An act relating to developing State-owned affordable housing

This bill creates a Vermont Housing Production Revolving Fund to develop state-owned affordable housing for low and moderate-income households (defined as earning up to 150% of area median income). It authorizes the State Treasurer to issue $50 million in bonds to fund the program, which will provide loans to developers for purchasing or building housing that remains permanently affordable. Repayments of principal, interest, and fees will replenish the fund for future projects, creating a self-sustaining system. The program requires equitable distribution of funds across communities based on economic need and annual reporting to legislative committees.