This bill establishes a community heroes program under the housing finance authority, aimed at providing financial assistance for homeownership to essential workers, including healthcare, daycare, elder care workers, law enforcement officers, firefighters, first responders, educators, and active military members. The bill introduces a new section, RSA 204-C:57-b, which appropriates $1,500,000 annually to the housing finance authority for the community heroes program, with a stipulation that no more than 10% of the funds can be used for administrative expenses. Additionally, it appropriates $750,000 for the fiscal year ending June 30, 2027, to further expand the initiative.

The bill also includes provisions for the housing finance authority to define eligible borrowers through rulemaking and allows recipients to apply grant funds toward interest rate reductions. The effective date for the first section of the act is set for July 1, 2028, while the remainder will take effect 60 days after passage. The fiscal impact indicates that expenditures will be $750,000 in FY 2027 and $1,500,000 in FY 2028 and annually thereafter, with funding sourced from the Affordable Housing Fund and the General Fund.