HB 23-1304: Affordable Housing Programs Modifications

• Expands affordable housing program eligibility to include tribal governments and rural resort communities, allowing them to participate in state housing assistance programs created by Proposition 123.

• Establishes a petition process for rural resort communities to request different area median income percentages for specific programs based on demonstrated local housing needs and workforce requirements.

• Restructures fund administration by splitting the support fund between the Division of Housing (for home ownership and homelessness programs) and Division of Local Government (for local planning capacity development).

• Adds new definitions including "rural resort community" (counties classified as rural resort by the Division of Local Affairs) and "tribal government" (federally recognized tribal nations with land in Colorado).

• Requires the office and Division to report to the Joint Budget Committee and relevant legislative committees by October 1, 2024, and annually thereafter on financing fund and support fund disbursements, including applicants, funded projects, households served, and geographic distribution of funding.