Bill addressing Utah’s affordable housing moves forward in legislative session
A bill designed to address and make Utah housing more affordable is moving forward in this year’s legislative session.
Sponsored by Rep. Steve Waldrip, House Bill 462 will provide more than $100 million for housing development throughout the state. According to Waldrip, the purpose of this bill isn’t to buy more housing, but to create more opportunities for private industries to create more housing.
Through the bill, money would be split in half and allocated towards gap financing for tax credit projects and towards the rural housing fund for loans.
Having received positive recommendations from the House Natural Resources, Agriculture and Environment Committee, the bill has advanced further in this year’s legislative session and lawmakers in support of this bill are hoping to aggressively push it into passing over the next few days.