CO SB245

Increases the administrative cost cap for the Division of Housing from 3% to 4% of the Housing Development Grant Fund, effective state fiscal year 2025-26

Changes administrative expenditures from continuous appropriation to subject to annual appropriation by the General Assembly beginning in FY 2025-26

Appropriates $187,659 to the Department of Local Affairs for the Division of Housing for FY 2025-26 to implement the act

Authorizes an additional 1.8 FTE positions for affordable housing program administration

Division may transfer up to 20% of the fund balance to the Housing Investment Trust Fund, calculated as of July 1 of each fiscal year