AN ACT ESTABLISHING A PROGRAM TO PROVIDE GRANTS TO LANDLORDS TO CREATE AFFORDABLE HOUSING.

SB 1096 establishes a state grant program administered by the Department of Housing to help landlords create affordable housing. Landlords can receive grants up to $50,000 per dwelling unit for repairing vacant properties, adding to existing buildings, or building accessory units on owner-occupied properties. Each unit must be rented as affordable housing for either five or ten years following the improvement. The bill directly affects landlords who own residential properties and seek to make housing more accessible. This program aims to increase the supply of affordable rental units through targeted financial assistance.