The bill amends the Wyoming Urban Renewal Code to expand its application to include the provision of affordable housing. It introduces new findings and definitions, emphasizing the lack of affordable housing in municipalities and its negative impact on public health, safety, and welfare. The bill defines "affordable housing" as housing where the total gross household income of the occupant does not exceed 120% of the median gross household income for the county. Additionally, it modifies existing definitions related to "blighted areas" and "urban renewal projects" to incorporate affordable housing initiatives.

Key amendments include provisions that municipalities must consider the development of affordable housing when planning urban renewal projects and that they should afford maximum opportunity for private enterprise to contribute to these efforts. The bill also stipulates that municipalities can acquire property for urban renewal projects, provided they determine a lack of affordable housing exists. Furthermore, it mandates that the Department of Revenue create rules to implement the new provisions, with the act taking effect immediately upon passage, while specific sections will be effective from July 1, 2025.

Statutes affected:
Introduced: 15-9-102, 15-9-103, 15-9-104, 15-9-105, 15-9-106, 15-9-107, 15-9-110, 15-9-114, 15-9-115, 15-9-116, 15-9-120