DECLARING THE INTENT THAT AFFORDABLE HOUSING CREDITS ARE PERPETUAL AND REMAIN VALID UNTIL REDEEMED, AND REQUESTING THE COUNTIES TO RECOGNIZE THESE CREDITS WITHOUT EXPIRATION DATES.

Summary

HCR 38 states that affordable housing credits issued under state law are a vested, perpetual asset that remains valid until redeemed. It asks each county to align its rules so the credits are not limited by any expiration dates or other time restrictions. The measure aims to preserve the financial incentive for developers to build affordable units amid a severe housing shortage.

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