Bill > HB2359

This bill modifies existing laws related to funding for affordable housing and related services by adjusting the maximum sales and use tax rate that counties and cities can impose for these purposes to 0.1 percent, and expands the allowable uses of these funds to include rehabilitation of existing affordable housing, operations and maintenance of both new and existing affordable housing, and behavioral health facilities. It also clarifies that at least 60 percent of collected funds must be used for housing or behavioral health facilities, and specifies eligible populations for affordable housing, including those with behavioral health disabilities, veterans, seniors, homeless individuals, youth, people with disabilities, and domestic violence survivors. The bill also allows for interlocal agreements between jurisdictions to pool tax receipts and bond proceeds, and permits the use of up to 50 percent of collected funds for bond repayment to finance affordable housing projects. Additionally, it adjusts the timeframe for certain tax provisions and introduces an expiration date for one section and an effective date for another, ensuring continuity and adaptation of these funding mechanisms.