HB 1035 Expanding Local Government Options to Grant Rent Relief and Preserve Affordable Housing
- Authorizes cities and counties to create an affordable housing incentive program for housing rented at below market level.
- Multifamily housing units must be 25 years old or older.
- 25% or more of the units must meet the requirement of "affordable"
- Authorizes an affordable housing incentive program to provide a six year property tax exemption to certain qualifying properties.
- Establishes various program requirements and administrative provisions.
- Hearing in the House Finance Committee on January 18th at 1:30 pm
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