Bill > HB245

This bill establishes the Rural Workforce Housing Investment Act, which creates a grant program within the Missouri Department of Economic Development to support housing development in rural communities (defined as cities or counties with fewer than 50,000 inhabitants). The bill allows nonprofit development organizations to apply for grants up to $1 million over two years to establish workforce housing investment funds, with a requirement for matching funds on a one-to-one basis. Workforce housing is defined as housing for working families that is affordable (owner-occupied units under $275,000 to construct, rental units under $200,000) and not reliant on existing low-income housing tax credits or other government housing programs. Grant recipients must focus on new housing construction, substantial rehabilitation of existing housing, or upper-story housing development in areas with demonstrated workforce housing needs. Nonprofit organizations must have an active board of directors, use grant funds for qualified housing activities, and submit annual reports detailing their investments and program activities. The bill creates a dedicated state treasury fund to support these housing initiatives, with unspent funds potentially being transferred to the Missouri Housing Trust Fund after 2030. The program aims to help rural communities attract and retain workers by addressing housing shortages and improving local housing stock.