Bill > HB06347

This bill establishes a down payment assistance program specifically designed to help low and moderate income individuals and families purchase homes through the Southeastern Connecticut Community Land Trust. The legislation allocates $300,000 from the General Fund to the Department of Housing for the fiscal year ending June 30, 2026, to support this program. The Community Land Trust is a type of affordable housing model where the organization owns the land and sells or leases the home to low-income buyers, typically at a more affordable price than traditional real estate markets. By providing down payment assistance, the bill aims to reduce the financial barriers that often prevent lower-income households from becoming homeowners, potentially increasing housing stability and wealth-building opportunities for these families in the Southeastern Connecticut region.

Housing and Urban Affairs

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB06347&which_year=2025