Increasing the flexibility of existing funding sources to fund public safety and other facilities by modifying the local real estate excise tax.

Increased the maximum additional excise tax rate from one-quarter of one percent (0.25%) to 0.5 percent of the selling price in specific sections.

Expanded the definition of 'capital projects' to explicitly include planning, acquisition, construction, and improvement of facilities for those experiencing homelessness and affordable housing projects.

Changed the allowable use of funds to allow up to 35 percent of available revenues for the maintenance of capital projects, rather than restricting it to new construction.

Added a new provision requiring that revenues used for homelessness and affordable housing facilities be supported through an interlocal housing collaboration.

Added a new effective date of January 1, 2026, for the sale of qualified space in developments qualifying for property tax exemptions to nonprofits or housing authorities.

Clarified that transfers of property between qualifying grantees do not trigger tax liability if the new grantee meets the original requirements within the exemption period.