HB 1054 Summary

• Establishes a rental deposit loan program providing zero percent interest loans up to $2,500 for security deposits to individuals and families earning 80-120% of area median income, with repayment over up to 48 months.

• Awards grants to counties and nonprofit corporations to administer the rental deposit loan program, with up to 8% of grant funds available for administrative costs.

• Appropriates $2,500,000 for fiscal year 2023-2024 and $2,500,000 for fiscal year 2024-2025 to establish the rental deposit loan program.

• Amends historic property definition to require properties be over 100 years old (instead of 50 years) and allows Department of Land and Natural Resources to retain third-party consultants for historic preservation reviews under specified conditions.

• Changes county legislative body approval of housing projects from mandatory to permissive, allowing rather than requiring approval for exemption from zoning and construction standards.