HB 26-1061

HB 26-1061, also known as the Community Integration Housing Tax Credits bill, aims to support the development of housing that integrates people with intellectual and developmental disabilities into their communities. The bill requires at least 10% of Colorado’s affordable housing tax credits to be reserved for these community-based housing projects, which must reserve a minimum of 20% of their units for individuals with disabilities and meet specific federal standards. Once signed into law, this measure ensures that more resources are dedicated to creating inclusive living environments, benefiting those who need accessible and supportive housing options. Since the bill has been signed, it is now law and its provisions will be implemented by the Colorado Housing and Finance Authority.

Official Summary

The bill creates a targeted allocation priority within Colorado's administration of federal and state affordable housing tax credits to support development of integrated, community-based housing for persons with intellectual and developmental disabilities. The bill requires a set aside of at least 10% of the state's annual allocation of competitive federal low-income housing tax credits (federal tax credits) for "community integration housing". To qualify, a development must comply with federal tax credit requirements, meet federal home- and community-based services settings standards, reserve at least 20% of its units for persons with intellectual and developmental disabilities, and partner with a community-centered board or certified case-management agency. The bill authorizes the Colorado housing and finance authority (authority) to reallocate unused credits from the set aside at the end of a calendar year for allocation to any eligible project.The bill amends the state affordable housing tax credit (state tax credit) to require the authority to provide priority scoring or preference to qualified developments that have received a federal tax credit as a qualified community integration housing development and that continue to meet all requirements for community integration housing. The requirement for priority scoring or preference does not waive or otherwise limit the authority's ability to enforce all applicable eligibility requirements or to determine the amount of the state tax credit to be allocated to any qualified development.(Note: This summary applies to this bill as introduced.)

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