Bill > HB1687

This bill amends existing state law to include "social housing public development authorities" alongside traditional "housing authorities" in various provisions related to public housing development and cooperation. It clarifies that these new authorities, which are public corporations created to develop, maintain, and operate social housing, are considered a proper public purpose for which public funds can be used. The bill also defines key terms such as "social housing" (which can be subsidized and cross-subsidized rental housing for households of any income level, publicly owned in perpetuity), "cross-subsidized" (where higher rents support lower rents), and income levels like "low-income," "moderate-income," and "high-income households" based on percentages of the median household income. Essentially, this legislation expands the framework for public housing development to encompass these social housing entities, allowing them to receive similar support and cooperation from state public bodies, including cities, towns, and counties, in planning, construction, operation, and financial assistance, and to enter into agreements regarding in-lieu tax payments.