SB 24-174 Summary

• Requires Colorado local governments to conduct housing needs assessments by December 2026 and every six years thereafter, categorizing housing needs by income level and dwelling type (accessible, supportive, rental, for-sale units).

• Mandates local governments with 5,000+ residents (or 1,000+ in rural resort communities) adopt housing action plans by January 2028 that address housing needs and implement at least two affordability strategies plus one displacement mitigation strategy.

• Creates directories of affordable housing strategies (inclusionary zoning, density bonuses, fee reductions) and displacement mitigation strategies (eviction prevention, property tax assistance, community benefits agreements) for local governments to implement.

• Requires county and municipal master plans to include water supply elements and strategic growth elements promoting infill development, transit-oriented housing, and prevention of sprawl by December 2026.

• Appropriates $15 million from mineral and severance tax funds to a housing needs planning technical assistance fund to support local governments in conducting assessments and creating plans, with $583,864 allocated for information technology services.