A bill for an act relating to the housing renewal pilot program, including repayments of interest and income, and recaptures or returns of financial assistance awards.

Summary

The bill creates a housing renewal program fund in the state treasury, funded with $500,000 for FY 2022‑23, and requires interest and repayment revenues to stay in the fund. It changes how unused assistance awards are returned, sending them back to the nonprofit affiliate instead of the finance authority, and mandates that sold units go to buyers earning no more than 120% of area median income with resale restrictions for five years.

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

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