Bill > SB006

This bill aims to expand the investment authority of the Colorado State Treasurer by allowing investment in bonds specifically designed to create affordable for-sale housing. The legislation authorizes the State Treasurer to invest up to $50 million in bonds issued by quasi-governmental authorities for developing affordable homeownership opportunities. These investments can have below-market interest rates and can have terms up to 45 years. The housing created must be income-restricted, targeting borrowers earning up to 140% of the statewide area median income, with a particular focus on supporting the lowest-income borrowers. The bill requires that the housing remain affordable long-term and that the bonds have at least two credit ratings at or above A- or A3. The quasi-governmental authority issuing the bonds must provide an annual report to the Treasurer and General Assembly detailing the number of housing units constructed, their affordability levels, location, and average sale prices. The legislative declaration emphasizes that creating affordable homeownership opportunities is essential for supporting Colorado's workforce, providing housing stability, and facilitating intergenerational wealth, particularly given the limited state-funded subsidies available for for-sale housing compared to rental housing.

Housing and Urban Affairs

https://leg.colorado.gov/bills/sb25-006