Connecticut House Bill HB05428

Connecticut 2013 Regular Session

• Introduced: 1/18/13
• Refer: 1/18/13

Caption

An Act Concerning The Definition Of Set-aside Developments.

Impact

The proposed changes embodied in HB 05428 aim to strengthen the current affordable housing law by expanding the eligibility criteria for affordable housing developments. By aligning the income eligibility requirement with sixty percent of the median income, the bill intends to make affordable housing more attainable for lower-income residents. This could lead to an increased availability of affordable units, fostering greater equity in housing access across the state.

Summary

House Bill 05428, introduced by Representative Wood, seeks to modify the definition of set-aside developments within state statutes. This bill proposes that all affordable housing units in such developments must be reserved for individuals whose income is at or below sixty percent of the state-wide median income. The intent behind this amendment is to enhance the inclusion of a broader demographic within affordable housing initiatives, thereby addressing the growing need for accessible housing in the state.

Contention

One notable point of contention surrounding the bill relates to the implications it may have on developers and the housing market at large. Critics might argue that enforcing stricter income requirements could deter investment in affordable housing projects, as developers may find it more challenging to meet financing models while accommodating those at lower income levels. Supporters counter that this approach could lead to more comprehensive and equitable housing solutions, making a strong case for the necessity of such regulations in combating housing disparities.