HF4649 Summary

• Proposes a constitutional amendment to extend the Environment and Natural Resources Trust Fund from 2025 to 2050 and establish a new Housing Fund, with both funded by state lottery proceeds.

• Increases the portion of lottery net proceeds directed to the Environment and Natural Resources Trust Fund from 40 to 50 percent, with the remaining 50 percent credited to the new Housing Fund beginning January 1, 2023.

• Establishes a nine-member Housing Fund Council appointed by the governor, with members including developers of color, formerly houseless individuals, renters, and realtors working with first-time home buyers, to make recommendations on housing fund spending prioritizing affordable housing for households at or below 30 percent of area median income.

• Modifies lottery prize claim procedures to transfer all unclaimed prize money annually to the Environment and Natural Resources Trust Fund rather than the general fund.

• Limits the annual appropriation from the Environment and Natural Resources Trust Fund to 7 percent of market value and restricts fund use to exclude wastewater facility construction or operation costs.