SB22-146 Summary

• Appropriates $25.0 million from the Affordable Housing and Home Ownership Cash Fund to the Department of Local Affairs for the 2022-23 fiscal year to expand the Colorado Housing and Finance Authority's Middle Income Access Program.

• Targets housing assistance for Coloradans earning 80 percent area median income and above, addressing the "missing middle" workforce whose incomes exceed traditional low-income housing thresholds but remain overburdened by market rents.

• Directs the Division of Housing to contract with the Colorado Housing and Finance Authority for administration of the appropriated funds, which may include normal and customary administrative fees and expenses.

• Program must be administered consistent with guidelines established by the Colorado Housing and Finance Authority and applied to affordable rental housing development statewide.

• Declares the act necessary for immediate preservation of public peace, health, or safety under emergency provisions.