Bill > HB0360

This bill aims to improve housing attainability in Utah by making several modifications to existing laws. The bill extends the Utah Homes Investment Program until 2028 and expands its scope by allowing the Utah Housing Corporation to be a qualified depository for housing development projects. It modifies the definition of "moderate income housing" to include homes priced for households earning up to 120% of the area median income, and allows for more flexible use of surplus property by school districts, including selling or leasing property for moderate income housing. The bill also adjusts the composition of the Utah Housing Corporation's board of trustees, removing some previous restrictions on trustee appointments. Additionally, the bill provides new opportunities for cities of the first and second class to participate in housing development by allowing them to receive deposits and use funds to acquire and rehabilitate single-family homes for sale as attainable homes. The legislation includes provisions that require attainable homes to be owner-occupied for at least five years and aims to expand housing options for middle-income residents. The bill is set to take effect on July 1, 2025, and includes coordinating language with another potential housing-related bill.

Business and Industry, Government Affairs

https://le.utah.gov/~2025/bills/static/HB0360.html