Housing Attainability Amendments

The sunset date for the Utah Homes Investment Program was extended from July 1, 2027, to July 1, 2029.

The sunset date for the Utah Housing Corporation was removed entirely, making it a permanent entity.

Cities of the first and second class are now eligible to receive state deposits to acquire and rehabilitate existing single-family homes for sale as attainable housing.

The definition of 'moderate income housing' was expanded to include both deed-restricted sales (up to 120% of area median income) and rental units (up to 80% of area median income).

New requirements were added for cities receiving funds to commit to owner-occupancy restrictions of at least five years and to expand existing home rehabilitation efforts.

The Utah Housing Corporation may now return deposits made by the state treasurer upon the repayment of loans or sale of homes, providing flexibility in fund management.

The maximum deposit amount for the Utah Homes Investment Program was increased from $60 million to $300 million.

Several sections regarding closed government meetings were reorganized and slightly reworded to clarify permissible topics, though the core restrictions remain largely the same.

Redefined 'qualified project' to include infrastructure within housing developments and projects by cities that rehabilitate single-family homes as attainable homes.

Changed the definition of 'attainable home' to reference Section 63H-8-501 instead of a specific subsection, and redefined 'moderate income housing' with updated income thresholds.

Added cities of the first and second class as eligible entities that can receive deposits and rehabilitate homes, with specific financial limits and owner-occupancy requirements.

Adjusted deposit limits from $60 million to $100 million and extended the deadline for deposit requests from December 31, 2025 to December 31, 2027.

Extended sunset dates for the Utah Homes Investment Program and Transportation Infrastructure General Fund Support Subfund from July 1, 2027 to July 1, 2029.

Modified Utah Housing Corporation trustee appointment rules to ensure no more than two trustees come from the same county and clarified conflict of interest disclosure requirements.

Added provisions allowing the Utah Housing Corporation to return deposits earlier than previously permitted without penalty.

Removed references to the Department of Transportation's rulemaking authority regarding surplus real property sales to state agencies.