This bill modifies provisions related to the Utah Homes Investment Program.
This bill:
- expands the projects for which a qualified depository may offer loan financing to a developer or city under the Utah Homes Investment Program (program) to include:
multi-family housing development projects that meet specified criteria;affordable rental projects;acquisition of housing development projects that meet specified criteria; andcity-operated programs that provide low-interest loans to income-eligible homeowners to make improvements;
- allows a municipality with an eligible shelter to obtain financing through the program;
- following the end of the program, directs the state treasurer to complete a study that analyzes the economic effect of the program;
- allows the state treasurer to contract with a third party to complete the study;
- removes the limitation on the rate at which a qualified depository may offer loan financing to a developer or city; and
- makes technical and conforming changes.Statutes affected:
Introduced: 51-12-102, 51-12-202, 63I-1-251, 63I-1-272
Substitute #2: 51-12-101, 51-12-102, 51-12-202, 51-12-203, 51-12-204, 63I-1-251, 63I-1-272
Substitute #1: 51-12-101, 51-12-102, 51-12-202, 51-12-203, 51-12-204, 63I-1-251, 63I-1-272