SB 998 - NYU Furman Center

State Land Use Enacted Legislation

Bill #	State	Year	Party	Topic
SB 998	CT	2023	D	Affordable housing incentives and financing, Fair distribution of housing, Funding, Planning Requirements, Waiver of Fees, Workforce Housing

Provided by Furman

Summary

Establishes an Office of Responsible Growth to coordinate statewide development and growth-related efforts across government.
Directs the Secretary of the Office of Policy and Management to develop a methodology for determining each municipality’s fair share of regional affordable housing need, based on specified criteria, and requires submission of the methodology to the General Assembly for approval.
Directs the Department of Veterans Affairs to convert, rehabilitate, or renovate vacant or underused properties to house homeless or housing-insecure veterans and authorizes associated infrastructure construction, improvement, or remediation.
Requires the state Comptroller to transfer annually any real estate conveyance tax revenue exceeding $300 million from the General Fund to the Housing Trust Fund.
Exempts affordable housing from the real estate conveyance tax, providing a full exemption for 100 percent affordable developments and a proportional exemption for mixed-income projects.
Establishes a workforce housing opportunity development program offering tax credits and fee exemptions for eligible projects located in federally designated opportunity zones, serving designated local workforce professions and very low-income households, and allows transit-oriented design and renewable energy integration; requires unit mix of 40 percent market-rate, 50 percent workforce, and 10 percent very low-income housing.
Requires property tax valuation of workforce housing opportunity developments to be based on capitalization of net income using actual restricted rents, resulting in reduced assessed value.
Provides tax credits for workforce housing development projects with up to 50 percent market-rate units and at least 40 percent workforce units, and authorizes municipalities to grant property tax exemptions of up to 70 percent of assessed value for the first seven years after construction or substantial rehabilitation.
Makes available state grants in lieu of taxes to partially reimburse municipalities for foregone property tax revenue resulting from workforce housing exemptions.
Exempts workforce housing opportunity and workforce housing development projects from local building permit application fees.
Directs the Connecticut Housing Finance Authority to create and administer mortgage assistance programs supporting construction or substantial rehabilitation of workforce housing opportunity and workforce housing development projects.
Directs the Department of Housing to study strategies to expand housing options for apprentices and newly hired employees and to enable them to live in the municipalities where they work.
Establishes a legislative leadership roundtable on affordable housing to evaluate existing state policies, conversion of state-owned and commercial properties to housing, best practices from other jurisdictions, and additional strategies to promote affordable housing development.
Provides enhanced school construction grant funding for inclusive municipalities that meet population thresholds, maintain low affordable housing shares, adopt zoning that promotes fair housing and housing diversity, streamline multifamily approvals, permit mixed-use development and accessory dwelling units, and demonstrate recent production of income-restricted affordable housing.
Includes tenant protections specific to residents of manufactured homes.