SB 25-006: Investment Authority of State Treasurer for Affordable Housing

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

The act authorizes the state treasurer to invest up to $50 million of state money in bonds, which may have below-market interest rates, that are issued by a quasi-governmental authority to create or finance new affordable, income-restricted for-sale housing that would not be made available at similar rates and terms without the state's investment. The housing must remain affordable long-term and be available to borrowers earning no more than 140% of the statewide area median income. The bonds may have a term of up to 45 years and must have at least 2 credit ratings at or above A- or A3 or its equivalent from nationally recognized rating organizations. Money from principal proceeds of such bonds must be reinvested by the state treasurer for the same purpose once the state treasurer has received repayment of 50% of the principal amount invested. The quasi-governmental authority issuing the bonds shall provide an annual report to the treasurer and the general assembly that includes specified information about the affordable housing created with bond proceeds. (Note: This summary applies to this bill as enacted.)

Sponsors

Sponsors by party (alphabetical): Democratic 26 · Republican 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. May 15, 2025Governor Signed
2. April 29, 2025Signed by the President of the Senate
3. April 29, 2025Signed by the Speaker of the House
4. April 29, 2025Sent to the Governor
5. April 16, 2025Senate Considered House Amendments - Result was to Concur - Repass
6. April 11, 2025House Third Reading Passed - No Amendments
7. April 6, 2025House Third Reading Laid Over Daily - No Amendments
8. April 4, 2025House Third Reading Laid Over to 04/06/2025 - No Amendments
9. April 3, 2025House Second Reading Special Order - Passed with Amendments - Committee
10. March 27, 2025House Second Reading Laid Over Daily - No Amendments
11. March 24, 2025House Committee on Finance Refer Amended to House Committee of the Whole
12. March 4, 2025House Committee on Transportation, Housing & Local Government Refer Unamended to Finance

Showing 12 most recent of 17 actions. Full history