HB 1892 passed out of the Senate unanimously on March 1 with no further amendments. This legislation now goes to the Governor for signature. Neither capital budget proposal funded this program. Unless the final budget deal includes unexpected investments, we will have to wait for future sessions to see the effectiveness of this program.

Workforce Housing Accelerator Program advances from the House

February 9, 2024

HB 1892 passed out of the House unanimously on February 8. This proposal creates an innovative new revolving loan program to encourage for-profit housing developers to build “workforce” housing in the 50%-80% AMI range. We have been highlighting the 500,000 units needed for the lowest income ranges with legislators, but cities are also planning for 125,000 units of homes needed in the middle-income ranges. This bill aims to address that gap.