Joint powers agreements: nonprofit housing developers.

Summary

The bill lets nonprofit housing developers form joint powers agreements with public agencies to pool risks and provide insurance. It adds these developers to the list of entities that can enter such agreements and requires any public agency involved to be indemnified against the developer’s debts. Revenues generated must be used only for operating costs and services that help members reduce risk and improve capacity.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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