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Committee advances bill to create revolving loan fund for affordable homeownership
Summary
The House Housing Committee reported Proposed Substitute House Bill 1808 out of committee with a due-pass recommendation (13-4). Sponsors said the bill would let Commerce operate a revolving low-interest loan fund for affordable owner-occupied development; members expressed support with questions about interest and eligibility definitions.
The House Housing Committee voted to report Proposed Substitute House Bill 1808 out of committee with a due-pass recommendation; the clerk announced a 13-4 tally.
Sponsor Representative Zahn said the bill would allow the Department of Commerce to establish a revolving loan fund aimed at supporting affordable homeownership. "Affordable homeownership is very important, and this would allow us to have a revolving loan fund within commerce that allows affordable, owner ownership developers…
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