Colorado 2024 Regular Session

Colorado House Bill HB1308 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
	1	+	Second Regular Session
	2	+	Seventy-fourth General Assembly
	3	+	STATE OF COLORADO
	4	+	REREVISED
	5	+	This Version Includes All Amendments
	6	+	Adopted in the Second House
	7	+	LLS NO. 24-0710.01 Megan McCall x4215
1	8		HOUSE BILL 24-1308
2		-	BY REPRESENTATIVE(S) Frizell and Lindstedt, Amabile, Bacon, Bird,
3		-	Boesenecker, Brown, Clifford, Daugherty, Duran, Epps, Froelich, Garcia,
4		-	Hamrick, Hernandez, Jodeh, Joseph, Kipp, Lieder, Lindsay, Lukens,
5		-	Mabrey, Marshall, Marvin, McCormick, Ortiz, Parenti, Rutinel, Sirota,
6		-	Snyder, Story, Titone, Valdez, Velasco, Vigil, Willford, Woodrow, Young,
7		-	McCluskie;
8		-	also SENATOR(S) Gonzales, Bridges, Buckner, Coleman, Cutter, Exum,
9		-	Jaquez Lewis, Kolker, Michaelson Jenet, Mullica, Priola, Roberts,
10		-	Winter F.
	9	+	House Committees Senate Committees
	10	+	Transportation, Housing & Local Government Local Government & Housing
	11	+	Appropriations Appropriations
	12	+	A BILL FOR AN ACT
11	13		C
12		-	ONCERNING PROVISIONS TO FACILITATE THE EFFECTIVE IMPLEMENTATION
13		-	OF PROGRAMS FOR AFFORDABLE HOUSING
14		-	, AND, IN CONNECTION
15		-	THEREWITH
16		-	, ADDING ANNUAL REPORTING REQUIREMENTS BY THE
17		-	DIVISION OF HOUSING CONCERNING APPLICATIONS FOR AFFORDABLE
18		-	HOUSING PROGRAMS AND MONEY IN AND ISSUED FROM THE HOUSING
19		-	DEVELOPMENT GRANT FUND
20		-	; CREATING A PROCESS FOR REVIEWING
21		-	AND APPROVING APPLICATIONS FOR ALL AFFORDABLE HOUSING
22		-	PROGRAMS BY THE DIVISION OF HOUSING
23		-	; MAKING MODIFICATIONS TO
24		-	THE
25		-	"CITY HOUSING LAW" TO ALLOW A CITY TO OWN OR LEASE AND
26		-	MANAGE
27		-	, OPERATE, OR MAINTAIN, OR CONTRACT FOR MANAGEMENT ,
28		-	OPERATION, OR MAINTENANCE OF HOUSING PROJECTS ; AND
29		-	SPECIFYING THE REQUIREMENTS FOR AN APPLICATION AND ANNUAL
30		-	REPORTS FOR PURPOSES OF A PROPERTY TAX EXEMPTION FOR A
31		-	NOTE: This bill has been prepared for the signatures of the appropriate legislative
32		-	officers and the Governor. To determine whether the Governor has signed the bill
33		-	or taken other action on it, please consult the legislative status sheet, the legislative
34		-	history, or the Session Laws.
35		-	________
36		-	Capital letters or bold & italic numbers indicate new material added to existing law; dashes
37		-	through words or numbers indicate deletions from existing law and such material is not part of
38		-	the act. COMMUNITY LAND TRUST OR NONPROFIT AFFORDABLE
39		-	HOMEOWNERSHIP DEVELOPER FOR PROPERTY THAT HAS BEEN
40		-	SUBDIVIDED
41		-	.
42		-
43		-	Be it enacted by the General Assembly of the State of Colorado:
44		-	SECTION 1. Legislative declaration. (1) The general assembly
45		-	finds and declares that:
46		-	(a) The lack of timely affordable housing grants and loans directly
47		-	impacts the market ability to generate new affordable housing opportunities;
48		-	(b) The goals of the division of housing's grant and loan programs
49		-	should be to address housing needs throughout the state, serve populations
50		-	with the greatest unmet need, optimize the housing stability of households
51		-	served, and promote the sustainability of affordable housing development
52		-	projects rather than maximizing financial returns to the state;
53		-	(c) The division of housing should seek to find balance in providing
54		-	project subsidy levels that support the overall health, resiliency, and ability
55		-	to advance the work of mission-based organizations without
56		-	over-subsidizing projects or strictly forcing these organizations to maximize
57		-	debt leverage or functionally eliminate cash flow;
58		-	(d) The grant, loan, and overall fund administration practices of the
59		-	division of housing over the last three years have resulted in measurable
60		-	project delays including time lost and increased fiscal costs from higher
61		-	interest and holding costs;
62		-	(e) The current grant and fund administrative practices of the
63		-	division of housing limit the ability of nonprofit housing providers and
64		-	housing authorities to deliver affordable housing to Colorado residents who
65		-	need it;
66		-	(f) A streamlined and transparent process for awarding the division
67		-	of housing's limited pool of housing development funding sources to all
68		-	housing resources administered by the division of housing will optimize the
69		-	outcomes of a particular program or particular use to the benefit of residents
70		-	served through affordable housing development projects;
71		-	PAGE 2-HOUSE BILL 24-1308 (g) A sustainable and stable network of affordable housing providers
72		-	will result in the creation, operation, and preservation of income-restricted
73		-	affordable housing stock for low- and moderate-income households;
74		-	(h) Streamlining the review and award process, including providing
75		-	transparent expectations on process and timing, reducing administrative
76		-	barriers, and providing clear guidelines for submission and awards, is
77		-	fundamental to the financial sustainability of grantees and awardees and the
78		-	success of affordable housing development projects; and
79		-	(i) Streamlining the review and award process will support the
80		-	preservation of naturally occurring and subsidized affordable housing.
81		-	(2) The general assembly further finds that it is necessary for the
82		-	state to improve the efficiency and timelines of the application and award
83		-	process of affordable housing development grant and loan money.
84		-	SECTION 2. In Colorado Revised Statutes, 24-32-705, add (1)(x)
85		-	as follows:
86		-	24-32-705. Functions of division. (1) The division has the
87		-	following functions:
	14	+	ONCERNING PROVISIONS TO FACILITATE THE EFFECTIVE101
	15	+	IMPLEMENTATION OF PROGRAMS FOR AFFORDABLE HOUSING ,102
	16	+	AND, IN CONNECTION THEREWITH , ADDING ANNUAL REPORTING103
	17	+	REQUIREMENTS BY THE DIVISION OF HOUSING CONCERNING104
	18	+	APPLICATIONS FOR AFFORDABLE HOUSING PROGRAMS AND105
	19	+	MONEY IN AND ISSUED FROM THE HOUSING DEVELOPMENT106
	20	+	GRANT FUND; CREATING A PROCESS FOR REVIEWING AND107
	21	+	APPROVING APPLICATIONS FOR ALL AFFORDABLE HOUSING108
	22	+	PROGRAMS BY THE DIVISION OF HOUSING ; MAKING109
	23	+	MODIFICATIONS TO THE "CITY HOUSING LAW" TO ALLOW A110
	24	+	CITY TO OWN OR LEASE AND MANAGE, OPERATE, OR MAINTAIN,111
	25	+	OR CONTRACT FOR MANAGEMENT , OPERATION , OR112
	26	+	MAINTENANCE OF HOUSING PROJECTS ; AND SPECIFYING THE113
	27	+	SENATE
	28	+	3rd Reading Unamended
	29	+	May 4, 2024
	30	+	SENATE
	31	+	2nd Reading Unamended
	32	+	May 3, 2024
	33	+	HOUSE
	34	+	3rd Reading Unamended
	35	+	April 24, 2024
	36	+	HOUSE
	37	+	Amended 2nd Reading
	38	+	April 20, 2024
	39	+	HOUSE SPONSORSHIP
	40	+	Frizell and Lindstedt, Amabile, Bacon, Bird, Boesenecker, Brown, Clifford, Daugherty,
	41	+	Duran, Epps, Froelich, Garcia, Hamrick, Hernandez, Jodeh, Joseph, Kipp, Lieder, Lindsay,
	42	+	Lukens, Mabrey, Marshall, Marvin, McCluskie, McCormick, Ortiz, Parenti, Rutinel, Sirota,
	43	+	Snyder, Story, Titone, Valdez, Velasco, Vigil, Willford, Woodrow, Young
	44	+	SENATE SPONSORSHIP
	45	+	Gonzales, Bridges, Buckner, Coleman, Cutter, Exum, Jaquez Lewis, Kolker, Michaelson
	46	+	Jenet, Mullica, Priola, Roberts, Winter F.
	47	+	Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
	48	+	Capital letters or bold & italic numbers indicate new material to be added to existing law.
	49	+	Dashes through the words or numbers indicate deletions from existing law. REQUIREMENTS FOR AN APPLICATION AND ANNUAL REPORTS101
	50	+	FOR PURPOSES OF A PROPERTY TAX EXEMPTION FOR A102
	51	+	COMMUNITY LAND TRUST OR NONPROFIT AFFORDABLE103
	52	+	HOMEOWNERSHIP DEVELOPER FOR PROPERTY THAT HAS BEEN104
	53	+	SUBDIVIDED.105
	54	+	Bill Summary
	55	+	(Note: This summary applies to this bill as introduced and does
	56	+	not reflect any amendments that may be subsequently adopted. If this bill
	57	+	passes third reading in the house of introduction, a bill summary that
	58	+	applies to the reengrossed version of this bill will be available at
	59	+	http://leg.colorado.gov
	60	+	.)
	61	+	Under current law, the division of housing (division) within the
	62	+	department of local affairs must submit an annual public report on the
	63	+	funding of affordable housing preservation and production (public
	64	+	report). The bill requires the division to add to the public report
	65	+	information on applications for affordable housing programs that the
	66	+	division administers, including the number of applications approved,
	67	+	denied, and pending, the amount of money awarded from approved
	68	+	applications, and the amount of money applied for but not awarded from
	69	+	denied applications. The bill also requires the division to add to the public
	70	+	report information regarding money in the housing development grant
	71	+	fund, including amounts in the fund and the use of the money in the
	72	+	preceding year.
	73	+	The bill also establishes procedures and timelines for the division
	74	+	to follow for affordable housing programs administered by the division.
	75	+	The bill requires that the division accept applications once a month or on
	76	+	a rolling basis and requires that the division review applications and issue
	77	+	any requests for additional information, forms, or questions to applicants
	78	+	within 10 calendar days of an application period closing. The division
	79	+	must either issue final decisions on applications or submit applications to
	80	+	the board of housing for final decision within 45 days following the
	81	+	submission of completed applications. If applications are submitted to the
	82	+	state housing board, the state housing board must make a final decision
	83	+	on an application within 15 days of receiving the application.
	84	+	After a final decision approving an application, the division shall
	85	+	issue an award letter that includes information on the timeline for issuing
	86	+	money to the applicant, any terms for a loan or grant period, and any
	87	+	conditions that must be met before a contract in connection with the
	88	+	approval is executed. The division shall also provide a draft contract to
	89	+	the approved applicant within 30 days of the application being approved.
	90	+	1308-2- Within 90 days of the division receiving a substantially complete
	91	+	post-award due diligence package from an approved applicant, the
	92	+	division shall execute any required contracts for the affordable housing
	93	+	program and send it to the approved applicant within 10 days of
	94	+	execution.
	95	+	The bill also amends existing grant, loan, or other affordable
	96	+	housing programs administered by the division to require the application
	97	+	process to be followed for any applications submitted under these
	98	+	programs and requires any programs that have adopted policies,
	99	+	procedures, or guidelines for the application process to be amended if
	100	+	they are inconsistent with the application process established by the bill.
	101	+	Under current law, a local government or tribal government
	102	+	desiring to receive funding from the statewide affordable housing fund or
	103	+	desiring to make affordable housing projects within its territorial
	104	+	boundaries eligible for funding from the statewide affordable housing
	105	+	fund must establish a baseline number of affordable housing units within
	106	+	its territorial boundaries every 3 years, beginning in 2024, and commit to
	107	+	increasing affordable housing units by 3% each year over the baseline
	108	+	number within that 3-year period (affordable housing unit requirements).
	109	+	The bill allows a local government or tribal government to donate
	110	+	land to a community land trust or a nonprofit affordable homeownership
	111	+	developer for development as affordable homeownership property and
	112	+	receive a credit for the purposes of calculating whether the local
	113	+	government or the tribal government has met the affordable housing unit
	114	+	requirements for the year in which the land is donated. The credit is in the
	115	+	amount of one and one-half units per unit constructed on the donated land
	116	+	and is claimed when the building permits for the project have been
	117	+	approved by the applicable building authority. Additionally, a school
	118	+	district that donates land in the same manner may assign its credit to the
	119	+	local government or tribal government.
	120	+	Be it enacted by the General Assembly of the State of Colorado:1
	121	+	SECTION 1. Legislative declaration. (1) The general assembly2
	122	+	finds and declares that:3
	123	+	(a) The lack of timely affordable housing grants and loans directly4
	124	+	impacts the market ability to generate new affordable housing5
	125	+	opportunities;6
	126	+	(b) The goals of the division of housing's grant and loan programs7
	127	+	should be to address housing needs throughout the state, serve8
	128	+	1308-3- populations with the greatest unmet need, optimize the housing stability1
	129	+	of households served, and promote the sustainability of affordable2
	130	+	housing development projects rather than maximizing financial returns to3
	131	+	the state;4
	132	+	(c) The division of housing should seek to find balance in5
	133	+	providing project subsidy levels that support the overall health, resiliency,6
	134	+	and ability to advance the work of mission-based organizations without7
	135	+	over-subsidizing projects or strictly forcing these organizations to8
	136	+	maximize debt leverage or functionally eliminate cash flow;9
	137	+	(d) The grant, loan, and overall fund administration practices of10
	138	+	the division of housing over the last three years have resulted in11
	139	+	measurable project delays including time lost and increased fiscal costs12
	140	+	from higher interest and holding costs;13
	141	+	(e) The current grant and fund administrative practices of the14
	142	+	division of housing limit the ability of nonprofit housing providers and15
	143	+	housing authorities to deliver affordable housing to Colorado residents16
	144	+	who need it;17
	145	+	(f) A streamlined and transparent process for awarding the18
	146	+	division of housing's limited pool of housing development funding19
	147	+	sources to all housing resources administered by the division of housing20
	148	+	will optimize the outcomes of a particular program or particular use to the21
	149	+	benefit of residents served through affordable housing development22
	150	+	projects;23
	151	+	(g) A sustainable and stable network of affordable housing24
	152	+	providers will result in the creation, operation, and preservation of25
	153	+	income-restricted affordable housing stock for low- and moderate-income26
	154	+	households;27
	155	+	1308
	156	+	-4- (h) Streamlining the review and award process, including1
	157	+	providing transparent expectations on process and timing, reducing2
	158	+	administrative barriers, and providing clear guidelines for submission and3
	159	+	awards, is fundamental to the financial sustainability of grantees and4
	160	+	awardees and the success of affordable housing development projects;5
	161	+	and6
	162	+	(i) Streamlining the review and award process will support the7
	163	+	preservation of naturally occurring and subsidized affordable housing.8
	164	+	(2) The general assembly further finds that it is necessary for the9
	165	+	state to improve the efficiency and timelines of the application and award10
	166	+	process of affordable housing development grant and loan money.11
	167	+	SECTION 2. In Colorado Revised Statutes, 24-32-705, add12
	168	+	(1)(x) as follows:13
	169	+	24-32-705. Functions of division. (1) The division has the14
	170	+	following functions:15
88	171		(x) T
89		-	O OPTIMIZE THE OUTCOMES OF A PARTICULAR PROGRAM OR
90		-	PARTICULAR USE TO THE BENEFIT OF HOUSEHOLDS SERVED IN A MANNER
91		-	THAT OPTIMIZES THE SOCIOECONOMIC AND HOUSING STABILITY OUTCOMES
92		-	OF HOUSEHOLDS SERVED
93		-	; OPTIMIZES THE FINANCIAL SUSTAINABILITY OF AN
94		-	AFFORDABLE HOUSING PROJECT OR PROGRAM
95		-	; OPTIMIZES THE CREATION,
96		-	OPERATION, AND AFFORDABILITY LENGTH OF AFFORDABLE HOUSING STOCK
97		-	CREATED
98		-	; OPTIMIZES THE PRESERVATION OF NATURALLY OCCURRING AND
99		-	SUBSIDIZED AFFORDABLE HOUSING
100		-	; CONSIDERS THE IMPACT OF AWARD
101		-	TERMS ON THE FINANCIAL STABILITY OF THE ORGANIZATIONS DELIVERING
102		-	DEVELOPMENT PROJECTS AND RESIDENT SERVICES
103		-	; LEVERAGES OR IS
104		-	LEVERAGED BY OTHER AVAILABLE SOURCES OF MONEY
105		-	; ADDRESSES
106		-	HOUSING NEEDS THROUGHOUT THE STATE
107		-	; AND SERVES POPULATIONS WITH
108		-	THE GREATEST UNMET NEED
109		-	.
110		-	SECTION 3. In Colorado Revised Statutes, 24-32-705.5, amend
111		-	(1)(b) and (1)(c); and add (1)(d), (1.3), and (1.5) as follows:
112		-	PAGE 3-HOUSE BILL 24-1308 24-32-705.5. Annual public report on funding of affordable
113		-	housing preservation and production - definitions - repeal.
114		-	(1) Commencing in 2021 and every year thereafter, as part of the
115		-	department's presentation to its joint committees of reference at a hearing
116		-	held pursuant to section 2-7-203 (2)(a) of the "State Measurement for
117		-	Accountable, Responsive, and Transparent (SMART) Government Act", in
118		-	accordance with this section, the division shall prepare a public report that
119		-	specifies the total amount of money that:
120		-	(b) The division or the board has awarded from any federal, state,
121		-	other public, or any private source during the prior fiscal year in the form
122		-	of a grant, contract, or loan to promote the preservation or production of
123		-	emergency or affordable housing; and
124		-	(c) The division expended during the prior fiscal year on
125		-	administrative costs associated with each funding source identified in
126		-	subsection (1)(a) of this section and the number of full-time employees
127		-	supported by the funding source identified;
128		-	AND
129		-	(d) THE DIVISION USES OF EXISTING STATE AND FEDERAL FUNDS TO
130		-	PROVIDE THE BEST USE OF SUBSIDIES TO MAXIMIZE UNIT PRODUCTION
131		-	INCLUDING DEVELOPMENTS IN HIGH
132		-	-NEED, DIFFICULT-TO-DEVELOP AREAS,
133		-	AND CONFIRMATION OF RULES AND PRACTICES THAT ENSURE DEVELOPMENTS
134		-	ARE NOT DISQUALIFIED FROM FURTHER SUPPORT FROM THE DIVISION OR THE
135		-	OFFICE OF ECONOMIC DEVELOPMENT BASED ON PRIOR RECEIPT OF MONEY
136		-	PURSUANT TO ARTICLE
137		-	32 OF TITLE 29.
138		-	(1.3) F
139		-	OR THE PUBLIC REPORT REQUIRED PURSUANT TO SUBSECTION
140		-	(1) OF THIS SECTION, FOR 2025 AND EACH YEAR THEREAFTER, THE DIVISION
141		-	SHALL INCLUDE THE FOLLOWING INFORMATION CONCERNING ANY
142		-	AFFORDABLE HOUSING PROGRAM ADMINISTERED BY THE DIVISION IN THE
143		-	YEAR PRECEDING THE YEAR IN WHICH THE PUBLIC REPORT IS PRESENTED
144		-	:
	172	+	O OPTIMIZE THE OUTCOMES OF A PARTICULAR PROGRAM OR16
	173	+	PARTICULAR USE TO THE BENEFIT OF HOUSEHOLDS SERVED IN A MANNER17
	174	+	THAT OPTIMIZES THE SOCIOECONOMIC AND HOUSING STABILITY OUTCOMES18
	175	+	OF HOUSEHOLDS
	176	+	SERVED; OPTIMIZES THE FINANCIAL SUSTAINABILITY OF19
	177	+	AN AFFORDABLE HOUSING PROJECT OR PROGRAM; OPTIMIZES THE20
	178	+	CREATION, OPERATION, AND AFFORDABILITY LENGTH OF AFFORDABLE21
	179	+	HOUSING STOCK CREATED; OPTIMIZES THE PRESERVATION OF NATURALLY22
	180	+	OCCURRING AND SUBSIDIZED AFFORDABLE HOUSING ; CONSIDERS THE23
	181	+	IMPACT OF AWARD TERMS ON THE FINANCIAL STABILITY OF THE24
	182	+	ORGANIZATIONS DELIVERING DEVELOPMENT PROJECTS AND RESIDENT25
	183	+	SERVICES; LEVERAGES OR IS LEVERAGED BY OTHER AVAILABLE SOURCES26
	184	+	OF MONEY; ADDRESSES HOUSING NEEDS THROUGHOUT THE STATE ; AND27
	185	+	1308
	186	+	-5- SERVES POPULATIONS WITH THE GREATEST UNMET NEED .1
	187	+	SECTION 3. In Colorado Revised Statutes, 24-32-705.5, amend2
	188	+	(1)(b) and (1)(c); and add (1)(d), (1.3), and (1.5) as follows:3
	189	+	24-32-705.5. Annual public report on funding of affordable4
	190	+	housing preservation and production - definitions - repeal.5
	191	+	(1) Commencing in 2021 and every year thereafter, as part of the6
	192	+	department's presentation to its joint committees of reference at a hearing7
	193	+	held pursuant to section 2-7-203 (2)(a) of the "State Measurement for8
	194	+	Accountable, Responsive, and Transparent (SMART) Government Act",9
	195	+	in accordance with this section, the division shall prepare a public report10
	196	+	that specifies the total amount of money that:11
	197	+	(b) The division or the board has awarded from any federal, state,12
	198	+	other public, or any private source during the prior fiscal year in the form13
	199	+	of a grant, contract, or loan to promote the preservation or production of14
	200	+	emergency or affordable housing; and15
	201	+	(c) The division expended during the prior fiscal year on16
	202	+	administrative costs associated with each funding source identified in17
	203	+	subsection (1)(a) of this section and the number of full-time employees18
	204	+	supported by the funding source identified; AND19
	205	+	(d) THE DIVISION USES OF EXISTING STATE AND FEDERAL FUNDS TO20
	206	+	PROVIDE THE BEST USE OF SUBSIDIES TO MAXIMIZE UNIT PRODUCTION21
	207	+	INCLUDING DEVELOPMENTS IN HIGH-NEED, DIFFICULT-TO-DEVELOP AREAS,22
	208	+	AND CONFIRMATION OF RULES AND PRACTICES THAT ENSURE23
	209	+	DEVELOPMENTS ARE NOT DISQUALIFIED FROM FURTHER SUPPORT FROM24
	210	+	THE DIVISION OR THE OFFICE OF ECONOMIC DEVELOPMENT BASED ON PRIOR25
	211	+	RECEIPT OF MONEY PURSUANT TO ARTICLE 32 OF TITLE 29.26
	212	+	(1.3) FOR THE PUBLIC REPORT REQUIRED PURSUANT TO27
	213	+	1308
	214	+	-6- SUBSECTION (1) OF THIS SECTION, FOR 2025 AND EACH YEAR THEREAFTER,1
	215	+	THE DIVISION SHALL INCLUDE THE FOLLOWING INFORMATION CONCERNING2
	216	+	ANY AFFORDABLE HOUSING PROGRAM ADMINISTERED BY THE DIVISION IN3
	217	+	THE YEAR PRECEDING THE YEAR IN WHICH THE PUBLIC REPORT IS4
	218	+	PRESENTED:5
145	219		(a) T
146		-	HE NUMBER OF APPLICATIONS, BY ~~PROGRAM, SUBMITTED TO THE~~
147		-	~~DIVISION~~
148		-	;
	220	+	HE NUMBER OF APPLICATIONS, BY
	221	+	PROGRAM, SUBMITTED TO6
	222	+	THE DIVISION;7
149	223		(b) T
150		-	HE NUMBER OF APPLICATIONS APPROVED BY THE DIVISION , BY
151		-	PROGRAM
152		-	;
	224	+	HE NUMBER OF APPLICATIONS APPROVED BY THE DIVISION , BY8 PROGRAM;9
153	225		(c) T
154		-	HE NUMBER OF APPLICATIONS DENIED BY THE DIVISION , BY
155		-	PAGE 4-HOUSE BILL 24-1308 PROGRAM;
	226	+	HE NUMBER OF APPLICATIONS DENIED BY THE DIVISION , BY10 PROGRAM;11
156	227		(d) T
157		-	HE AGGREGATE AMOUNT OF MONEY AWARDED FOR ALL
158		-	APPROVED APPLICATIONS
159		-	;
	228	+	HE AGGREGATE AMOUNT OF MONEY AWARDED FOR ALL12
	229	+	APPROVED APPLICATIONS;13
160	230		(e) T
161		-	HE AGGREGATE AMOUNT OF MONEY APPLIED FOR BUT NOT
162		-	AWARDED FOR ALL DENIED APPLICATIONS
163		-	, BY PROGRAM; AND
164		-	(f) THE NUMBER OF APPLICATIONS, BY PROGRAM, PENDING REVIEW
165		-	AND THE AGGREGATE AMOUNT OF MONEY APPLIED FOR IN ALL PENDING
166		-	APPLICATIONS AT THE TIME OF THE PUBLIC REPORT
167		-	.
	231	+	HE AGGREGATE AMOUNT OF MONEY APPLIED FOR BUT NOT14
	232	+	AWARDED FOR ALL DENIED
	233	+	APPLICATIONS, BY PROGRAM; AND15
	234	+	(f) T
	235	+	HE NUMBER OF
	236	+	APPLICATIONS, BY PROGRAM, PENDING REVIEW16
	237	+	AND THE AGGREGATE AMOUNT OF MONEY APPLIED FOR IN ALL PENDING17
	238	+	APPLICATIONS AT THE TIME OF THE PUBLIC REPORT .18
168	239		(1.5) (a) F
169		-	OR THE PUBLIC REPORT REQUIRED PURSUANT TO
170		-	SUBSECTION
171		-	(1) OF THIS SECTION, FOR 2025AND EACH YEAR THEREAFTER ,
172		-	THE DIVISION SHALL INCLUDE THE FOLLOWING INFORMATION CONCERNING
173		-	THE FUND
174		-	:
	240	+	OR THE PUBLIC REPORT REQUIRED PURSUANT TO19
	241	+	SUBSECTION (1) OF THIS SECTION, FOR 2025AND EACH YEAR THEREAFTER ,20
	242	+	THE DIVISION SHALL INCLUDE THE FOLLOWING INFORMATION CONCERNING21
	243	+	THE FUND:22
175	244		(I) T
176		-	HE TOTAL AMOUNT OF REVENUE IN THE FUND AND AN
177		-	IDENTIFICATION OF EACH SOURCE OF ALL REVENUE IN THE FUND
178		-	CATEGORIZED BY THE AMOUNT OF REVENUE THAT IS ATTRIBUTABLE TO EACH
179		-	SOURCE
180		-	;
	245	+	HE TOTAL AMOUNT OF REVENUE IN THE FUND AND AN23
	246	+	IDENTIFICATION OF EACH SOURCE OF ALL REVENUE IN THE FUND24
	247	+	CATEGORIZED BY THE AMOUNT OF REVENUE THAT IS ATTRIBUTABLE TO25
	248	+	EACH SOURCE;26
181	249		(II) T
182		-	HE TOTAL AMOUNT OF MONEY IN THE FUND ;
	250	+	HE TOTAL AMOUNT OF MONEY IN THE FUND ;27
	251	+	1308
	252	+	-7- (III) THE AGGREGATE AMOUNT OF MONEY IN THE FUND1
	253	+	ENCUMBERED BY AN AWARD L ETTER AND THE AGGREG ATE AMOUNT OF2
	254	+	MONEY IN THE FUND ENCUMBERED BY AN EXECUTED CONTRACT FOR3
	255	+	GRANTS FROM THE FUND;4
	256	+	(IV) T
	257	+	HE AGGREGATE AMOUNT OF MONEY IN THE FUND5
	258	+	ENCUMBERED IN THE YEAR PRIOR TO THE YEAR IN WHICH THE PUBLIC6
	259	+	REPORT IS PREPARED THAT WAS UNENCUMBERED IN ANY YEAR PRIOR TO7
	260	+	THE REPORTING YEAR;8
	261	+	(V) T
	262	+	HE AMOUNT OF UNENCUMBERED MONEY IN THE FUND AT THE9
	263	+	TIME THE PUBLIC REPORT IS PREPARED;
	264	+	10
	265	+	(VI) T
	266	+	HE AMOUNT OF MONEY TRANSFERRED FROM THE FUND TO11
	267	+	ANY OTHER FUND IN THE YEAR PRIOR TO THE YEAR IN WHICH THE PUBLIC12
	268	+	REPORT IS PREPARED AND AN IDENTIFICATION OF THE FUNDS TO WHICH13
	269	+	MONEY FROM THE FUND WAS
	270	+	TRANSFERRED;14
	271	+	(VII) THE NUMBER OF CONTRACTS DRAFTED AND EXECUTED FOR15
	272	+	LOANS OR GRANTS FROM THE FUND AND THE NUMBER OF DAYS IT TOOK TO16
	273	+	EXECUTE EACH CONTRACT. IF THE AVERAGE NUMBER OF DAYS TO17
	274	+	EXECUTE CONTRACTS INCLUDED IN THE REPORT IS MORE THAN NINETY18
	275	+	DAYS, THE DIVISION SHALL INCLUDE AN EXPLANATION REGARDING THIS19
	276	+	AVERAGE AND A PLAN TO REDUCE THE AVERAGE TO NINETY DAYS OR LESS.20
	277	+	(VIII) THE AVERAGE NUMBER OF DAYS TO PRODUCE PRELIMINARY21
	278	+	VERSIONS OF CONTRACTS AFTER MONEY IN THE FUND IS AWARDED TO22
	279	+	RECIPIENTS. IF THE AVERAGE NUMBER OF DAYS TO PRODUCE PRELIMINARY23
	280	+	VERSIONS OF CONTRACTS INCLUDED IN THE REPORT IS MORE THAN THIRTY24
	281	+	DAYS, THE DIVISION SHALL INCLUDE AN EXPLANATION REGARDING THIS25
	282	+	AVERAGE AND A PLAN TO REDUCE THE AVERAGE TO THIRTY DAYS OR LESS.26
	283	+	(IX) THE AVERAGE NUMBER OF DAYS FOR RECIPIENTS TO RECEIVE27
	284	+	1308
	285	+	-8- SIGNED CONTRACTS AFTER THE CONTRACTS ARE APPROVED AND TERMS1
	286	+	ARE FINALIZED BY THE DIVISION AND THE RECIPIENT. IF THE AVERAGE2
	287	+	NUMBER OF DAYS FOR RECIPIENTS TO RECEIVE SIGNED CONTRACTS AFTER3
	288	+	THE CONTRACTS ARE APPROVED AND TERMS ARE FINALIZED IS MORE THAN4
	289	+	TEN DAYS, THE DIVISION SHALL INCLUDE AN EXPLANATION REGARDING5
	290	+	THIS AVERAGE AND A PLAN TO REDUCE THE AVERAGE TO TEN DAYS OR6
	291	+	LESS.7
	292	+	(b) A
	293	+	S USED IN THIS SUBSECTION (1.5), UNLESS THE CONTEXT8
	294	+	OTHERWISE REQUIRES, "FUND" MEANS THE HOUSING DEVELOPMENT GRANT9
	295	+	FUND CREATED IN SECTION 24-32-721 (1).10
	296	+	SECTION 4. In Colorado Revised Statutes, add 24-32-705.7 as11
	297	+	follows:12
	298	+	24-32-705.7. Application process for all affordable housing13
	299	+	programs administered by the division of housing - rules - definitions.14
	300	+	(1) A
	301	+	S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE15
	302	+	REQUIRES:16
	303	+	(a) "A
	304	+	FFORDABLE HOUSING" HAS THE SAME MEANING AS SET17
	305	+	FORTH IN SECTION 24-32-705.5 (6).18
	306	+	(b) "A
	307	+	FFORDABLE HOUSING PROGRAM " MEANS:19
	308	+	(I) M
	309	+	ONEY LOANED FROM THE HOUSING INVESTMENT TRUST FUND20
	310	+	CREATED IN SECTION 24-32-717 (1)(a);21
	311	+	(II) A
	312	+	NY PROGRAM THAT USES MONEY FROM THE HOUSING22
	313	+	DEVELOPMENT GRANT FUND CREATED IN SECTION 24-32-721 (1);23
183	314		(III) T
184		-	HE AGGREGATE AMOUNT OF MONEY IN THE FUND ENCUMBERED
185		-	BY AN AWARD LETTER AND THE AGGREGATE AMOUNT OF MONEY IN THE
186		-	FUND ENCUMBERED BY AN EXECUTED CONTRACT FOR GRANTS FROM THE
187		-	FUND
188		-	;
	315	+	HE AFFORDABLE HOUSING GUIDED TOOLKIT AND LOCAL24
	316	+	OFFICIALS GUIDE PROGRAM CREATED IN SECTION 24-32-721.7 (1)(a);25
189	317		(IV) T
190		-	HE AGGREGATE AMOUNT OF MONEY IN THE FUND
191		-	ENCUMBERED IN THE YEAR PRIOR TO THE YEAR IN WHICH THE PUBLIC REPORT
192		-	IS PREPARED THAT WAS UNENCUMBERED IN ANY YEAR PRIOR TO THE
193		-	REPORTING YEAR
194		-	;
	318	+	HE LOCAL INVESTMENTS IN TRANSFORMATIONAL26
	319	+	AFFORDABLE HOUSING GRANT PROGRAM CREATED IN SECTION 24-32-72927
	320	+	1308
	321	+	-9- (2)(a);1
195	322		(V) T
196		-	HE AMOUNT OF UNENCUMBERED MONEY IN THE FUND AT THE
197		-	TIME THE PUBLIC REPORT IS PREPARED
198		-	;
199		-	(VI) T
200		-	HE AMOUNT OF MONEY TRANSFERRED FROM THE FUND TO ANY
201		-	OTHER FUND IN THE YEAR PRIOR TO THE YEAR IN WHICH THE PUBLIC REPORT
202		-	IS PREPARED AND AN IDENTIFICATION OF THE FUNDS TO WHICH MONEY FROM
203		-	PAGE 5-HOUSE BILL 24-1308 THE FUND WAS TRANSFERRED ;
204		-	(VII) T
205		-	HE NUMBER OF CONTRACTS DRAFTED AND EXECUTED FOR
206		-	LOANS OR GRANTS FROM THE FUND AND THE NUMBER OF DAYS IT TOOK TO
207		-	EXECUTE EACH CONTRACT
208		-	. IF THE AVERAGE NUMBER OF DAYS TO EXECUTE
209		-	CONTRACTS INCLUDED IN THE REPORT IS MORE THAN NINETY DAYS
210		-	, THE
211		-	DIVISION SHALL INCLUDE AN EXPLANATION REGARDING THIS AVERAGE AND
212		-	A PLAN TO REDUCE THE AVERAGE TO NINETY DAYS OR LESS
213		-	.
214		-	(VIII) T
215		-	HE AVERAGE NUMBER OF DAYS TO PRODUCE PRELIMINARY
216		-	VERSIONS OF CONTRACTS AFTER MONEY IN THE FUND IS AWARDED TO
217		-	RECIPIENTS
218		-	. IF THE AVERAGE NUMBER OF DAYS TO PRODUCE PRELIMINARY
219		-	VERSIONS OF CONTRACTS INCLUDED IN THE REPORT IS MORE THAN THIRTY
220		-	DAYS
221		-	, THE DIVISION SHALL INCLUDE AN EXPLANATION REGARDING THIS
222		-	AVERAGE AND A PLAN TO REDUCE THE AVERAGE TO THIRTY DAYS OR LESS
223		-	.
224		-	(IX) T
225		-	HE AVERAGE NUMBER OF DAYS FOR RECIPIENTS TO RECEIVE
226		-	SIGNED CONTRACTS AFTER THE CONTRACTS ARE APPROVED AND TERMS ARE
227		-	FINALIZED BY THE DIVISION AND THE RECIPIENT
228		-	. IF THE AVERAGE NUMBER
229		-	OF DAYS FOR RECIPIENTS TO RECEIVE SIGNED CONTRACTS AFTER THE
230		-	CONTRACTS ARE APPROVED AND TERMS ARE FINALIZED IS MORE THAN TEN
231		-	DAYS
232		-	, THE DIVISION SHALL INCLUDE AN EXPLANATION REGARDING THIS
233		-	AVERAGE AND A PLAN TO REDUCE THE AVERAGE TO TEN DAYS OR LESS
234		-	.
	323	+	HE TRANSFORMATIONAL AFFORDABLE HOUSING REVOLVING2
	324	+	LOAN FUND PROGRAM CREATED IN SECTION 24-32-731 (2)(a);
	325	+	AND3
	326	+	4
	327	+	(VI) ANY OTHER PROGRAM ADMINISTERED OR IMPLEMENTED BY5
	328	+	THE DIVISION THAT IS RELATED TO AFFORDABLE HOUSING DEVELOPMENT.6
	329	+	(c) "B
	330	+	OARD" MEANS THE STATE HOUSING BOARD CREATED IN7
	331	+	SECTION 24-32-706 (1).8
	332	+	(2) N
	333	+	OTWITHSTANDING ANY PROVISION OF LAW TO THE9
	334	+	CONTRARY, ALL AFFORDABLE HOUSING PROGRAMS ADMINISTERED OR10
	335	+	IMPLEMENTED BY THE DIVISION THAT REQUIRE AN APPLICATION PROCESS11
	336	+	ARE SUBJECT TO THE PROVISIONS OF THIS SECTION.12
	337	+	(3) (a) T
	338	+	HE DIVISION SHALL
	339	+	RECEIVE APPLICATIONS FOR13
	340	+	AFFORDABLE HOUSING PROGRAMS NOT LESS THAN ONCE PER QUARTER14
	341	+	WHERE A QUARTER IS EVERY THREE MONTHS BEGINNING IN JULY. THE15
	342	+	DIVISION SHALL PUBLISH THE APPLICATION SCHEDULE FOR THE SECOND16
	343	+	HALF OF STATE FISCAL YEAR 2024-25 NO LATER THAN NOVEMBER 1, 2024,17
	344	+	AND SHALL PUBLISH THE APPLICATION SCHEDULE FOR EACH SUBSEQUENT18
	345	+	STATE FISCAL YEAR NO LATER THAN MAY 1 OF THE PRECEDING STATE19
	346	+	FISCAL YEAR AND SHALL UPDATE THE SCHEDULE NO LATER THAN SIXTY20
	347	+	DAYS BEFORE THE START OF THE NEXT QUARTER. IF FOR ANY AFFORDABLE21
	348	+	HOUSING PROGRAM THE DIVISION WILL NOT BE ACCEPTING APPLICATIONS22
	349	+	FOR AN UPCOMING QUARTER, THE DIVISION SHALL POST NOTICE OF THIS ON23
	350	+	ITS WEBSITE AND INCLUDE AN EXPLANATION OF WHY APPLICATIONS FOR24
	351	+	THE AFFORDABLE HOUSING PROGRAM WILL NOT BE ACCEPTED, WHICH MAY25
	352	+	INCLUDE THERE BEING INSUFFICIENT REVENUE TO PROVIDE FUNDING FOR26
	353	+	THE AFFORDABLE HOUSING PROGRAM. NOT LATER THAN TEN CALENDAR27
	354	+	1308
	355	+	-10- DAYS FROM THE DATE THAT A QUARTERLY APPLICATION PERIOD CLOSES,1
	356	+	THE DIVISION SHALL COMPLETE THE REVIEWING OF ALL APPLICATIONS2
	357	+	SUBMITTED IN THE APPLICATION PERIOD FOR COMPLETENESS AND ISSUE3
	358	+	ANY REQUESTS FOR ADDITIONAL INFORMATION , FORMS, OR QUESTIONS TO4
	359	+	THE APPLICANTS, AS NECESSARY. 5
	360	+	(b) (I) WITHIN FORTY-FIVE CALENDAR DAYS AFTER A6
	361	+	COMPLETE APPLICATION IS RECEIVED BY THE DIVISION , AND NO MORE7
	362	+	THAN FORTY-FIVE CALENDAR DAYS AFTER THE SEVENTEENTH CALENDAR8
	363	+	DAY FOLLOWING THE DATE AN APPLICATION IS SUBMITTED , THE DIVISION9
	364	+	SHALL COMPLETE ANY ADDITIONAL REVIEW OF AN APPLICATION THAT MAY10
	365	+	BE REQUIRED AFTER ITS INITIAL REVIEW REQUIRED BY SUBSECTION (3)(a)11
	366	+	OF THIS SECTION AND EITHER SEND ALL APPLICATIONS IT DEEMS COMPLETE12
	367	+	TO THE BOARD FOR FINAL DECISION OR MAKE A FINAL DECISION ON13
	368	+	APPLICATIONS IT DEEMS COMPLETE , AS APPLICABLE. IF THE DIVISION IS14
	369	+	UNABLE TO SEND AN APPLICATION TO THE BOARD WITHIN FORTY-FIVE15
	370	+	DAYS, THE DIVISION SHALL NOTIFY THE APPLICANT OF THE DELAY WITH AN16
	371	+	EXPLANATION FOR THE DELAY AND THE DATE THAT THE DIVISION WILL17
	372	+	SEND THE APPLICATION TO THE BOARD .18
	373	+	(II) THE BOARD SHALL MEET AND M AKE A FINAL DECISION ON 19
	374	+	COMPLETED APPLICATIONS SUBMITTED TO IT FROM THE DIVISION AT THE20
	375	+	NEXT REGULARLY SCHEDULED MEETING OF THE BOARD .21
	376	+	22
	377	+	(c) (I) I
	378	+	F THE FINAL DECISION ON AN APPLICATION IS APPROVAL OF23
	379	+	THE APPLICATION BY THE BOARD OR THE DIVISION , AS APPLICABLE, THE24
	380	+	DIVISION SHALL NOTIFY THE APPROVED APPLICANT IN WRITING IN25
	381	+	ACCORDANCE WITH SUBSECTION (3)(c)(II) OF THIS SECTION AND WITHIN26
	382	+	THIRTY CALENDAR DAYS PROVIDE THE APPROVED APPLICANT WITH A27
	383	+	1308
	384	+	-11- PRELIMINARY DRAFT OF ANY REQUIRED CONTRACTS FOR L OANS OR1
	385	+	GRANTS AWARDED PURSUANT TO AN AFFORDABLE HOUSING PROGRAM , IF2
	386	+	APPLICABLE. THE DIVISION HAS NINETY DAYS FROM THE DATE OF3
	387	+	RECEIVING A SUBSTANTIALLY COMPLETE POST-AWARD DUE DILIGENCE4
	388	+	PACKAGE FROM THE APPROVED APPLICANT , OR IF NO POST-AWARD DUE5
	389	+	DILIGENCE IS REQUIRED THEN NINETY DAYS FROM THE DATE OF THE END6
	390	+	OF THE THIRTY-DAY PERIOD, TO FINALIZE ANY TERMS AND CONDITIONS OF7
	391	+	APPROVED LOANS OR GRANTS PURSUANT TO AN AFFORDABLE HOUSING8
	392	+	PROGRAM AND EXECUTE ANY REQUIRED CONTRACTS, BUT THE NINETY DAY9
	393	+	PERIOD PAUSES FOR THE PERIOD OF TIME AN APPROVED APPLICANT10
	394	+	RECEIVES A PRELIMINARY DRAFT FROM THE DIVISION OF ANY REQUIRED11
	395	+	CONTRACT FOR THE AFFORDABLE HOUSING PROGRAM UNTIL THE DIVISION12
	396	+	RECEIVES THE EXECUTED CONTRACT FROM THE APPROVED APPLICANT.13
	397	+	THE DIVISION SHALL PROVIDE EXECUTED CONTRACTS TO AN APPROVED14
	398	+	APPLICANT WITHIN TEN CALENDAR DAYS OF FINALIZING THE CONTRACT .15
	399	+	(II) L
	400	+	ETTERS OF APPROVAL REQUIRED BY SUBSECTION (3)(c)(I) OF16
	401	+	THIS SECTION MUST INCLUDE INFORMATION CONCERNING :17
	402	+	(A) T
	403	+	HE TIMELINE FOR ISSUANCE OF MONEY AS APPROVED BY THE18
	404	+	DIVISION OR THE BOARD PURSUANT TO THE AFFORDABLE HOUSING19
	405	+	PROGRAM;20
235	406		(B) A
236		-	S USED IN THIS SUBSECTION (1.5), UNLESS THE CONTEXT
237		-	OTHERWISE REQUIRES
238		-	, "FUND" MEANS THE HOUSING DEVELOPMENT GRANT
239		-	FUND CREATED IN SECTION
240		-	24-32-721 (1).
241		-	SECTION 4. In Colorado Revised Statutes, add 24-32-705.7 as
242		-	follows:
243		-	24-32-705.7. Application process for all affordable housing
244		-	programs administered by the division of housing - rules - definitions.
245		-	(1) A
246		-	S USED IN THIS SECTION, UNLESS THE CONTEXT OTHERWISE REQUIRES :
247		-	(a) "A
248		-	FFORDABLE HOUSING" HAS THE SAME MEANING AS SET FORTH
249		-	IN SECTION
250		-	24-32-705.5 (6).
251		-	(b) "A
252		-	FFORDABLE HOUSING PROGRAM " MEANS:
253		-	PAGE 6-HOUSE BILL 24-1308 (I) MONEY LOANED FROM THE HOUSING INVESTMENT TRUST FUND
254		-	CREATED IN SECTION
255		-	24-32-717 (1)(a);
256		-	(II) A
257		-	NY PROGRAM THAT USES MONEY FROM THE HOUSING
258		-	DEVELOPMENT GRANT FUND CREATED IN SECTION
259		-	24-32-721 (1);
260		-	(III) T
261		-	HE AFFORDABLE HOUSING GUIDED TOOLKIT AND LOCAL
262		-	OFFICIALS GUIDE PROGRAM CREATED IN SECTION
263		-	24-32-721.7 (1)(a);
264		-	(IV) T
265		-	HE LOCAL INVESTMENTS IN TRANSFORMATIONAL AFFORDABLE
266		-	HOUSING GRANT PROGRAM CREATED IN SECTION
267		-	24-32-729 (2)(a);
268		-	(V) T
269		-	HE TRANSFORMATIONAL AFFORDABLE HOUSING REVOLVING
270		-	LOAN FUND PROGRAM CREATED IN SECTION
271		-	24-32-731 (2)(a); AND
272		-	(VI) ANY OTHER PROGRAM ADMINISTERED OR IMPLEMENTED BY THE
273		-	DIVISION THAT IS RELATED TO AFFORDABLE HOUSING DEVELOPMENT
274		-	.
275		-	(c) "B
276		-	OARD" MEANS THE STATE HOUSING BOARD CREATED IN
	407	+	NY TERMS FOR THE LOAN OR GRANT PERIOD ; AND21
	408	+	(C) A
	409	+	NY CONDITIONS THAT THE APPROVED APPLICANT MUST MEET22
	410	+	OR PROVIDE PRIOR TO THE EXECUTION OF CONTRACTS FOR THE LOAN OR23
	411	+	GRANT PURSUANT TO THE AFFORDABLE HOUSING PROGRAM , INCLUDING24
	412	+	CLOSING OR CURING ANY OUTST ANDING AWARDS UNDER OTHER25
	413	+	AFFORDABLE HOUSING PROGRAMS .26
	414	+	(d)
	415	+	(I) ANY CHANGES TO THE TERMS OF AN APPROVED LOAN OR27
	416	+	1308
	417	+	-12- GRANT PURSUANT TO AN AFFORDABLE HOUSING PROGRAM BY THE1
	418	+	DIVISION MUST BE MADE TO AN APPROVED APPLICANT WITHIN TEN2
	419	+	CALENDAR DAYS OF THE DATE THE DIVISION ISSUES A LETTER OF3
	420	+	APPROVAL REQUIRED PURSUANT TO SUBSECTION (3)(c)(I) OF THIS4
	421	+	SECTION.5
	422	+	(II) NOTWITHSTANDING THE PROVISIONS OF SUBSECTION (3)(d)(I)6
	423	+	OF THIS SECTION, AN APPROVED APPLICANT MAY REQUEST CHANGES TO7
	424	+	THE TERMS OF AN APPROVED LOAN OR GRANT AT ANY TIME BEFORE THE8
	425	+	CONTRACT IS FINALIZED AND THE DIVISION SHALL REVIEW AND RESPOND9
	426	+	TO ANY REQUESTS FOR CHANGES MADE AFTER APPROVAL OF THE LOAN OR10
	427	+	GRANT BUT BEFORE THE CONTRACT IS FINALIZED WITHIN THIRTY DAYS. A11
	428	+	REQUEST FOR CHANGES BY AN APPROVED APPLICANT MAY EXTEND ANY12
	429	+	APPLICABLE TIME PERIOD SET FORTH IN SUBSECTION (3)(c)(I) BY NOT13
	430	+	MORE THAN THIRTY DAYS.14
	431	+	(4) T
	432	+	HE DIVISION MAY PROMULGATE RULES FOR THE15
	433	+	IMPLEMENTATION OF THIS SECTION IN ACCORDANCE WITH ARTICLE 4 OF16
	434	+	THIS TITLE 24.17 18
	435	+	SECTION 5. In Colorado Revised Statutes, 24-32-717, add (3.7)19
	436	+	as follows:20
	437	+	24-32-717. Housing investment trust fund - loans - definitions.21
	438	+	(3.7) I
	439	+	F APPLICATIONS ARE REQUIRED FOR LOANS PURSUANT TO THIS22
	440	+	SECTION, THE APPLICATION PROCESS MUST BE IN ACCORDANCE WITH THE23
	441	+	PROCESS SET FORTH IN SECTION 24-32-705.7.24
277	442		SECTION
278		-	24-32-706 (1).
279		-	(2) N
280		-	OTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY ,
281		-	ALL AFFORDABLE HOUSING PROGRAMS ADMINISTERED OR IMPLEMENTED BY
282		-	THE DIVISION THAT REQUIRE AN APPLICATION PROCESS ARE SUBJECT TO THE
283		-	PROVISIONS OF THIS SECTION
284		-	.
285		-	(3) (a) T
286		-	HE DIVISION SHALL RECEIVE APPLICATIONS FOR AFFORDABLE
287		-	HOUSING PROGRAMS NOT LESS THAN ONCE PER QUARTER WHERE A QUARTER
288		-	IS EVERY THREE MONTHS BEGINNING IN
289		-	JULY. THE DIVISION SHALL PUBLISH
290		-	THE APPLICATION SCHEDULE FOR THE SECOND HALF OF STATE FISCAL YEAR
291		-	2024-25 NO LATER THAN NOVEMBER 1, 2024, AND SHALL PUBLISH THE
292		-	APPLICATION SCHEDULE FOR EACH SUBSEQUENT STATE FISCAL YEAR NO
293		-	LATER THAN
294		-	MAY 1 OF THE PRECEDING STATE FISCAL YEAR AND SHALL
295		-	UPDATE THE SCHEDULE NO LATER THAN SIXTY DAYS BEFORE THE START OF
296		-	THE NEXT QUARTER
297		-	. IF FOR ANY AFFORDABLE HOUSING PROGRAM THE
298		-	DIVISION WILL NOT BE ACCEPTING APPLICATIONS FOR AN UPCOMING
299		-	QUARTER
300		-	, THE DIVISION SHALL POST NOTICE OF THIS ON ITS WEBSITE AND
301		-	INCLUDE AN EXPLANATION OF WHY APPLICATIONS FOR THE AFFORDABLE
302		-	HOUSING PROGRAM WILL NOT BE ACCEPTED
303		-	, WHICH MAY INCLUDE THERE
304		-	BEING INSUFFICIENT REVENUE TO PROVIDE FUNDING FOR THE AFFORDABLE
305		-	PAGE 7-HOUSE BILL 24-1308 HOUSING PROGRAM. NOT LATER THAN TEN CALENDAR DAYS FROM THE DATE
306		-	THAT A QUARTERLY APPLICATION PERIOD CLOSES
307		-	, THE DIVISION SHALL
308		-	COMPLETE THE REVIEWING OF ALL APPLICATIONS SUBMITTED IN THE
309		-	APPLICATION PERIOD FOR COMPL ETENESS AND ISSUE ANY REQUESTS FOR
310		-	ADDITIONAL INFORMATION
311		-	, FORMS, OR QUESTIONS TO THE APPLICANTS, AS
312		-	NECESSARY
313		-	.
314		-	(b) (I) W
315		-	ITHIN FORTY-FIVE CALENDAR DAYS AFTER A COMPLETE
316		-	APPLICATION IS RECEIVED BY THE DIVISION
317		-	, AND NO MORE THAN FORTY -FIVE
318		-	CALENDAR DAYS AFTER THE SEVENTEENTH CALENDAR DAY FOLLOWING THE
319		-	DATE AN APPLICATION IS SUBMITTED
320		-	, THE DIVISION SHALL COMPLETE ANY
321		-	ADDITIONAL REVIEW OF AN APPLICATION THAT MAY BE REQUIRED AFTER ITS
322		-	INITIAL REVIEW REQUIRED BY SUBSECTION
323		-	(3)(a) OF THIS SECTION AND
324		-	EITHER SEND ALL APPLICATIONS IT DEEMS COMPLETE TO THE BOARD FOR
325		-	FINAL DECISION OR MAKE A FINAL DECISION ON APPLICATIONS IT DEEMS
326		-	COMPLETE
327		-	, AS APPLICABLE. IF THE DIVISION IS UNABLE TO SEND AN
328		-	APPLICATION TO THE BOARD WITHIN FORTY
329		-	-FIVE DAYS, THE DIVISION SHALL
330		-	NOTIFY THE APPLICANT OF THE DELAY WITH AN EXPLANATION FOR THE
331		-	DELAY AND THE DATE THAT THE DIVISION WILL SEND THE APPLICATION TO
332		-	THE BOARD
333		-	.
334		-	(II) T
335		-	HE BOARD SHALL MEET AND MAKE A FINAL DECISION ON
336		-	COMPLETED APPLICATIONS SUBMI TTED TO IT FROM THE DIVISION AT THE
337		-	NEXT REGULARLY SCHEDULED MEETING OF THE BOARD
338		-	.
339		-	(c) (I) I
340		-	F THE FINAL DECISION ON AN APPLICATION IS APPROVAL OF
341		-	THE APPLICATION BY THE BOARD OR THE DIVISION
342		-	, AS APPLICABLE, THE
343		-	DIVISION SHALL NOTIFY THE APPROVED APPLICANT IN WRITING IN
344		-	ACCORDANCE WITH SUBSECTION
345		-	(3)(c)(II) OF THIS SECTION AND WITHIN
346		-	THIRTY CALENDAR DAYS PROVIDE THE APPROVED APPLICANT WITH A
347		-	PRELIMINARY DRAFT OF ANY REQUIRED CONTRACTS FOR LOANS OR GRANTS
348		-	AWARDED PURSUANT TO AN AFFORDABLE HOUSING PROGRAM
349		-	, IF
350		-	APPLICABLE
351		-	. THE DIVISION HAS NINETY DAYS FROM THE DATE OF RECEIVING
352		-	A SUBSTANTIALLY COMPLETE POST
353		-	-AWARD DUE DILIGENCE PACKAGE FROM
354		-	THE APPROVED APPLICANT
355		-	, OR IF NO POST-AWARD DUE DILIGENCE IS
356		-	REQUIRED THEN NINETY DAYS FROM THE DATE OF THE END OF THE
357		-	THIRTY
358		-	-DAY PERIOD, TO FINALIZE ANY TERMS AND CONDITIONS OF
359		-	APPROVED LOANS OR GRANTS PURSUANT TO AN AFFORDABLE HOUSING
360		-	PROGRAM AND EXECUTE ANY REQUIRED CONTRACTS
361		-	, BUT THE NINETY DAY
362		-	PERIOD PAUSES FOR THE PERIOD OF TIME AN APPROVED APPLICANT RECEIVES
363		-	PAGE 8-HOUSE BILL 24-1308 A PRELIMINARY DRAFT FROM THE DIVISION OF ANY REQUIRED CONTRACT FOR
364		-	THE AFFORDABLE HOUSING PROGRAM UNTIL THE DIVISION RECEIVES THE
365		-	EXECUTED CONTRACT FROM THE APPROVED APPLICANT
366		-	. THE DIVISION SHALL
367		-	PROVIDE EXECUTED CONTRACTS TO AN APPROVED APPLICANT WITHIN TEN
368		-	CALENDAR DAYS OF FINALIZING THE CONTRACT
369		-	.
370		-	(II) L
371		-	ETTERS OF APPROVAL REQUIRED BY SUBSECTION (3)(c)(I) OF
372		-	THIS SECTION MUST INCLUDE INFORMATION CONCERNING
373		-	:
374		-	(A) T
375		-	HE TIMELINE FOR ISSUANCE OF MONEY AS APPROVED BY THE
376		-	DIVISION OR THE BOARD PURSUANT TO THE AFFORDABLE HOUSING PROGRAM
377		-	;
378		-	(B) A
379		-	NY TERMS FOR THE LOAN OR GRANT PERIOD ; AND
380		-	(C) ANY CONDITIONS THAT THE APPROVED APPLICANT MUST MEET
381		-	OR PROVIDE PRIOR TO THE EXECUTION OF CONTRACTS FOR THE LOAN OR
382		-	GRANT PURSUANT TO THE AFFORDABLE HOUSING PROGRAM
383		-	, INCLUDING
384		-	CLOSING OR CURING ANY OUTSTANDING AWARDS UNDER OTHER
385		-	AFFORDABLE HOUSING PROGRAMS
386		-	.
387		-	(d) (I) A
388		-	NY CHANGES TO THE TERMS OF AN APPROVED LOAN OR
389		-	GRANT PURSUANT TO AN AFFORDABLE HOUSING PROGRAM BY THE DIVISION
390		-	MUST BE MADE TO AN APPROVED APPLICANT WITHIN TEN CALENDAR DAYS
391		-	OF THE DATE THE DIVISION ISSUES A LETTER OF APPROVAL REQUIRED
392		-	PURSUANT TO SUBSECTION
393		-	(3)(c)(I) OF THIS SECTION.
394		-	(II) N
395		-	OTWITHSTANDING THE PROVISIONS OF SUBSECTION (3)(d)(I) OF
396		-	THIS SECTION
397		-	, AN APPROVED APPLICANT MAY REQUEST CHANGES TO THE
398		-	TERMS OF AN APPROVED LOAN OR GRANT AT ANY TIME BEFORE THE
399		-	CONTRACT IS FINALIZED AND THE DIVISION SHALL REVIEW AND RESPOND TO
400		-	ANY REQUESTS FOR C HANGES MADE AFTER APPR OVAL OF THE LOAN OR
401		-	GRANT BUT BEFORE THE CONTRACT IS FINALIZED WITHIN THIRTY DAYS
402		-	. A
403		-	REQUEST FOR CHANGES BY AN APPROVED APPLICANT MAY EXTEND ANY
404		-	APPLICABLE TIME PERIOD SET FORTH IN SUBSECTION
405		-	(3)(c)(I) BY NOT MORE
406		-	THAN THIRTY DAYS
407		-	.
408		-	(4) T
409		-	HE DIVISION MAY PROMULGATE RULES FOR THE
410		-	IMPLEMENTATION OF THIS SECTION IN ACCORDANCE WITH ARTICLE
411		-	4 OF THIS
412		-	TITLE
413		-	24.
414		-	PAGE 9-HOUSE BILL 24-1308 SECTION 5. In Colorado Revised Statutes, 24-32-717, add (3.7)
415		-	as follows:
416		-	24-32-717. Housing investment trust fund - loans - definitions.
417		-	(3.7) I
418		-	F APPLICATIONS ARE REQUIRED FOR LOANS PURSUANT TO THIS
	443	+	6. In Colorado Revised Statutes, 24-32-721, amend25
	444	+	(2)(e); and add (8) as follows:26
	445	+	24-32-721. Colorado affordable housing construction grants27
	446	+	1308
	447	+	-13- and loans - housing development grant fund - creation - housing1
	448	+	assistance for persons with behavioral, mental health, or substance2
	449	+	use disorders - cash fund - appropriation - report to general assembly3
	450	+	- rules - definitions - repeal. (2) (e) In determining how best to allocate4
	451	+	money to promote the various purposes specified in subsection (2)(d) of5
	452	+	this section, the division shall consult with stakeholders from urban and6
	453	+	rural communities and representatives from populations of different7
	454	+	income levels with diverse housing needs and shall award funding to8
	455	+	meet the needs of local communities that will optimize the return on9
	456	+	money invested in a particular program or for a particular use10
	457	+	SOCIO-ECONOMIC AND HOUSING STABILITY OF OUTCOMES OF HOUSEHOLDS11
	458	+	SERVED; OPTIMIZE THE CREATION, OPERATION, AND AFFORDABILITY12
	459	+	LENGTH OF AFFORDABLE HOUSING STOCK CREATED; OPTIMIZE THE13
	460	+	PRESERVATION OF NATURALLY OCCURRING AND SUBSIDIZED AFFORDABLE14
	461	+	HOUSING; CONSIDER THE IMPACT OF AWARD TERMS ON THE FINANCIAL15
	462	+	STABILITY OF THE ORGANIZATIONS DELIVERING THESE DEVELOPMENT16
	463	+	PROJECTS AND RESIDENT SERVICES; leverage OR BE LEVERAGED BY other17
	464	+	available PUBLIC OR PRIVATE sources of money; BE LAYERED WITH OTHER18
	465	+	FUNDS ADMINISTERED BY THE STATE ; address housing needs throughout19
	466	+	the state; and serve populations with the greatest unmet need. THE20
	467	+	DIVISION MAY EVALUATE AND AWARD FUNDING OPPORTUNITIES AT ALL21
	468	+	STAGES OF A PROJECT, INCLUDING PREDEVELOPMENT AND FIRST-IN22
	469	+	CATALYTIC FUND COMMITMENTS .23
	470	+	24
	471	+	(8) I
	472	+	F APPLICATIONS ARE REQUIRED FOR MONEY FROM THE FUND25
	473	+	PURSUANT TO THIS SECTION , THE APPLICATION PROCESS MUST BE IN26
	474	+	ACCORDANCE WITH THE PROCESS SET FORTH IN SECTION 24-32-705.7.27
	475	+	1308
	476	+	-14- SECTION 7. In Colorado Revised Statutes, 24-32-721.7, add1
	477	+	(1)(c) as follows:2
	478	+	24-32-721.7. Affordable housing guided toolkit and local3
	479	+	officials guide program - creation. (1) (c) T
	480	+	HE PROCESS FOR4
	481	+	APPLICATIONS REQUIRED PURSUANT TO THIS SECTION MUST BE IN5
	482	+	ACCORDANCE WITH THE PROCESS SET FORTH IN SECTION 24-32-705.7.6
419	483		SECTION
420		-	, THE APPLICATION PROCESS MUST BE IN ACCORDANCE WITH THE
421		-	PROCESS SET FORTH IN SECTION
422		-	24-32-705.7.
423		-	SECTION 6. In Colorado Revised Statutes, 24-32-721, amend
424		-	(2)(e); and add (8) as follows:
425		-	24-32-721. Colorado affordable housing construction grants and
426		-	loans - housing development grant fund - creation - housing assistance
427		-	for persons with behavioral, mental health, or substance use disorders
428		-	- cash fund - appropriation - report to general assembly - rules -
429		-	definitions - repeal. (2) (e) In determining how best to allocate money to
430		-	promote the various purposes specified in subsection (2)(d) of this section,
431		-	the division shall consult with stakeholders from urban and rural
432		-	communities and representatives from populations of different income
433		-	levels with diverse housing needs and shall award funding to meet the needs
434		-	of local communities that will optimize the return on money invested in a
435		-	particular program or for a particular use SOCIO-ECONOMIC AND HOUSING
436		-	STABILITY OF OUTCOMES OF HOUSEHOLDS SERVED
437		-	; OPTIMIZE THE CREATION,
438		-	OPERATION, AND AFFORDABILITY LENGTH OF AFFORDABLE HOUSING STOCK
439		-	CREATED
440		-	; OPTIMIZE THE PRESERVATION OF NATURALLY OCCURRING AND
441		-	SUBSIDIZED AFFORDABLE HOUSING
442		-	; CONSIDER THE IMPACT OF AWARD TERMS
443		-	ON THE FINANCIAL STABILITY OF THE ORGANIZATIONS DELIVERING THESE
444		-	DEVELOPMENT PROJECTS AND RESIDENT SERVICES
445		-	; leverage OR BE
446		-	LEVERAGED BY
447		-	other available PUBLIC OR PRIVATE sources of money; BE
448		-	LAYERED WITH OTHER FUNDS ADMINISTERED BY THE STATE
449		-	; address housing
450		-	needs throughout the state; and serve populations with the greatest unmet
451		-	need. T
452		-	HE DIVISION MAY EVALUATE AND AWARD FUNDING OPPORTUNITIES
453		-	AT ALL STAGES OF A PROJECT
454		-	, INCLUDING PREDEVELOPMENT AND FIRST -IN
455		-	CATALYTIC FUND COMMITMENTS
456		-	.
457		-	(8) I
458		-	F APPLICATIONS ARE REQUIRED FOR MONEY FROM THE FUND
459		-	PURSUANT TO THIS SECTION
460		-	, THE APPLICATION PROCESS MUST BE IN
461		-	ACCORDANCE WITH THE PROCESS SET FORTH IN SECTION
462		-	24-32-705.7.
463		-	SECTION 7. In Colorado Revised Statutes, 24-32-721.7, add (1)(c)
464		-	PAGE 10-HOUSE BILL 24-1308 as follows:
465		-	24-32-721.7. Affordable housing guided toolkit and local officials
466		-	guide program - creation. (1) (c) T
467		-	HE PROCESS FOR APPLICATIONS
468		-	REQUIRED PURSUANT TO THIS SECTION MUST BE IN ACCORDANCE WITH THE
469		-	PROCESS SET FORTH IN SECTION
470		-	24-32-705.7.
471		-	SECTION 8. In Colorado Revised Statutes, 24-32-729, add (3)(a.5)
472		-	as follows:
473		-	24-32-729. Transformational affordable housing through local
474		-	investments - grant program - investments eligible for funding - report
475		-	- definitions - repeal. (3) Policies, procedures, and guidelines. (a.5) T
476		-	HE
477		-	APPLICATION PROCESS FOR THE GRANT PROGRAM MUST BE IN ACCORDANCE
478		-	WITH THE PROCESS SET FORTH IN SECTION
479		-	24-32-705.7. ON OR BEFORE
480		-	SEPTEMBER 1, 2024, THE DIVISION SHALL AMEND ANY POLICIES ,
481		-	PROCEDURES, AND GUIDELINES FOR THE GRANT PROGRAM THAT ARE NOT
482		-	CONSISTENT WITH THE APPLICATION PROCESS SET FORTH IN SECTION
483		-	24-32-705.7.
484		-	SECTION 9. In Colorado Revised Statutes, 24-32-731, add (5)(a.5)
485		-	as follows:
486		-	24-32-731. Revolving loan fund - eligible projects - report -
487		-	definitions - legislative declaration. (5) Loan program policies -
	484	+	8. In Colorado Revised Statutes, 24-32-729, add7
	485	+	(3)(a.5) as follows:8
	486	+	24-32-729. Transformational affordable housing through local9
	487	+	investments - grant program - investments eligible for funding -10
	488	+	report - definitions - repeal. (3) Policies, procedures, and guidelines.11
	489	+	(a.5) T
	490	+	HE APPLICATION PROCESS FOR THE GRANT PROGRAM MUST BE IN12
	491	+	ACCORDANCE WITH THE PROCESS SET FORTH IN SECTION 24-32-705.7. ON13
	492	+	OR BEFORE SEPTEMBER 1, 2024, THE DIVISION SHALL AMEND ANY14
	493	+	POLICIES, PROCEDURES, AND GUIDELINES FOR THE GRANT PROGRAM THAT15
	494	+	ARE NOT CONSISTENT WITH THE APPLICATION PROCESS SET FORTH IN16
	495	+	SECTION 24-32-705.7.17
	496	+	SECTION
	497	+	9. In Colorado Revised Statutes, 24-32-731, add18
	498	+	(5)(a.5) as follows:19
	499	+	24-32-731. Revolving loan fund - eligible projects - report -20
	500	+	definitions - legislative declaration. (5) Loan program policies -21
488	501		eligibility for loan funding. (a.5) T
489		-	HE APPLICATION PROCESS FOR THE
490		-	LOAN PROGRAM MUST BE IN ACCORDANCE WITH THE PROCESS SET FORTH IN
491		-	SECTION
492		-	24-32-705.7. ON OR BEFORE SEPTEMBER 1, 2024, THE DIVISION
493		-	SHALL AMEND ANY POLICIES
494		-	, PROCEDURES, AND GUIDELINES FOR THE GRANT
495		-	PROGRAM THAT ARE NOT CONSISTENT WI TH THE APPLICATION PROCESS SET
496		-	FORTH IN SECTION
497		-	24-32-705.7.
498		-	SECTION 10. In Colorado Revised Statutes, 29-4-103, amend (9)
499		-	as follows:
500		-	29-4-103. Definitions. As used in this part 1, unless the context
501		-	otherwise requires:
502		-	(9) "Housing project" means all real and personal property,
503		-	buildings and improvements, stores, offices, lands for farming and
504		-	PAGE 11-HOUSE BILL 24-1308 gardening, and community facilities acquired, constructed, or to be acquired
505		-	or constructed pursuant to a single plan or undertaking to demolish, clear,
506		-	remove, alter, or repair unsafe, unsanitary, or substandard housing or to
507		-	provide dwelling accommodations at rentals within the means of persons of
508		-	low income. The term "housing project" also means the planning of the
509		-	buildings and improvements, the acquisition of property, the demolition of
510		-	existing structures, the construction, reconstruction, alteration, and repair
511		-	of the improvements, and all other work in connection therewith. T
512		-	HE TERM
513		-	"HOUSING PROJECT" ALSO MEANS THE PROVISION OF DWELLING
514		-	ACCOMMODATIONS TO PERSONS
515		-	, WITHOUT REGARD TO INCOME, AS LONG AS
516		-	THE HOUSING PROJECT SUBSTANTIALLY BENEFITS PERSONS OF LOW INCOME
517		-	.
518		-	SECTION 11. In Colorado Revised Statutes, 29-4-104, amend
519		-	(1)(a) and (1)(k); and add (1)(l) as follows:
520		-	29-4-104. Powers of cities to undertake projects. (1) Every city
521		-	has power and is authorized:
522		-	(a) To construct,
523		-	ACQUIRE, OWN, OR LEASE any housing project
524		-	within the city;
525		-	(k) To do all acts and things necessary or convenient to carry out the
526		-	powers expressly given in this part 1;
527		-	AND
528		-	(l) TO MANAGE, OPERATE, AND MAINTAIN, OR CONTRACT FOR THE
529		-	MANAGEMENT
530		-	, OPERATION, AND MAINTENANCE, OF ANY HOUSING PROJECT
531		-	OWNED OR LEASED BY THE CITY
532		-	.
533		-	SECTION 12. In Colorado Revised Statutes, amend 29-4-107 as
534		-	follows:
535		-	29-4-107. Management of housing projects. (1) The city, shall
536		-	AT
537		-	THE CITY
538		-	'S SOLE AND ABSOLUTE DISCRETION, MAY:
539		-	(a) C
540		-	ONTRACT WITH A NONPROFIT ENTITY OR PRIVATE ENTITY TO
541		-	MANAGE
542		-	, MAINTAIN, AND OPERATE ANY HOUSING PROJECT CONSTRUCTED ,
543		-	ACQUIRED, OWNED, OR LEASED BY THE CITY; OR
544		-	(b) Deliver possession of any housing projects constructed,
545		-	acquired,
546		-	OWNED, or leased by it
547		-	THE CITY to the authority within the
548		-	PAGE 12-HOUSE BILL 24-1308 boundaries of which the city is included, but the title to all property
549		-	comprising such housing projects shall remain in the city. The authority
550		-	shall operate and maintain all such
551		-	housing projects of the city THAT THE
552		-	CITY HAS DELIVERED POSSESSION OF IN ACCORDANCE WITH THIS SUBSECTION
553		-	(1)(b) and shall fix, levy, and collect such rents, fees, or other charges for
554		-	the use and occupancy of such housing projects as such authority
555		-	determines; but if there are any agreements of the city with an obligee, the
556		-	authority shall fix, levy, collect, and revise such rents, fees, and other
557		-	charges in accordance with such agreements and subject thereto. All rents,
558		-	fees, and other charges received by the authority from any such housing
559		-	project shall not be commingled with any moneys
560		-	MONEY of the authority
561		-	and shall be deposited in a special account in any depository authorized in
562		-	section 24-75-603. C.R.S.
563		-	(2) After the payment of the cost of operation and maintenance of
564		-	such A housing project THAT THE CITY DELIVERS POSSESSION OF TO THE
565		-	AUTHORITY PURSUANT TO SUBSECTION
566		-	(1)(b) OF THIS SECTION, the net
567		-	receipts of such project shall be paid by the authority to the city at monthly
568		-	or longer intervals as the city may determine or at such intervals as shall be
569		-	provided for in any agreement by the city with an obligee.
570		-	SECTION 13. In Colorado Revised Statutes, 29-4-209, amend
571		-	(1)(f) as follows:
572		-	29-4-209. Powers of authority. (1) An authority shall constitute a
573		-	body both corporate and politic, exercising public powers and having all the
574		-	powers necessary or convenient to carry out and effectuate the purposes and
575		-	provisions of this part 2, including the following powers in addition to
576		-	others granted in this section:
577		-	(f) To manage as agent of the city any project constructed or owned
578		-	by the city
579		-	THAT THE CITY DELIVERS POSSESSION OF TO THE AUTHORITY
580		-	PURSUANT TO SECTION
581		-	29-4-107 (1)(b);
582		-	SECTION 14. In Colorado Revised Statutes, 39-3-127.7, amend
583		-	(7) as follows:
584		-	39-3-127.7. Community land trust property - nonprofit
585		-	affordable homeownership developer property - exemption -
586		-	requirements - legislative declaration - definitions. (7) (a) Any
587		-	PAGE 13-HOUSE BILL 24-1308 community land trust or nonprofit affordable homeownership developer that
588		-	claims a property tax exemption pursuant to this section shall comply with
589		-	the provisions of section 39-2-117;
590		-	EXCEPT THAT IF THE REAL PROPERTY
591		-	THAT IS ALLOWED AN EXEMPTION PURSUANT TO THIS SECTION HAS BEEN
592		-	SUBDIVIDED
593		-	, THE OWNER OF SUCH PROPERTY OR THE OWNER 'S AGENT IS
594		-	ONLY REQUIRED TO
595		-	:
596		-	(I) S
597		-	UBMIT ONE APPLICATION FOR THE EXEMPTION FOR ALL PARCELS
598		-	IN CONNECTION WITH THE SUBDIVISION PURSUANT TO SECTION
599		-	39-2-117
600		-	(1)(a),
601		-	BUT THE FILING MUST BE ACCOMPANIED BY A PAYMENT IN
602		-	ACCORDANCE WITH SECTION
603		-	39-2-117 (1)(a)(I) IN AN AMOUNT NOT TO
604		-	EXCEED THE AGGREGATE AMOUNT OF PAYMENTS THAT WOULD BE REQUIRED
605		-	IF INDIVIDUAL APPLICATIONS WERE FILED FOR EACH PARCEL
606		-	; AND
607		-	(II) IF THE EXEMPTION IS GRANTED , FILE ONE ANNUAL REPORT
608		-	PURSUANT TO SECTION
609		-	39-2-117 (3)(a) FOR ALL PARCELS IN CONNECTION
610		-	WITH THE SUBDIVISION
611		-	, BUT THE FILING MUST BE ACCOMPANIED BY A
612		-	PAYMENT IN ACCORDANCE WITH SECTION
613		-	39-2-117 (3)(a) IN AN AMOUNT
614		-	NOT TO EXCEED THE AGGREGATE AMOUNT OF PAYMENTS THAT WOULD BE
615		-	REQUIRED IF INDIVIDUAL REPORTS WERE FILED FOR EACH PARCEL
616		-	.
617		-	(b) N
618		-	OTWITHSTANDING SUBSECTION (7)(a)(II) OF THIS SECTION, IF
619		-	THE REAL PROPERTY THAT IS ALLOWED AN EXEMPTION PURSUANT TO THIS
620		-	SECTION HAS BEEN SUBDIVIDED BUT THE SUBDIVIDED PARCEL HAS BEEN
621		-	SPLIT INTO A SEPARATE TAXABLE PARCEL FROM THE IMPROVEMENTS AND IS
622		-	LEASED TO THE OWNER OF THE IMPROVEMENTS AS AN AFFORDABLE
623		-	HOMEOWNERSHIP PROPERTY
624		-	, THEN THE OWNER OF SUCH REAL PROPERTY OR
625		-	THE OWNER
626		-	'S AGENT MUST FILE AN INDIVIDUAL ANNUAL REPORT FOR THE
627		-	SUBDIVIDED PARCEL IN ACCORDANCE WITH SECTION
628		-	39-2-117 (3)(a).
629		-	SECTION 15. No appropriation. The general assembly has
630		-	determined that this act can be implemented within existing appropriations,
631		-	and therefore no separate appropriation of state money is necessary to carry
632		-	out the purposes of this act.
633		-	SECTION 16. Act subject to petition - effective date -
634		-	applicability. (1) This act takes effect at 12:01 a.m. on the day following
635		-	the expiration of the ninety-day period after final adjournment of the
636		-	general assembly; except that, if a referendum petition is filed pursuant to
637		-	section 1 (3) of article V of the state constitution against this act or an item,
638		-	PAGE 14-HOUSE BILL 24-1308 section, or part of this act within such period, then the act, item, section, or
639		-	part will not take effect unless approved by the people at the general
640		-	election to be held in November 2024 and, in such case, will take effect on
641		-	the date of the official declaration of the vote thereon by the governor.
642		-	(2) (a) Sections 4 through 9 of this act apply to applications
643		-	submitted for affordable housing programs administered by the division of
644		-	housing on or after September 1, 2024, or, if a referendum petition is filed
645		-	in accordance with subsection (1) of this section, on or after the date of the
646		-	official declaration of the vote thereon by the governor.
647		-	(b) Sections 10 through 13 of this act apply to any housing project
648		-	pursuant to part 1 of article 4 of title 29, C.R.S., on or after the applicable
649		-	effective date of this act.
650		-	(c) Section 14 of this act applies to applications submitted and
651		-	PAGE 15-HOUSE BILL 24-1308 annual reports filed pursuant to section 39-2-117, C.R.S., for the exemption
652		-	allowed by section 39-3-127.7, C.R.S., on or after the applicable effective
653		-	date of this act.
654		-	____________________________ ____________________________
655		-	Julie McCluskie Steve Fenberg
656		-	SPEAKER OF THE HOUSE PRESIDENT OF
657		-	OF REPRESENTATIVES THE SENATE
658		-	____________________________ ____________________________
659		-	Robin Jones Cindi L. Markwell
660		-	CHIEF CLERK OF THE HOUSE SECRETARY OF
661		-	OF REPRESENTATIVES THE SENATE
662		-	APPROVED________________________________________
663		-	(Date and Time)
664		-	_________________________________________
665		-	Jared S. Polis
666		-	GOVERNOR OF THE STATE OF COLORADO
667		-	PAGE 16-HOUSE BILL 24-1308
	502	+	HE APPLICATION PROCESS FOR THE22
	503	+	LOAN PROGRAM MUST BE IN ACCORDANCE WITH THE PROCESS SET FORTH23
	504	+	IN SECTION 24-32-705.7. ON OR BEFORE SEPTEMBER 1, 2024, THE DIVISION24
	505	+	SHALL AMEND ANY POLICIES , PROCEDURES, AND GUIDELINES FOR THE25
	506	+	GRANT PROGRAM THAT ARE NOT CONSISTENT WITH THE APPLICATION26
	507	+	PROCESS SET FORTH IN SECTION 24-32-705.7.27
	508	+	1308
	509	+	-15- SECTION 10. In Colorado Revised Statutes, 29-4-103, amend1
	510	+	(9) as follows:2
	511	+	29-4-103. Definitions. As used in this part 1, unless the context3
	512	+	otherwise requires:4
	513	+	(9) "Housing project" means all real and personal property,5
	514	+	buildings and improvements, stores, offices, lands for farming and6
	515	+	gardening, and community facilities acquired, constructed, or to be7
	516	+	acquired or constructed pursuant to a single plan or undertaking to8
	517	+	demolish, clear, remove, alter, or repair unsafe, unsanitary, or substandard9
	518	+	housing or to provide dwelling accommodations at rentals within the10
	519	+	means of persons of low income. The term "housing project" also means11
	520	+	the planning of the buildings and improvements, the acquisition of12
	521	+	property, the demolition of existing structures, the construction,13
	522	+	reconstruction, alteration, and repair of the improvements, and all other14
	523	+	work in connection therewith. THE TERM "HOUSING PROJECT" ALSO15
	524	+	MEANS THE PROVISION OF DWELLING ACCOMMODATIONS TO PERSONS ,16
	525	+	WITHOUT REGARD TO INCOME , AS LONG AS THE HOUSING PROJECT17
	526	+	SUBSTANTIALLY BENEFITS PERSONS OF LOW INCOME .18
	527	+	SECTION 11. In Colorado Revised Statutes, 29-4-104, amend19
	528	+	(1)(a) and (1)(k); and add (1)(l) as follows:20
	529	+	29-4-104. Powers of cities to undertake projects. (1) Every city21
	530	+	has power and is authorized:22
	531	+	(a) To construct, ACQUIRE, OWN, OR LEASE any housing project23
	532	+	within the city;24
	533	+	(k) To do all acts and things necessary or convenient to carry out25
	534	+	the powers expressly given in this part 1; AND26
	535	+	(l) TO MANAGE, OPERATE, AND MAINTAIN, OR CONTRACT FOR THE27
	536	+	1308
	537	+	-16- MANAGEMENT, OPERATION, AND MAINTENANCE, OF ANY HOUSING PROJECT1
	538	+	OWNED OR LEASED BY THE CITY.2
	539	+	SECTION 12. In Colorado Revised Statutes, amend 29-4-107 as3
	540	+	follows:4
	541	+	29-4-107. Management of housing projects. (1) The city, shall5
	542	+	AT THE CITY'S SOLE AND ABSOLUTE DISCRETION, MAY:6
	543	+	(a) CONTRACT WITH A NONPROFIT ENTITY OR PRIVATE ENTITY TO7
	544	+	MANAGE, MAINTAIN, AND OPERATE ANY HOUSING PROJECT CONSTRUCTED ,8
	545	+	ACQUIRED, OWNED, OR LEASED BY THE CITY; OR9
	546	+	(b) Deliver possession of any housing projects constructed,10
	547	+	acquired, OWNED, or leased by it THE CITY to the authority within the11
	548	+	boundaries of which the city is included, but the title to all property12
	549	+	comprising such housing projects shall remain in the city. The authority13
	550	+	shall operate and maintain all such housing projects of the city THAT THE14
	551	+	CITY HAS DELIVERED POSSESSION OF IN ACCORDANCE WITH THIS15
	552	+	SUBSECTION (1)(b) and shall fix, levy, and collect such rents, fees, or16
	553	+	other charges for the use and occupancy of such housing projects as such17
	554	+	authority determines; but if there are any agreements of the city with an18
	555	+	obligee, the authority shall fix, levy, collect, and revise such rents, fees,19
	556	+	and other charges in accordance with such agreements and subject20
	557	+	thereto. All rents, fees, and other charges received by the authority from21
	558	+	any such housing project shall not be commingled with any moneys22
	559	+	MONEY of the authority and shall be deposited in a special account in any23
	560	+	depository authorized in section 24-75-603. C.R.S.24
	561	+	(2) After the payment of the cost of operation and maintenance of25
	562	+	such A housing project THAT THE CITY DELIVERS POSSESSION OF TO THE26
	563	+	AUTHORITY PURSUANT TO SUBSECTION (1)(b) OF THIS SECTION, the net27
	564	+	1308
	565	+	-17- receipts of such project shall be paid by the authority to the city at1
	566	+	monthly or longer intervals as the city may determine or at such intervals2
	567	+	as shall be provided for in any agreement by the city with an obligee.3
	568	+	SECTION 13. In Colorado Revised Statutes, 29-4-209, amend4
	569	+	(1)(f) as follows:5
	570	+	29-4-209. Powers of authority. (1) An authority shall constitute6
	571	+	a body both corporate and politic, exercising public powers and having7
	572	+	all the powers necessary or convenient to carry out and effectuate the8
	573	+	purposes and provisions of this part 2, including the following powers in9
	574	+	addition to others granted in this section:10
	575	+	(f) To manage as agent of the city any project constructed or11
	576	+	owned by the city THAT THE CITY DELIVERS POSSESSION OF TO THE12
	577	+	AUTHORITY PURSUANT TO SECTION 29-4-107 (1)(b);13
	578	+	SECTION 14. In Colorado Revised Statutes, 39-3-127.7,14
	579	+	amend (7) as follows:15
	580	+	39-3-127.7. Community land trust property - nonprofit16
	581	+	affordable homeownership developer property - exemption -17
	582	+	requirements - legislative declaration - definitions. (7) (a) Any18
	583	+	community land trust or nonprofit affordable homeownership developer19
	584	+	that claims a property tax exemption pursuant to this section shall comply20
	585	+	with the provisions of section 39-2-117; EXCEPT THAT IF THE REAL21
	586	+	PROPERTY THAT IS ALLOWED AN EXEMPTION PURSUANT TO THIS SECTION22
	587	+	HAS BEEN SUBDIVIDED, THE OWNER OF SUCH PROPERTY OR THE OWNER'S23
	588	+	AGENT IS ONLY REQUIRED TO:24
	589	+	(I) SUBMIT ONE APPLICATION FOR THE EXEMPTION FOR ALL25
	590	+	PARCELS IN CONNECTION WITH THE SUBDIVISION PURSUANT TO SECTION26
	591	+	39-2-117 (1)(a), BUT THE FILING MUST BE ACCOMPANIED BY A PAYMENT27
	592	+	1308
	593	+	-18- IN ACCORDANCE WITH SECTION 39-2-117 (1)(a)(I) IN AN AMOUNT NOT TO1
	594	+	EXCEED THE AGGREGATE AMOUNT OF PAYMENTS THAT WOULD BE2
	595	+	REQUIRED IF INDIVIDUAL APPLICATIONS WERE FILED FOR EACH PARCEL;3
	596	+	AND4
	597	+	(II) IF THE EXEMPTION IS GRANTED , FILE ONE ANNUAL REPORT5
	598	+	PURSUANT TO SECTION 39-2-117 (3)(a) FOR ALL PARCELS IN CONNECTION6
	599	+	WITH THE SUBDIVISION, BUT THE FILING MUST BE ACCOMPANIED BY A7
	600	+	PAYMENT IN ACCORDANCE WITH SECTION 39-2-117 (3)(a) IN AN AMOUNT8
	601	+	NOT TO EXCEED THE AGGREGATE AMOUNT OF PAYMENTS THAT WOULD BE9
	602	+	REQUIRED IF INDIVIDUAL REPORTS WERE FILED FOR EACH PARCEL .10
	603	+	(b) NOTWITHSTANDING SUBSECTION (7)(a)(II) OF THIS SECTION, IF11
	604	+	THE REAL PROPERTY THAT IS ALLOWED AN EXEMPTION PURSUANT TO THIS12
	605	+	SECTION HAS BEEN SUBDIVIDED BUT THE SUBDIVIDED PARCEL HAS BEEN13
	606	+	SPLIT INTO A SEPARATE TAXABLE PARCEL FROM THE IMPROVEMENTS AND14
	607	+	IS LEASED TO THE OWNER OF THE IMPROVEMENTS AS AN AFFORDABLE15
	608	+	HOMEOWNERSHIP PROPERTY, THEN THE OWNER OF SUCH REAL PROPERTY16
	609	+	OR THE OWNER'S AGENT MUST FILE AN INDIVIDUAL ANNUAL REPORT FOR17
	610	+	THE SUBDIVIDED PARCEL IN ACCORDANCE WITH SECTION 39-2-117 (3)(a).18
	611	+	SECTION 15. No appropriation. The general assembly has19
	612	+	determined that this act can be implemented within existing20
	613	+	appropriations, and therefore no separate appropriation of state money is21
	614	+	necessary to carry out the purposes of this act.22
	615	+	SECTION 16. Act subject to petition - effective date -23
	616	+	applicability. (1) This act takes effect at 12:01 a.m. on the day following24
	617	+	the expiration of the ninety-day period after final adjournment of the25
	618	+	general assembly; except that, if a referendum petition is filed pursuant26
	619	+	to section 1 (3) of article V of the state constitution against this act or an27
	620	+	1308
	621	+	-19- item, section, or part of this act within such period, then the act, item,1
	622	+	section, or part will not take effect unless approved by the people at the2
	623	+	general election to be held in November 2024 and, in such case, will take3
	624	+	effect on the date of the official declaration of the vote thereon by the4
	625	+	governor.5
	626	+	(2) (a) Sections 4 through 9 of this act apply to applications6
	627	+	submitted for affordable housing programs administered by the division7
	628	+	of housing on or after September 1, 2024, or, if a referendum petition is8
	629	+	filed in accordance with subsection (1) of this section, on or after the date9
	630	+	of the official declaration of the vote thereon by the governor.10
	631	+	(b) Sections 10 through 13 of this act apply to any housing project11
	632	+	pursuant to part 1 of article 4 of title 29, C.R.S., on or after the applicable12
	633	+	effective date of this act.13
	634	+	(c) Section 14 of this act applies to applications submitted and14
	635	+	annual reports filed pursuant to section 39-2-117, C.R.S., for the15
	636	+	exemption allowed by section 39-3-127.7, C.R.S., on or after the16
	637	+	applicable effective date of this act.17
	638	+	1308
	639	+	-20-