CO SB216

Director of the Division of Housing must design state-level affordable housing incentives to provide insurance premium rebates for developers creating multi-family, owner-occupied affordable housing by November 1, 2015.

Proposed incentives must include specific eligibility criteria and are only available to developers in communities that already offer local-level affordable housing incentives; director must solicit public input and obtain State Housing Board approval before implementation.

Creates the Affordable Housing Incentive Cash Fund in the state treasury to provide insurance premium rebates, funded by General Assembly appropriations and private or public gifts, grants, or donations.

Division must submit annual reports to the governor and general assembly on November 1, 2016 and November 1, 2017 evaluating the effectiveness of the incentives.

The entire section is repealed effective July 1, 2018.