HB 6552 Summary

• Appropriates $550,000,000 in total funding for fiscal year ending September 30, 2023, with $500,000,000 from federal coronavirus state fiscal recovery funds and $50,000,000 from state general funds.

• Allocates $300,000,000 for the ARP housing and community development fund to increase affordable housing through new single-family and multifamily home construction, with priority given to infill development, dense neighborhoods, and energy-efficient or net-zero projects.

• Allocates $200,000,000 for preservation of affordable housing, with $150,000,000 to maintain affordability of low-income housing tax credit properties and $50,000,000 to incentivize green building certifications.

• Allocates $50,000,000 for the missing middle gap housing program to support development of moderately-priced housing, continuing implementation from prior legislation.

• Requires the Department of Labor and Economic Opportunity to establish a responsible contractor program with detailed application, compliance, and audit requirements covering safety, wage, licensing, and equal employment opportunity standards for all funded projects.