Bill
HB 6313
Overview: HB 6313, AN ACT AUTHORIZING BONDS OF THE STATE FOR THE DEVELOPMENT OF AFFORDABLE HOUSING, was referred to the Joint Committee on Finance, Revenue and Bonding. It was intr
Overview: HB 6313, AN ACT AUTHORIZING BONDS OF THE STATE FOR THE DEVELOPMENT OF AFFORDABLE HOUSING, was referred to the Joint Committee on Finance, Revenue and Bonding. It was introduced on January 23, 2025.
Purpose and Intent: The bill aims to authorize the issuance of state bonds to fund the development of affordable housing projects throughout the state.
Key Provisions:
- Authorizes the state to issue up to $500 million in general obligation bonds to finance the construction, rehabilitation, and preservation of affordable housing units
- Directs the funds to be allocated to state and local housing agencies, as well as nonprofit and for-profit developers, to support affordable housing initiatives
- Establishes criteria for project eligibility and prioritization, such as targeting low-income households and underserved communities
Affected Parties and Impacts:
- State and local housing agencies, as well as affordable housing developers, would have access to additional funding to support their projects
- Low-income households and underserved communities would benefit from the increased availability of affordable housing units
Procedural and Timeline Considerations:
The bill has been referred to the Joint Committee on Finance, Revenue and Bonding for consideration. No further action has been taken at this time.
Compiled from official sources — confirm details with the bill’s official record.
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