Bill > SF0064

This bill establishes the Wyoming Housing Revolving Loan Program to address a critical shortage of adequate and affordable housing, including "workforce housing" which refers to housing for essential workers. The program will be managed by an "authority" (likely a state agency) and will operate through a dedicated "Wyoming Housing Revolving Loan Account" which is continuously funded and does not lapse at the end of a fiscal year. This account will receive funds from various sources, including a significant initial transfer of $30 million from either the strategic investments and projects account or, if that account is repealed, the legislative stabilization reserve account. Up to 80% of the account's balance can be used for loans to local governments, housing authorities, and nonprofit entities for new construction, rehabilitation, or land acquisition for affordable and workforce housing, with interest rates determined by the authority but not exceeding the federal funds rate. The remaining 20% can be used for loans to the same entities for planning and predevelopment expenses, with a zero percent interest rate. All repaid loan funds will be returned to the revolving loan account. The bill also mandates an application process for these loans, allows for administrative fees for project monitoring, requires the Attorney General's approval for loan legality, and requires the authority to report annually to the joint appropriations committee on the program's financial status and loan activity. Finally, the bill makes a conforming amendment to include the new program within the definition of "this act" and sets an immediate effective date.

https://www.wyoleg.gov/Legislation/2026/SF0064