HB 15-1384: Unclaimed Property Trust Fund for Affordable Housing

• State treasurer transmits one-third of available unclaimed property trust fund balance annually from July 1, 2015 through July 1, 2019 to the Colorado Housing and Finance Authority for affordable housing assistance.

• Funds support rental assistance for low- and extremely low-income households and construction, acquisition, or rehabilitation of rental housing for low- and extremely low-income households or owner-occupied housing for low- and moderate-income households statewide.

• Colorado Housing and Finance Authority partners with the Division of Housing in the Department of Local Affairs to administer funded programs through an intergovernmental agreement to be established by January 1, 2016.

• Division allocates funds to new or existing programs with state housing board approval, subject to annual caps of 25 percent maximum for rental assistance and 25 percent maximum for owner-occupied housing development.

• Fund and related provisions are repealed effective July 1, 2023.