Bill > H0775

This bill aims to increase housing availability by creating new programs and expanding existing financial tools. It establishes a Rural Housing Finance Pilot Program and an off-site construction accelerator pilot program to explore innovative housing production methods, including modular construction and bulk purchasing of pre-fabricated housing components. Municipalities will be authorized to issue revenue bonds, which are debt instruments repaid by specific revenue sources, backed by special assessments on properties benefiting from public improvements, allowing them to finance local infrastructure projects without impacting general municipal debt. The bill also increases the financial capacity of the Office of the State Treasurer to establish a credit facility, which is a line of credit or financial guarantee, to fund infrastructure in mobile home parks, and allows the Treasurer to retain interest earned on loans made through these credit facilities to further promote housing development and the bulk purchase of off-site constructed housing. Additionally, a new Vermont Housing Special Fund will be created to manage this interest income. The bill also modifies existing laws to allow the Vermont Economic Development Authority to finance multi-unit housing developments and requires municipalities to plan for housing needs, including identifying and addressing constraints to development.

Budget and Finance, Housing and Urban Affairs

https://legislature.vermont.gov/bill/status/2026/H.775