Vermont H 479: An act relating to housing

Bill Text

BILLAS PASSED BY THE HOUSE H.479
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H.479
Introduced by Committee on General and Housing
Date:
Subject: Housing; housing programs; conservation and development; land use;
municipal zoning; appeals; municipal and county government;
Vermont Bond Bank; taxation and finance; taxcredits; municipal
taxes
Statement of purpose of bill as introduced: This bill proposes to make
multiple changes related to housing programs. Specifically, the bill proposes
to make amendments to the Vermont Rental Housing Improvement Program
and create the Manufactured Home Improvement and Repair Program, create
the Vermont Infrastructure Sustainability Fund, allow for taxcredits for the
First-Generation Homebuyer and Down Payment Assistance Program, make
changes to the Brownfield Property Cleanup Program, allow for municipalities
to enact a one percent taxon short-term rentals, make amendments to the
landlord certificate requirements, make changes to the requirements for
municipal zoning appeals, create the universal design study committee, and
require multiple housing related reports.
An act relating to housing
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It is hereby enacted by the General Assembly of the State of Vermont:
* * * Vermont Rental Housing Improvement Program * * *
Sec. 1. 10 V.S.A. § 699 is amended to read:
§ 699. VERMONT RENTALHOUSING IMPROVEMENT PROGRAM
(a) Creation of Program.
* * *
(5)(A) The Department may cooperate with and subgrant funds to State
agencies and governmental subdivisions and public and private organizations
in order to carry out the purposes of this subsection.
(B) Solely with regards to actions undertaken pursuant to this
subdivision, entities carrying out the provisions of this section, including
grantees, subgrantees, and contractors of the State, shall be exempt from the
provisions of 8 V.S.A. chapter 73 (licensed lenders, mortgage brokers,
mortgage loan originators, sales finance companies, and loan solicitation
companies).
* * *
(d) Program requirements applicable to grants and forgivable loans.
(1)(A) A grant or loan shall not exceed:
(i) $70,000.00 per unit, for rehabilitation or creation of an eligible
rental housing unit meeting the applicable building accessibility requirements
under the Vermont Access Rules; or
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BILLAS PASSED BY THE HOUSE H.479
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(ii) $50,000.00 per unit, for rehabilitation or creation of any other
eligible rental housing unit. Up to an additional $20,000.00 per unit may be
made available for specific elements that collectively bring the unit to the
visitable standard outlined in the rules adopted by the Vermont Access Board.
* * *
(e) Program requirements applicable to grants and five-year forgivable
loans. For a grant or five-year forgivable loan awarded through the Program,
the following requirements apply for a minimum period of five years:
(1) A landlord shall coordinate with nonprofit housing partners and
local coordinated entry homelessness service organizations approved by the
Department to identify potential tenants.
(2)(A) Except as provided in subdivision (2)(B) of this subsection (e), a
landlord shall lease the unit to a household that is:
(i) exiting homelessness, including any individual under 25 years
of age who secures housing through a master lease held by a youth service
provider on behalf of individuals under 25 years of age;
(ii) actively working with an immigrant or refugee resettlement
program; or
(iii) composed of at least one individual with a disability who
receives or is eligible approved to receive Medicaid-funded home and
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community based home-and community-based services or Social Security
Disability Insurance; or
(iv) with approval from the Department in writing, an
organization that will hold a master lease that explicitly states the unit will be
used in service of the populations described in this subsection (e).
* * *
(4)(A) A landlord may convert a grant to a forgivable loan upon
approval of the Department and the housing organization that approved the
grant.
(B) A landlord who converts a grant to a forgivable loan shall receive
a 10-percent prorated credit for loan forgiveness for each year in which the
landlord participates in the Program.
(f) Requirements applicable to 10-year forgivable loans. For a 10-year
forgivable loan awarded through the Program, the following requirements
apply for a minimum period of 10 years:
(1) A landlord shall coordinate with nonprofit housing partners and
local coordinated entry organizations to identify potential tenants The total
cost of rent for the unit, including utilities not covered by rent payments, shall
not exceed the applicable fair market rent established by the Department of
Housing and Urban Development, except that a landlord may accept a housing
voucher