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S 127

An act relating to housing and housing development

2025-2026 Regular Session

S 127 - An Act Relating to Housing and Housing Development OverviewBill Number: S 127 Title: An act relating to housing and housing development Status: Signed by Governor on June

Senate Message: Signed by Governor June 12, 2025
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Bill Summary · S 127

S 127 - An Act Relating to Housing and Housing Development

Overview

Bill Number: S 127
Title: An act relating to housing and housing development
Status: Signed by Governor on June 12, 2025
Introduced: January 16, 2025

Purpose and Intent

The primary goal of this legislation is to address the growing housing affordability crisis by incentivizing the construction of new affordable housing units and promoting more inclusive, equitable housing development across the state. Lawmakers aim to leverage state resources and partnerships to spur the creation of diverse, mixed-income housing options that meet the needs of low- and middle-income residents.

Key Provisions

  • Establishes a new state-level "Housing Trust Fund" to provide grants and low-interest loans for the development of affordable rental and ownership housing
  • Mandates that all municipalities update their zoning codes within 2 years to allow for increased density, accessory dwelling units, and other measures to facilitate more diverse housing options
  • Creates a state tax credit program to incentivize private developers to include a minimum percentage of affordable units in new residential projects
  • Allocates funding for a statewide housing needs assessment and the development of a comprehensive, long-term housing strategy
  • Directs state agencies to prioritize housing affordability in all relevant policy decisions and program implementation

Affected Parties and Impacts

This legislation is expected to have far-reaching impacts on housing availability and affordability across the state, benefiting low- and middle-income residents, local governments, and the real estate development industry. Key stakeholders include:

  • Low- and middle-income households who will gain access to more affordable housing options
  • Local governments that will receive technical and financial assistance to update zoning and land use policies
  • Real estate developers who can leverage new incentives and funding sources to build more diverse, mixed-income housing projects

Procedural and Timeline Considerations

S 127 was signed into law by the Governor on June 12, 2025 after passing both chambers of the state legislature with bipartisan support. The new Housing Trust Fund and tax credit program will be implemented starting in the 2026 fiscal year, while the zoning code updates and housing needs assessment are required to be completed within the next 24 months. Ongoing monitoring and reporting on the law's impacts will inform potential future policy refinements.

Compiled from official sources — confirm details with the bill’s official record.

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