Louisiana House Bill HR107

Louisiana 2022 Regular Session

• Introduced: 5/2/22
• Refer: 5/3/22
• Report Pass: 5/12/22
• Passed: 5/24/22

Caption

Requests the Louisiana Housing Corporation to study issues related to the availability of affordable housing

Impact

The resolution recommends that the LHC explores strategies to better protect local developers from potentially exploitative actions by outside investors, including premature removal from partnerships and unnecessary financial demands. This could lead to amendments in policies governing the low-income housing tax credit program and potentially the establishment of a state-specific program to incentivize local development. By focusing on the discrepancies encountered by local developers, the bill aims to create a more favorable environment for the construction and rehabilitation of low-income housing, particularly in less populous parishes.

Summary

House Resolution 107 urges the Louisiana Housing Corporation (LHC) to conduct a comprehensive study on the issues surrounding affordable housing availability in Louisiana. The resolution spotlight the importance of local developers in ensuring the opportunity for safe and affordable housing for Louisiana residents, urging the LHC to perform public hearings to gather insights from both developers and investors. The emphasis is on enhancing protection for Louisiana-based housing developers against practices by out-of-state investors which could be detrimental to the completion of affordable housing projects.

Sentiment

The sentiment around HR107 appears generally supportive from lawmakers who recognize the critical role of local developers in establishing affordable housing. The resolution reflects a desire to foster local investment and address challenges that arise due to external investor practices. However, there might be underlying concerns regarding the feasibility of the proposed safeguards against external entities and how effective public hearings could translate into meaningful policy changes.

Contention

One notable point of contention arises from the ongoing tensions between local interests and external investments in housing projects. Critics might argue that emphasizing local developer needs could lead to regulatory hurdles for external investors that could impact funding for projects. There are also questions about balancing the need for affordable housing with creating an environment conducive to investment, as the resolution may unintentionally hinder partnerships that benefit the housing market through financial support.