UT SB0277

Expands Utah Homes Investment Program eligibility to include multi-family housing developments, affordable rental projects, acquisition of housing developments, and city-operated low-interest loan programs for income-eligible homeowners to make home improvements

Extends program participation beyond first and second class cities to include municipalities with eligible homeless shelters

Removes the previous interest rate cap of 150 basis points above federal funds rate that qualified depositories could charge developers or cities for loan financing

Requires the state treasurer to conduct and report a study analyzing the economic impact of the program by October 1, 2028, with authority to contract with a third party for the study

Extends the program's repeal date from July 1, 2028 to July 1, 2029, with an effective date of May 6, 2026