Permits certain portion of municipal development trust funds to be spent on housing affordability assistance to veterans.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill allows municipalities that collect development fees for residential properties to dedicate up to 30% of those funds to assistance for first-time homebuying veterans. These grants, capped at $15,000 per recipient, can be used for down payment assistance and are not considered income for eligibility purposes with other state programs. The bill aims to supplement existing housing assistance programs for veterans and ensure these funds are used to support affordable housing opportunities.
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