RELATING TO THE DWELLING UNIT REVOLVING FUND.

The Dwelling Unit Revolving Fund equity pilot program is made permanent, removing the 2028 expiration date and extending the final report deadline to 2028.

Eligible buyers must now work in professions facing labor shortages (healthcare, education, law enforcement, correctional staff, or agriculture) and may receive up to 35% of the purchase price in gift funds.

New repayment triggers were added, requiring buyers to repay the corporation's equity share if they refinance, transfer title, or rent out the unit within 30 years.

The bill gives preference to housing projects developed under government assistance programs approved under section 201H-36(a)(2).

The definition of 'housing development project' was expanded to include tangible and intangible assets held or used in connection with the project.

Extends the Dwelling Unit Revolving Fund Equity Pilot Program from 2028 to 2030.

Removes the restriction that eligible buyers must not own other real property and eliminates the cap on gift funds (previously 35% of purchase price).

Adds specific professions facing labor shortages as priority criteria, including healthcare workers, educators, law enforcement, correctional facility staff, and agricultural field workers.

Changes repayment terms to require buyers to repay only the appreciated equity value rather than the full equity amount plus appreciation share.

Updates reporting requirements to include interim reports through 2029 and a final report by 2030, with submissions due 20 days before legislative sessions.

Expands allowable uses of the revolving fund to include interim and permanent primary or secondary financing, building cost supplements, and federal guarantee requirements for low-income housing tax credits.

Clarifies that equity repayment obligations run with the deed until satisfied, regardless of whether the unit is sold within the 30-year period.