UT HB0492

Creates the State Housing Infrastructure Partnership Fund with $100,000,000 appropriation for FY 2027 to provide loans to political subdivisions for infrastructure projects (water, sewer, transportation) that facilitate housing construction, with loan terms up to 20 years and interest rates within 1.5% of the federal funds rate

Establishes the State Housing Infrastructure Partnership Board (5 voting members) to administer infrastructure loans, with preference given to projects including detached single-family owner-occupied starter homes

Increases maximum bonds for affordable housing infrastructure grants from $70 million to $150 million and limits grant eligibility in certain counties to owner-occupied housing only

Diverts $5 million annually from FY 2030-2060 from the County of the First Class Highway Projects Fund for convention center revitalization in Salt Lake County, and creates a Convention Center Reserves Restricted Account with a $50 million transfer

Reduces Transportation Investment Fund allocation for SR-89 improvements from $300 million to $250 million and requires the State Treasurer to conduct an economic impact study of the infrastructure loan program by October 1, 2028