(April 26) – Speaker Crisanta Duran’s bipartisan bill to extend a tax credit to make housing more affordable for more Coloradans passed the House today.
SB18-007, sponsored in the House by Speaker Crisanta Duran, D-Denver, and Rep. Jon Becker, R-Fort Morgan, passed on a 43-22 vote. It extends the state’s affordable housing tax credit program through 2024.
“This bill ensures that more Coloradans have access to affordable housing,” Speaker Duran said. “The ultimate beneficiaries are seniors, veterans and hardworking Coloradans who are struggling to find an affordable place to call home in today’s hot real estate market.”
Through a program administered by the Colorado Housing and Finance Authority, developers compete for tax credits for building or preserving affordable rental housing, helping to offset construction costs and making it possible for the units to be rented at below-market rates to families and individuals earning low and moderate incomes.
The bill heads back to the state Senate for consideration of House amendments.