The bill H.479 establishes the Vermont Rental Housing Improvement Program, which introduces significant amendments to existing laws concerning funding for rental housing improvements. Key provisions include a new exemption for program participants from certain lending regulations and an increase in the maximum funding available for specific housing improvements. The bill mandates that at least 30% of the funds disbursed annually be allocated for grants and forgivable loans to eligible households, ensuring targeted support. Additionally, it requires annual reporting on the program's effectiveness and outcomes. The bill also creates the Vermont Manufactured Home Improvement and Repair Program, which provides financial assistance for improving manufactured homes and parks, and establishes the Vermont Infrastructure Sustainability Fund to aid municipalities in expanding water and sewer services to facilitate housing development.

Moreover, the bill forms a Residential Universal Design Study Committee to explore the implementation of universal design standards for residential buildings, with a report due by November 1, 2025. It amends existing laws to enhance housing appeals processes and improve the efficiency of the Brownfield Property Cleanup Program, prioritizing housing-related cases in the Environmental Division. The Secretary of Natural Resources is tasked with prioritizing remediation reviews at sites intended for housing. The bill also includes provisions for a report on challenges in redeveloping contaminated properties for housing and appropriates $2,500,000 from the General Fund for brownfield assessments and cleanups. Additionally, it modifies rental property owner requirements for annual certificates submitted to the Department of Taxes and directs the Vermont Housing Finance Agency to explore off-site housing construction strategies. The act is set to take effect on July 1, 2025, with certain sections effective upon passage.

Statutes affected:
As Introduced: 10-699, 24-119, 32-5404, 32-5930u, 10-8502, 10-8504, 24-4465, 24-4441, 10-6641, 32-6069
As Passed By the House -- Official: 10-699, 24-119, 32-5404, 32-5930u, 10-8502, 10-8504, 24-4465, 24-4441, 10-6641, 32-6069
As Passed By the House -- Unofficial: 10-699, 24-119, 32-5404, 10-8502, 10-8504, 24-4465, 24-4441, 10-6641, 32-6069