relative to a loan forgiveness program for low-income homeowners to build new accessory dwelling units or renovate existing structures into accessory dwelling units.

HB 604 establishes a conditional loan forgiveness program for low-income homeowners in New Hampshire to build new accessory dwelling units (ADUs) or convert existing structures into ADUs. It targets homeowners with household incomes at or below 80% of the area median income (as defined by HUD), requiring them to maintain affordability - renting the ADU at rates not exceeding 30% of tenant income - for the loan term. Loans are forgiven if the ADU remains affordable, even if the property is sold (with rent caps transferable or a payoff required). The program, administered by the New Hampshire Housing Finance Authority, would use funds from the Affordable Housing Fund but requires new state appropriations for implementation.