HB 5731 Summary

• Amends the Neighborhood Enterprise Zone Act to modify application filing deadlines and procedures for homestead facilities and new/rehabilitated facilities located in designated neighborhood enterprise zones.

• Allows applications to be filed after a building permit is issued under specific conditions, including rehabilitations of qualified historic buildings and homestead facilities, rather than requiring pre-permit applications in most cases.

• Establishes multiple dated exceptions (subsections 2(a) through 2(p)) permitting post-permit applications for facilities in zones designated during specific calendar years with corresponding building permit issuance windows.

• Requires homestead facility applicants to commit to a minimum $500 investment within the first 3 years and document the investment if requested by the local assessor.

• Allows subsequent owners of new homestead facilities to apply for certificates retroactively if the original owner did not apply, with terms not exceeding 12-15 years depending on the zone designation date.