Bipartisan Bill to Boost Affordable Workforce Housing Advances

Legislation would allow counties to boost access to housing, child care, and behavioral health

DENVER, CO - The House today advanced bipartisan legislation to grant local governments the authority to create property tax rebate programs to address areas of specific local concern, including affordable housing development.

“There has been a significant rise in the cost of housing, especially in the Western Slope, forcing Coloradans to spend more of their money on housing and less on other necessary costs, like health care and groceries,” said Speaker Julie McCluskie, D-Dillon. "Our bipartisan legislation would allow local governments to address the unique challenges that their communities face, like shortages in workforce housing, childcare, mental health care services, and much more.”

SB24-002, also sponsored by Rep. Lisa Frizell, R-Castle Rock, would allow local governments to establish property tax incentive programs to address critical issues related to housing, child care, behavioral health, and economic development. This could include programs that address affordable housing needs, the availability of in-home daycares, economic revitalization, and the creation of stronger social resources and services for working families.

Under the bill, a municipality would be able to authorize tax credits or rebates that incentivize property owners to convert rental properties from short-term to long-term, boosting the availability of workforce and more permanent housing. The bill allows a local government to renew a tax rebate or incentive program for up to one year if they find that it has effectively addressed the area of specific local concern.