Investment Authority of State Treasurer for Affordable Housing
Status
Introduced In Senate - Assigned to Local Government & Housing (01/08/2025)
Bill Subjects
Fiscal Policy & Taxes
Housing
State Government
State Revenue & Budget
House Sponsors
Senate Sponsors
House Committee
Senate Committee
Local Government and Housing
Date Introduced
01/08/2025
AI Summary
Summary
The bill authorizes the state treasurer to invest up to $50 million
of state money in bonds that may have below-market interest rates that are issued by a quasi-governmental entity if the proceeds of the bonds are used for the creation of affordable for-sale housing that otherwise would not be created without the state's investment. Money from redemption of such bonds may be reinvested by the state treasurer for the same purpose.
