Bill > SB0277

This bill modifies the Utah Homes Investment Program by expanding the definition of a "qualified project" to include affordable rental projects with revenue sharing and programs by qualifying cities (cities of the first or second class, or municipalities with eligible shelters) that provide low-interest loans for home improvements to income-eligible homeowners, requiring a deed restriction for resale to owner-occupants within five years, and also includes new construction housing developments where at least 60% of units are "attainable homes" (residences purchased at a price affordable to a household with income up to 80% of the area median income). The bill also adjusts reporting requirements for the state treasurer, extends the repeal date for the Utah Homes Investment Program and related funds from July 1, 2028, to July 1, 2029, and mandates a study on the local economic benefits of the program's lending activities, with results to be reported by October 1, 2028.

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https://le.utah.gov/~2026/bills/static/SB0277.html