This bill amends provisions related to affordable housing.
This bill:
- defines terms;
- enacts provisions related to residential overlay for the development of certain types of dwellings on certain sized lots;
- directs the Utah Housing Corporation to make rules regarding procedures, qualifications, and requirements for private financial institutions that offer certain mortgage loans to first-time homebuyers;
- provides that first-time home buyers may use certain mortgage loans for specified purposes; and
- makes technical and conforming changes.

Statutes affected:
Introduced: 51-12-101, 63H-8-501, 63H-8-502