This bill allows for the disposal of state surplus property at less than fair market value if the property is transferred to a nonprofit organization for the purpose of constructing affordable housing. The bill adds a new paragraph to RSA 4:40, stating that the property may be sold or leased at less than fair market value if it is sold to a nonprofit entity for the construction and development of affordable housing. The department is required to convey the property with necessary covenants and restrictions to ensure that it is used for this purpose. The bill will take effect 60 days after its passage.

Statutes affected:
Introduced: 4:40