CT HB07068

Expands the definition of "administrative expense" for bond-financed state housing programs to include a comprehensive list of housing initiatives, effective October 1, 2019

Rewrites Section 8-37mm to establish a homelessness prevention and response fund supported by up to $30 million in state bonds (with $15 million effective July 1, 2016)

Authorizes the Department of Housing to provide forgivable loans or grants to landlords for three purposes: renovating multifamily homes, funding ongoing maintenance and repair, or capitalizing operating and replacement reserves

Requires landlords receiving forgivable loans or grants to participate in rapid-rehousing or supportive housing programs, including rent abatement for a designated period and waiver of security deposits

Limits administrative costs to no more than 5 percent of the total allocation and authorizes bonds to mature within 20 years, backed by the full faith and credit of the state