If approved by the voters of the state at the 2026 general election, the concurrent resolution authorizes a county to allow an exemption from property tax imposed by the county to the owner-occupier of single-family residential real property owned outright by the owner-occupier without a mortgage.(Note: This summary applies to this concurrent resolution as introduced.)
Current law requires a local government or a tribal government desiring to receive funding from the statewide affordable housing fund to have filed with the division of housing of the department of local affairs (division) a commitment specifying how, within a 3-year cycle, affordable housing units within the local or tribal government's territorial boundaries will be increased by 3% each year over the baseline number of affordable housing units (baseline number). The baseline number resets every 3 years for the next cycle. To be eligible for funding from the statewide affordable housing fund, a local or tribal government is required to file a commitment with the division and achieve the 3% increase over the baseline number each year during the 3-year cycle. The act changes the requirements for the 3-year cycle beginning on January 1, 2027, and each 3-year cycle thereafter. A local government desiring to receive funding from the statewide affordable housing fund is no longer required to increase affordable housing units by 3% above the baseline each year, but is instead required to meet the target increase number of affordable housing units (target increase number). The target increase number equals the average annual number of permits for new housing units or functional equivalents of permits for new housing units that have been issued over the past 3 years within the jurisdiction of the local government, multiplied by the number of years of the upcoming 3-year cycle to which the local government is committing, multiplied by:0.10 if the average annual job growth rate in the county in which the local government is located is significantly lower than the statewide median annual job growth rate over the past 3 years, as determined by the division;0.15 if the average annual job growth rate in the county in which the local government is located is close to the statewide median annual job growth rate over the past 3 years, as determined by the division; or0.20 if the average annual job growth rate in the county in which the local government is located is significantly higher than the statewide median annual job growth rate over the past 3 years, as determined by the division. The act requires the division to establish specific numerical ranges for the job growth rate thresholds. The act permits a local government that desires to be eligible for funding from the statewide affordable housing fund but is unable to achieve the 3% annual increase in affordable housing units for the 3-year cycle beginning on January 1, 2024, to file a good faith effort waiver with the division. To be eligible, the local government must have achieved at least 65% of the targeted annual increase. The division may, in its discretion, grant a good faith effort waiver to a local government that filed for a waiver on or after June 15, 2026, but before November 1, 2026, and complied with other requirements of the act. The act permits a government that desires to be eligible for funding from the statewide affordable housing fund but is unable to meet the target increase number in affordable housing units for the 3-year cycle beginning on January 1, 2027, to file an adjustment waiver with the division. The adjustment waiver must be supported by verifiable data and propose a revised annual increase of at least one unit per year. The division may, in its discretion, grant an adjustment waiver to a government that filed for a waiver and complied with other requirements of the act. To determine whether a local government has achieved the target increase number for the 3-year cycle beginning on January 1, 2027, and for each 3-year cycle thereafter, an affordable housing unit that satisfies the following criteria counts for one affordable housing unit plus the following corresponding additional unit amount:Unless local governments have a written agreement otherwise, a unit developed with money from multiple local governments may be counted by each local government as a percentage of one unit proportional to the percentage of funding it provided;A unit that is developed on land donated by the local government qualifies for an additional 0.10 of a unit. The 0.10 of a unit qualifies for the local government that donated the land.An affordable housing unit that is developed with money provided by multiple local governments qualifies for an additional 0.10 of a unit for each local government that provided money;A unit that is developed to be for-sale housing and that meets certain affordability requirements qualifies for an additional 0.20 of a unit; andA unit that is restricted to be rented or sold to a household with an annual income of at or below 40% of the area median income, including a supportive housing unit, qualifies for an additional 0.20 of a unit. If affordable housing is developed and qualifies for a property tax exemption, thereby reducing property tax revenue to the county in which the affordable housing is located, and the county did not provide any money to develop the affordable housing, the division may, in its discretion, allow each such affordable housing unit to count as up to 1.15 affordable housing units for the county at the time of vertical construction. Beginning in 2027, to be eligible for direct funding, or for affordable housing projects within a tribal government's territorial boundaries to be eligible for funding, tribal governments are required to implement a system to expedite the development approval process for affordable housing projects and required to submit evidence of such satisfaction to the division.(Note: This summary applies to this bill as enacted.)
Section 4 of the bill creates the 'Building Excellent Teacher and Employee Residences Act' (BETER). BETER creates a new school district financing opportunity for the development of housing for teachers and other school district and public school staff (workforce housing). The bill creates an application process by which a school district (applicant) may apply to the workforce housing assistance board (board) for financial assistance in connection with developing a workforce housing project. The division of public school capital construction assistance within the department of education (division of public school capital construction assistance) and the division of housing within the department of local affairs (division of housing) shall assist applicants in identifying workforce housing needs and in submitting applications to the board. No later than June 1, the board, with the support of the division of housing and division of public school capital construction assistance, shall review these applications according to guidelines that the board establishes and creates an initial prioritized list of workforce housing projects to award financial assistance. The board shall submit this initial prioritized list to the state board of education and the state housing board for comment. No later than July 15, the board shall determine a final prioritized list of projects for which the board will provide financial assistance. The board may only award financial assistance to an applicant for a workforce housing project if:The board determines that the project complies with affordability, tenancy, and environmental and building requirements established by the board; andUnless the board grants an exemption, the applicant provides matching money in an amount at least equal to the portion of the total development cost of the workforce housing project that can be financed with and supported by net operating income generated from the project.The board may only provide an amount of financial assistance to an applicant for a workforce housing project that is equal to or less than the portion of the amount of the workforce housing project's total development cost that exceeds the amount that the applicant can finance and support with the workforce housing project's net operating income. The board may provide financial assistance to an applicant for a workforce housing project by awarding matching grants that are paid out of the workforce housing assistance fund (fund) or by instructing the state treasurer to enter into a financed purchase of an asset or certificate of participation agreement. In this context, the financed purchase of an asset or certificate of participation agreement means a lease-purchase agreement between the state treasurer and a trustee pursuant to which:The state makes rental payments that include principal and interest components; andThe trustee, pursuant to an indenture of trust, creates certificates of participation evidencing undivided interests in the payments made by the state under the lease-purchase agreement. Any payment obligation of the state as part of a financed purchase of an asset or certificate of participation agreement is subject to annual appropriation and does not create an indebtedness or multiple fiscal year financial obligation of the state within the meaning of any provision of the state constitution or state statute. If the state treasurer enters into a financed purchase of an asset or certificate of participation agreement, the board shall enter into a sub-financed purchase of an asset or certificate of participation agreement for the workforce housing project with the applicant that will use the workforce housing. The sub-financed purchase of an asset or certificate of participation agreement must:Require the applicant to perform for the state all duties of the state to maintain and operate the workforce housing project and to make periodic rental payments to the state or otherwise make a payment to the state in the amount of the matching money required for the award of financial assistance; andProvide for the transfer of ownership of the workforce housing from the state to the applicant upon the fulfillment of both the state's obligations under the financed purchase of an asset or certificate of participation agreement and the applicant's obligations under the sub-financed purchase of an asset or certificate of participation agreement. The board is required to present an annual written report to the education and finance committees of the house of representatives and the senate regarding the provision of financial assistance to applicants. The board is also required to post a similar report on the department of education's website. Sections 5, 6, 7, and 8 establish the funding mechanism for the fund. The state constitution restricts the use of the principal of the public school fund and only allows for the use of public school fund interest and income. Sections 6 and 7 clarify that public school fund interest and income includes realized and unrealized gains and directs the transfer of the lesser of an amount of interest and income equal to 2.5% of the total value of the public school fund after making currently required interest and income distributions from the public school fund or $40 million to the state public school fund. Section 5 creates the public school fund income stabilization account within the public school fund and directs the treasurer to credit the difference between the amount transferred from the public school fund to the state public school fund as described in section 6 and $40 million to the account. The uses of the account are limited to supplementing payment from or the principal of the public school fund. Section 8 directs the state treasurer to annually transfer an amount equal to the amount transferred from the public school fund to the state public school fund pursuant to section 6 from the state education fund to the fund. Section 1 expands school district powers concerning the development and financing of workforce housing. Specifically, section 1 allows for school districts to:Acquire, construct, improve, own, operate, lease, and lease-purchase workforce housing;Issue bonds to finance workforce housing;Enter into contracts with public entities and private parties to finance workforce housing; andCreate enterprises for the acquisition, construction, improvement, ownership, operation, leasing, and lease-purchasing of workforce housing.Section 1 also describes the characteristics of bonds issued by school district-created enterprises for the purpose of financing workforce housing. Section 2 adds certain school district and school district enterprise lease agreements, lease-purchase agreements, and revenue bonds entered into or issued in connection with financing workforce housing to the state intercept program. Sections 3, 9, and 10 grant the division of public school capital construction assistance, the state treasurer, and the division of housing the powers necessary to implement the bill.(Note: This summary applies to this bill as introduced.)
The act requires the department of local affairs, as part of its SMART Act hearing in January of 2027, to submit and present a proposal for the development of a statewide strategy on homelessness prevention and resolution. The proposal must include a plan that sets forth a timeline, an estimated budget, and a process for developing and implementing a statewide strategy on homelessness prevention and resolution. The proposal must set forth the following components that must be included in the statewide strategy on homelessness prevention and resolution:Identification of gaps and barriers that impede access to operational services for individuals experiencing homelessness;Identification of state agency-provided housing resources, including utilization rates;Recommendations for collaboration between state and local partners to facilitate homelessness response;Recommendations for funding and policies that could be implemented at the state level to support homelessness prevention and resolution;Recommendations proposed in coordination with continuum of care organizations to improve the implementation of the homeless management information system, data reporting, and coordinated entry systems; and Updates on regional navigation campuses. When developing the proposal, the department shall seek and incorporate feedback from a diverse array of stakeholders. The act creates a new type of special district, a multijurisdictional homelessness response authority (authority), which may be created when any combination of local governments enter into an intergovernmental agreement with one another to establish an authority. An authority must:Be used by the contracting local governments to reduce and prevent homelessness; andHave boundaries that contain the entirety of all the contracting local governments, but nothing more. An authority has several discretionary powers that relate to its ability to coordinate and plan with departments and organizations to reduce and prevent homelessness, including the power to provide for the levy of sales or sales and use taxes by the contracting local governments. If the intergovernmental agreement that creates an authority provides for the levy of a sales or sales and use tax by the contracting local governments within the boundaries of the authority:Each contracting local government shall submit to its registered electors a ballot question that relates to the tax and that requires any new tax revenue approved through the ballot question to be used solely for the planning, coordination, and implementation of regional strategies to reduce and prevent homelessness;The intergovernmental agreement must provide for a case in which the electors in some but not all of the contracting local governments approve the collection of the sales or sales and use tax at the general election; andThe intergovernmental agreement must provide that all or part of the taxes levied are distributed to the authority. An authority may seek, accept, and expend gifts, grants, or donations from private or public sources for the purposes of planning, coordinating, and implementing regional strategies to reduce and prevent homelessness, may issue revenue or general obligation bonds, and may pledge its revenue and revenue-raising powers for the payment of such bonds. The act allows a county to designate a portion of documentary filing fees, which are collected for filing documents associated with the grant or conveyance of real property, to be transferred to the county government or a housing authority for the purpose of developing, preserving, or acquiring affordable housing that:Is within the jurisdiction of the county government or housing authority;Is aligned with demonstrated community needs; andWill be available to individuals experiencing homelessness.(Note: This summary applies to this bill as enacted.)
The bill requires that, on or after October 1, 2031, a subject jurisdiction shall not require:That a parcel lot have an area larger than 2,000 square feet if the parcel's lot's residential use is limited to a single family home; or Minimum lot frontage, setbacks, open space, or maximum lot coverage dimensions that have the practical effect of preventing the construction of a single family home on a lot that has an area of 2,000 square feet and that has a residential use limited to a single family home.The bill exempts certain types of parcels lots from this requirement.(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
The act makes the following changes to statutes concerning accessible housing standards:Defines 'accessible story' as a story on an accessible route that contains living, sleeping, cooking, bathing, and toilet facilities and, if available in the dwelling unit, laundry facilities. A basement is not an 'accessible story' if the basement floor is located more than 4 feet below the exterior finished grade, which is determined by assessing the vertical difference at any point along the exposed periphery of the dwelling unit.Defines 'dwelling unit' as any portion of a building that contains living facilities, including a room or rooms in a living facility that have shared cooking, bathing, toilet, or laundry facilities, such as dormitories, shelters, assisted living facilities, and boarding homes. 'Dwelling unit' also means living facilities that include provisions for sleeping, cooking, bathing, and toilet facilities for one or more persons and that are used for extended stays, such as time-shares and extended-stay motels. 'Dwelling unit' does not mean a guest room in a motel or hotel.Defines 'ICC A117.1' as the 'Standard for Accessible and Usable Buildings and Facilities' 2017 edition, or any successor standard, as adopted by reference by the building code of the responsible enforcement agency;Clarifies that 'Type A' and 'Type B multistory dwelling units' must include at least one accessible story that can be accessed via an accessible entrance; Requires projects with fewer than 50 units may use any combination of accessible dwelling units to comply with the standards; Requires projects with 50 or more units to include at least 2% accessible dwelling units, and that they must include at least on unit that is either a 'Type A', 'Type B', 'Type A Multistory', 'Type B Multistory', or 'Type C visitable' dwelling unit; andPermits covered enforcing agencies to develop alternative processes to resolve appeals of orders, decisions, or determinations made by the enforcing agency regarding the application and interpretation of the standards for accessible housing law.(Note: This summary applies to this bill as enacted.)
The act requires a subject jurisdiction to, on or after December 31, 2027, subject to an administrative approval process, allow the construction of a residential development on a qualifying property that does not contain an exempt parcel; except that, if on December 31, 2027, a subject jurisdiction is actively in the process of updating the subject jurisdiction's zoning or development code to comply with the act, the subject jurisdiction is required to complete the updates and allow the construction of a residential development on a qualifying property that does not contain an exempt parcel by June 30, 2028. A qualifying property is real property that contains no more than 5 acres of land and is owned by:A school district;A state college or university;A board of cooperative services;A housing authority;A local or regional transit district or a regional transportation authority serving one or more counties;A nonprofit organization with a demonstrated history of providing affordable housing; orA nonprofit organization that has entered into an agreement with another nonprofit organization with a demonstrated history of providing affordable housing, provided that the agreement requires the nonprofit organization with a demonstrated history of providing affordable housing to develop a residential development on the property. If a subject jurisdiction requests, as part of an initial development application, that a nonprofit organization with a demonstrated history of providing affordable housing provide documentation that the nonprofit meets required criteria, the nonprofit organization shall provide the documentation. A subject jurisdiction is not required to allow a residential development on a qualifying property if the subject jurisdiction implements a transferable development rights program on the qualifying property and if the transferable development rights program includes a policy for affordable resident housing that is restricted in ownership and occupancy in perpetuity. A subject jurisdiction shall not:Disallow construction of a residential development on a qualifying property on the basis of height if the tallest structure in the residential development is no more than 3 stories or 38 feet tall, except in certain circumstances;Disallow construction of a residential development on a qualifying property on the basis of height if the tallest structure in the residential development complies with the height requirements of the zoning district in which the residential development will be built or the height requirements that apply to any parcel zoned to allow for residential development that is contiguous to the qualifying property on which the residential development will be built;Disallow construction of a residential development on a qualifying property based on the number of dwelling units the residential development will contain, except in accordance with standards listed in the act; orApply site design standards to a residential development on a qualifying property that are more restrictive than the site design standards the subject jurisdiction applies to similar housing constructed within the subject jurisdiction, including standards related to structure setbacks from property lines; lot coverage or open space; on-site parking requirements; numbers of bedrooms in a multifamily residential development; on-site landscaping, screening, and buffering requirements; solar access; minimum dwelling units per acre; or other objective setback standards that apply to residential dwellings, including setbacks from oil and gas facilities, oil and gas operations, stream corridors, riparian areas, wetlands, and sensitive wildlife habitats. Provided that the uses are allowed conditionally or by right within the zoning district in which a qualifying property is located, a subject jurisdiction shall allow the following uses in a residential development on a qualifying property:Child care; andThe provision of recreational, social, or educational services provided by community organizations for use by the residents of the residential development and the surrounding community. On or before December 31, 2027, the department of local affairs is required to publish guidance to assist subject jurisdictions in verifying the status of a nonprofit organization with a demonstrated history of providing affordable housing.(Note: This summary applies to this bill as enacted.)
The act allows a board of county commissioners and the governing body of a municipality to sell and dispose of property owned by the county or municipality, as applicable, to provide for affordable housing and allows a municipality to enter into a long-term rental or lease agreement for the development of affordable housing. The act allows for the approval of a mutijurisdictional housing authority at a biennial local election instead of only during a general election or an election held on the first Tuesday in November of an odd-numbered year. The ballot question about establishing the authority may be combined with a question about a tax, impact fee, multiple-fiscal year debt, or other financial obligation. The act allows a board of county commissioners to use ad valorem tax revenue for housing authorities, housing programs, and workforce housing. The act entitles an entity subject to income tax to which a middle-income housing tax credit is transferred by a governmental entity or quasi-governmental entity to claim the credit without owning an interest in a qualified project. The sale and use of construction materials by contractors is exempt from taxation if the materials are used by the state in its governmental capacity only. The act provides that 'governmental capacity' includes the construction of workforce housing projects undertaken by counties.(Note: This summary applies to this bill as enacted.)
The bill creates a targeted allocation priority within Colorado's administration of federal and state affordable housing tax credits to support development of integrated, community-based housing for persons with intellectual and developmental disabilities. The bill requires a set aside of at least 10% of the state's annual allocation of competitive federal low-income housing tax credits (federal tax credits) for "community integration housing". To qualify, a development must comply with federal tax credit requirements, meet federal home- and community-based services settings standards, reserve at least 20% of its units for persons with intellectual and developmental disabilities, and partner with a community-centered board or certified case-management agency. The bill authorizes the Colorado housing and finance authority (authority) to reallocate unused credits from the set aside at the end of a calendar year for allocation to any eligible project.The bill amends the state affordable housing tax credit (state tax credit) to require the authority to provide priority scoring or preference to qualified developments that have received a federal tax credit as a qualified community integration housing development and that continue to meet all requirements for community integration housing. The requirement for priority scoring or preference does not waive or otherwise limit the authority's ability to enforce all applicable eligibility requirements or to determine the amount of the state tax credit to be allocated to any qualified development.(Note: This summary applies to this bill as introduced.)
Current law provides an exemption for taxation on property acquired and developed for low-income housing by nonprofit housing providers, community land trusts, and nonprofit affordable homeownership developers. The bill expands the exemption to also include property intended for low-income residential rental property.(Note: This summary applies to this bill as introduced.)
