Introduced Version
HOUSE BILL No. 1165
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 5-20-1-4.9.
Synopsis: Down payment assistance. Provides that a person that
otherwise meets the qualifications to receive down payment assistance
under a down payment assistance program offered by the Indiana
housing and community development authority (authority) may pair
down payment assistance with a first mortgage issued by a community
development financial institution (CDFI) without regard to whether the
CDFI is a participating lender for purposes of the authority's mortgage
programs and down payment assistance programs.
Effective: July 1, 2025.
Moed
January 8, 2025, read first time and referred to Committee on Financial Institutions.
2025 IN 1165—LS 6719/DI 129 Introduced
First Regular Session of the 124th General Assembly (2025)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2024 Regular Session of the General Assembly.
HOUSE BILL No. 1165
A BILL FOR AN ACT to amend the Indiana Code concerning state
and local administration.
Be it enacted by the General Assembly of the State of Indiana:
1 SECTION 1. IC 5-20-1-4.9 IS ADDED TO THE INDIANA CODE
2 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
3 1, 2025]: Sec. 4.9. (a) As used in this section, "community
4 development financial institution" means an organization that has
5 been certified as a community development financial institution by
6 the federal Community Development Financial Institutions Fund,
7 in accordance with the Riegle Community Development and
8 Regulatory Improvement Act of 1994 (108 Stat. 2160, 12 U.S.C.
9 4701 et seq.).
10 (b) As used in this section, "down payment assistance program"
11 means any of the following programs:
12 (1) The next home program.
13 (2) The first step program.
14 (3) Any other program created by the authority that offers
15 down payment assistance.
16 (c) A person that seeks a first mortgage from a community
17 development financial institution may apply to the authority for
2025 IN 1165—LS 6719/DI 129 2
1 funds available under the authority's down payment assistance
2 programs. Notwithstanding any other provision of this article, a
3 person that otherwise meets the qualifications for down payment
4 assistance under a down payment assistance program may pair
5 down payment assistance with a first mortgage issued by a
6 community development financial institution without regard to
7 whether the community development financial institution is a
8 participating lender for purposes of the authority's mortgage
9 programs and down payment assistance programs.
2025 IN 1165—LS 6719/DI 129