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Sponsor outlines private-sector Housing Investment Trust option; committee recesses for expert testimony
Summary
Representative Gary Daniels described House Bill 633, a proposal to establish a nonprofit Housing Investment Trust to attract private capital for acquiring and rehabilitating housing; the committee recessed the hearing until April 29 to hear an expert witness.
Representative Gary Daniels, prime sponsor of House Bill 633, told the Senate Commerce Committee the bill proposes a private-sector response to New Hampshire’s housing shortage by enabling a charitable Housing Investment Trust to use private capital for property acquisition and rehabilitation.
Daniels (Hillsborough 43) described the trust as a "501(c)(3) charity" that would operate a revolving loan fund to buy and rehabilitate housing without using taxpayer funds, saying the approach "could contribute to the solution to a housing crisis, but we could do it without adding to the state budget." He asked the committee to consider restoring the bill’s original language so organizers could immediately pursue 501(c)(3) designation; the House Judiciary Committee had amended the bill to create a study committee.
Representative Joe Alexander, who said he had placed a study-committee amendment in the House Judiciary Committee, told senators he favored a true study committee because questions raised required more time to review. Senator Mcgug asked whether similar trusts exist in New Hampshire; members noted there are local land trusts, and Daniels said the committee could wait for the trust’s architect, Michael Dellefano, to testify after April 16.
The chair announced the committee would recess the hearing on HB 633 until April 29 at 9:30 a.m. to allow the architect to appear. No committee vote or final disposition was recorded in the transcript.
