)
D. Ortiz (D)
Senate Sponsors R. Zenzinger (D)
J. Bridges (D)
House Committee Finance
Senate Committee Local Government
Date Introduced 03/17/2022
Summary

The bill creates the transformational affordable housing revolving
loan fund program (loan program) in the division of housing (division) in
the department of local affairs (department) as a revolving loan program

in accordance with the requirements of the bill and the policies
established by the division. The loan program provides flexible,
low-interest, and below-market rate loan funding to assist eligible
recipients in completing the eligible loan projects identified in the bill.
The division may administer the loan program or, if it determines
that it would be more efficient and effective to contract out full or partial
administration of the program, the division may enter into a contract with
a third-party entity to administer the loan program.
The division is required to establish and publicize policies for the
loan program. The bill specifies factors the division is encouraged to
consider in evaluating loan applications.
The transformational affordable housing revolving loan fund
(fund) is created in the state treasury and the bill specifies requirements
pertaining to the administration of the fund.
The bill requires a transfer of a specified sum of money to the
fund.
The division is required to report on the activities of the loan
program as part of the regular annual public report prepared by the
division on affordable housing spending undertaken by the state.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (04/27/2022) (most recent)  
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