AN ACT relating to affordable housing programs established by local governments.

Summary

The bill lets cities, counties and other local entities set up a revolving loan program to finance affordable housing projects and home repairs for low‑income households. They can fund the program with an initial cash contribution and by issuing bonds or notes, and loans are secured by a lien on the property. Repayment includes interest and monthly penalties, and the program’s revenue is used to repay any debt issued for it.

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

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