SB 25-245

Senate Bill 25-245, which has been signed into law, allows the Colorado Division of Housing to use up to 4% of its housing development grant fund for administrative costs starting in fiscal year 2025-26. Previously, this limit was set at 3%. Additionally, the bill allocates $187,659 from the state budget specifically for affordable housing program costs managed by the Division of Housing during the same fiscal period. This change affects how funds are allocated and used to support housing programs in Colorado.

Official Summary

The housing development grant fund (fund) has been continuously appropriated to the division of housing in the department of local affairs (division), and the division has been authorized to expend up to 3% of the money in the fund for its administration of the fund. Beginning in state fiscal year 2025-26, the act increases the percentage of money in the fund that the division may expend for such administration to 4% and makes the expenditure of money from the fund for administrative costs subject to annual appropriation by the general assembly. For the 2025-26 state fiscal year, the act appropriates $187,659 to the department of local affairs for use by the division of housing for affordable housing program costs. (Note: This summary applies to this bill as enacted.)

Votes