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Committee agrees to introduce bill increasing Affordable Housing Financing Fund sweep to $130M
Summary
The Joint Budget Committee voted 6–0 to introduce a bill to transfer funds from the Affordable Housing Financing Fund to the general fund, accepting a move to raise the transfer from $110 million to $130 million to capture the benefit while the state remains under the TABOR cap.
JBC staff presented a draft bill to transfer funds from the Affordable Housing Financing Fund to the general fund and to make related administrative adjustments. Vice Chair Bridges moved to introduce the bill and proposed increasing the transfer from $110 million to $130 million to take advantage of a year when TABOR limits are not binding.
Director Harper and legal staff explained the TABOR mechanics and timing implications: moving more money into the general fund in the current year reduces the risk that a later transfer would accomplish nothing if the state is over the TABOR cap. The committee accepted leaving the exact number open until Monday final balancing, and the motion to introduce the bill at $130 million passed 6–0.
House sponsors were identified as Brown and Taggart; Senate sponsors as Bridges and Kirkmayer. Staff noted the bill will start in the House and run with the long bill.
