AN ACT CONCERNING FUNDING FOR AFFORDABLE AND SUPPORTIVE HOUSING.

SB 408 appropriates $3.35 billion over five years from the General Fund to fund affordable and supportive housing initiatives through the Department of Housing. The bill allocates specific amounts: $520 million for new affordable housing development, $1.3 billion for capital improvements to public housing (including $100 million for decarbonization and $10 million for accessibility upgrades), and $180 million for climate-resilient housing projects like converting vacant commercial spaces and building modular homes. This funding directly supports low-income residents and vulnerable populations by expanding access to affordable housing units and improving existing housing conditions. The bill focuses on concrete financial commitments rather than new regulations, with all funds designated for specific housing-related purposes through 2030.