AN ACT ESTABLISHING A GRANT PROGRAM TO CREATE AFFORDABLE HOUSING DEVELOPMENTS WITH CERTAIN DEED RESTRICTIONS.

HB 6120 creates a new state grant program administered by the Department of Housing to fund affordable housing developments. It requires that 60% of units in each development must be deed-restricted for households earning no more than $35,000 annually. The program directly affects low-income residents by ensuring a significant portion of new housing remains accessible to those with limited income. Developers receiving grants must comply with these income-based restrictions for the specified percentage of units. The bill focuses on expanding affordable housing options through mandatory income restrictions in newly built developments.