Bill > HB1466

This bill expands the definition of a "qualified property" for the Appraisal Gap From Historic Redlining Financial Assistance Program, which aims to address appraisal gaps in historically redlined neighborhoods by providing financial assistance to affordable housing developers and individuals purchasing homes in these areas. Previously, a qualified property had to be newly constructed or substantially rehabilitated from a vacant structure, located in a low-income census tract (as defined by the U.S. Department of Housing and Urban Development) and a designated sustainable community, and intended for sale to an owner-occupant at an affordable price. This bill adds an alternative criterion for location, allowing properties to qualify if they are in areas identified by the Department of Housing and Community Development as having been historically redlined or having undergone urban renewal, in addition to meeting the other requirements.

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https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB1466?ys=2026RS