Increasing opportunities for tenants to own homes under eventual tenant ownership programs established under the federal low-income housing tax credit program.

This bill requires private developers using federal low-income housing tax credits to formally transfer home ownership to tenants through programs like rent-to-own or eventual tenant ownership. Developers must set aside funds, clearly inform tenants of ownership rights, and complete transfers on time per agreements. The state housing agency must monitor progress annually, investigate tenant complaints within six months, and impose penalties - including losing future tax credits - for violations. It directly affects developers participating in these federal programs and tenants seeking homeownership opportunities.