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Committee unanimously backs amendments to Utah Home Investment Program to free up lending for small builders
Summary
Senators unanimously advanced SB 277 to remove a 150-basis-point cap, extend fund availability to 2029 and run a beta test to measure in-state impacts; sponsors said the changes aim to unlock capital for small and medium builders and infrastructure to enable 109,000 planned housing units.
The Senate Economic Development and Workforce Services Standing Committee unanimously passed Senate Bill 277, which amends the Utah Home Investment Program to increase flexibility for a treasurer-managed investment fund that supports housing infrastructure and small-builder lending.
Sponsor Senator Stratton said the bill removes a 150-basis-point cap that earlier constrained lenders’ willingness to participate, extends the program’s fund…
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