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Senate committee weighs S.328: extends down-payment assistance, debates HOA leasing and retroactivity
Summary
The Senate Committee on Economic Development, Housing & General Affairs reviewed S.328, which would extend a VHFA down‑payment assistance tax credit and add limits on homeowners association rules about leasing and family childcare homes. Members debated retroactive application and potential conflicts with affordable‑housing covenants and mortgage underwriting.
The Senate Committee on Economic Development, Housing & General Affairs on Feb. 19 reviewed S.328, an act relating to housing and common interest communities, with counsel walking members through key sections and a housing advocate urging an expansion of a down‑payment assistance program.
Cameron Wood of the Office of Legislative Counsel summarized the bill’s section 2 as an extension of the Vermont Housing Finance Agency’s authority to award tax credits that fund a down‑payment assistance program. "It would authorize them to award up to $250,000 for a down‑payment assistance program through fiscal year 2031," Wood said, noting the extension would not require an immediate state appropriation but would allow continued awards beginning fiscal year 2027.
Chad Simmons of the Housing and Homelessness Alliance of Vermont told the…
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