The bill establishes the Wyoming Housing Investment Program, aimed at addressing the critical shortage of adequate and affordable housing in the state. It creates a dedicated account to manage funds for grants and loans to support various housing projects, including new construction, rehabilitation of existing housing, transitional housing for unhoused individuals, first-time homebuyer assistance, and rental voucher programs. The program will be administered by an authority that will set rules and manage the account, which will be funded through transfers from other state accounts and various contributions. The bill also outlines specific conditions for the grants and loans, including interest rates and eligibility criteria for nonprofit entities and business entities.

Additionally, the bill includes provisions for annual transfers of funds from the legislative stabilization reserve account and the strategic investments and projects account to the Wyoming housing investment account, ensuring a steady flow of resources to support the housing initiatives. It mandates annual reporting to the joint appropriations committee on the account's balance and the status of grants and loans. The program is set to sunset on July 1, 2031, after which all unexpended funds will be transferred to the state treasurer. The bill is effective immediately upon completion of the necessary legislative processes.

Statutes affected:
Introduced: 9-4-219, 9-4-220, 9-7-103