Colorado 2026 Regular Session Status: Enacted Bipartisan · 19 D · 5 R cosponsors

SB 40 — Affordable Home Ownership Program

Last action — Governor Signed

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 27, 2026. Enacted.

Signed by Governor Jared Polis (Democratic) on May 06, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

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Prognosis

Likely to advance 98% · high confidence

  • Enacted

    Current position in the legislative process.

  • 49 sponsors

    4 primary, 45 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (19 D · 5 R) — cross-party backing.

  • Cleared a recorded vote

    Passed 12 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

The division of housing in the department of local affairs (division) administers an affordable home ownership program (program) that makes grants to nonprofit organizations, local governments, community development financial institutions, and community land trusts (eligible organizations) and tribal governments to support affordable home ownership, including the development of residential housing units that are described in an eligible organization's funding request (project). Current law specifies that only a household with an income less than or equal to 120% of the area median income is eligible for assistance through the program, but it is unclear whether this requirement applies to housing units constructed by an eligible organization through one of its projects. The act clarifies that only a household with an income less than or equal to either 120% of the area median income of households of that size in the jurisdiction of a local government in which the households are located, or 120% of the statewide area median income of households of that size, is eligible for housing constructed by an eligible organization through one of its projects.     In addition, the act requires the program to offer housing that costs not more than 38% of a household's monthly income unless the ownership program is providing a homeowner with assistance for home rehabilitation.     The act also requires the program to offer grants and loans to groups or associations of mobile home owners and their assignees to support affordable homeownership for households with income less than or equal to 120% of the area median income of households of that size in the territory or jurisdiction of the local government in which the households are located, and specifies that the monthly housing payment must not cost more than 35% of the monthly household income. The act allows the division to modify the maximum percentage of income that a household may allocate pursuant to the program as applied to a residential unit constructed by an eligible organization as part of an affordable housing project pursuant to a waiver process initiated by an eligible organization if a substantial need for housing the project's target population exists, the unit has been adequately marketed to eligible buyers for purchase for at least 6 months after final completion of the unit, and the unit has not been purchased by an eligible buyer within that 6-month period.     For grants from the program to support tribal government programs, the tribe is responsible for establishing limitations on household income and maximum percentage of income that a household may allocate for monthly housing costs and a tribal affordability mechanism in lieu of any state-prescribed use covenant. The tribe shall submit evidence to the division that it has satisfied these requirements but is not required to disclose confidential tribal data, including the specific limitations or mechanisms it sets.     The division also administers a land banking program (land banking program) that makes grants to local and tribal governments and loans to nonprofits to acquire and preserve land for the development of affordable housing. For grants made to local governments or loans to nonprofits, the development of affordable housing includes rental housing projects with an imputed income limit by household size not to exceed 60% of area median income. Regulated units in the project must have a gross rent limit that does not exceed 30% of the imputed income limitation applicable to the units. Current law requires that a project provide for-sale housing that may be purchased by a household with an annual income of 100% of area median income. The act changes the income limit to 120% of area median income. For land banking program grants to support tribal government programs, the tribe is required to establish income limits by household size and gross rent limits and is not required to use the limits otherwise required for eligible organizations. The tribal government is required to submit evidence that it has established income and gross rent limits but is not required to disclose confidential tribal data, including what the specific limitations are.     The division may issue a waiver with housing cost limits that are different from those requested by an eligible organization if different housing cost limits would better serve needs identified in the community, the project remains financially feasible, and there are eligible buyers that meet the division's requirements. Alternatively, the division may modify the total amount of funding to account for an increase in the sales price of the unit. In lieu of this process, the division may approve an eligible organization's process for determining when to exceed the maximum monthly household income for a unit funded by the program, which shall not require a 6-month marketing period.     The division may allow an eligible organization to rent residential units constructed as part of the project. On or before December 31, 2026, the division is required to issue guidance for when units within a project may be rented and develop a process by which rented units may return to the for-sale market. A homeowner may rent a unit funded by the ownership program as long as the unit remains their primary residence.(Note: This summary applies to this bill as enacted.)

Bill Text

What changed in the latest version

297 added · 372 removed

Plain-language change summary

The amendment adds a note explaining that the bill has been prepared for the signatures of legislative officers and the Governor, instructing readers to check specific resources for updates on its status. This change is important because it enhances transparency and keeps the public informed about the progress of the bill through the legislative process.

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Second Regular Session Seventy-fifth General Assembly STATE OF COLORADO REREVISED This Version Includes All Amendments Adopted in the Second House LLS NO.
NOTE:
26-0622.01 Jed Franklin x5484 SENATE BILL 26-040 SENATE SPONSORSHIP Simpson and Amabile, Ball, Benavidez, Bridges, Catlin, Coleman, Cutter, Daugherty, Exum,Frizell,GonzalesJ.,Jodeh,Kipp,Kirkmeyer,Kolker,Lindstedt,Marchman,Mullica, Pelton R., Roberts, Snyder, Wallace, Weissman HOUSE SPONSORSHIP Stewart K.
This bill has been prepared for the signatures of the appropriate legislative officers and the Governor.
and Smith, Bacon, Boesenecker, Brown, Carter, Clifford, Duran, English, Froelich, Jackson, Joseph, Lieder, Lindsay, Lukens, McCluskie, McCormick, Nguyen, Paschal, Phillips, Ricks, Rutinel, Rydin, Stewart R.
To determine whether the Governor has signed the bill or taken other action on it, please consult the legislative status sheet, the legislative history, or the Session Laws.
g i a 2 E R 2 U r 1 O 3 l H e p Senate Committees House Committees n A Local Government & Housing Transportation, Housing & Local Government e A g A BILL FOR AN ACT d 2 E a 2 C ONCERNING THE AFFORDABLE HOME OWNERSHIP PROGRAM .
SENATE BILL 26-040 BYSENATOR(S)SimpsonandAmabile,Ball,Benavidez,Bridges,Catlin, Cutter, Daugherty, Exum, Frizell, Gonzales J., Jodeh, Kipp, Kirkmeyer, Kolker, Lindstedt, Marchman, Mullica, Pelton R., Roberts, Snyder, Sullivan, Wallace, Weissman, Coleman;
S R 0 O d 2l H 2 r e A Bill Summary n e A (Note:
also REPRESENTATIVE(S) Stewart K.
This summary applies to this bill as introduced and does notreflectanyamendmentsthatmaybesubsequentlyadopted.Ifthisbill passes third reading in the house of introduction, a bill summary that d applies to the reengrossed version of this bill will be available at d e 2 http://leg.colorado.gov.) E a 2 A U 1 N n h The division of housing in the department of local affairs S a r (division)administersanaffordablehomeownershipprogram(program) e a r M that makes grants to nonprofit organizations, local governments, tribal 3 governments, community development financial institutions, and communitylandtrusts(eligibleorganizations)tosupportaffordablehome ownership,includingthedevelopmentofresidentialhousingunitsthatare n d 6 described in an eligible organization's funding request (project).
and Smith, Bacon, Boesenecker, Brown,Carter,Clifford,Duran,English,Froelich,Jackson,Joseph,Lieder, Lindsay, Lukens, McCormick, Nguyen, Paschal, Phillips, Ricks, Rutinel, Rydin, Stewart R., McCluskie.
Current e 2 law specifies that only a household with an income less than or equal to E R 2 A n 0 E 2 h Shading denotes HOUSE amendment.
CONCERNING THE AFFORDABLE HOME OWNERSHIP PROGRAM .
Double underlining denotes SENATE amendment.
S e r Capital letters or bold & italic numbers indicate new material to be added to existing law.n M Dashes through the words or numbers indicate deletions from existing law.
m A 120% of the area median income is eligible for assistance through the program, but it is unclear whether this requirement applies to housing units constructed by an eligible organization through one of its projects.
The bill clarifies that onlya household with an income less than or equal to 120% of the statewide area median income is eligible for housing constructed by an eligible organization through one of its projects.
Inaddition,theprogramrequiresthathousingofferedthroughthe program, including all taxes and fees, costs not more than 35% of a household's monthly income.
The bill allows the division to modify this percentage as applied to a residential unit constructed by an eligible organizationaspartofanaffordablehousingprojectpursuanttoawaiver process initiated by an eligible organization if a substantial need for housingtheproject'stargetpopulationexists,theunithasbeenadequately marketed to eligible buyers for purchase for at least 6 months after the issuance of a certificate of occupancy, and the unit has not been purchased byan eligible buyer within that 6-month period.
In lieu of this process, the division may approve an eligible organization's process for determiningwhentoexceedthemaximummonthlyhouseholdincomefor a unit funded by the program.
Thedivisionmayissueawaiverwithadifferenthousingcostlimit from the limit requested by the eligible organization if a different limit would better serve needs identified in a housing assessment and the project remains financially feasible in the division's discretion.
For an eligible organization, the bill specifies that the division is required to accept a local affordability mechanism in lieu of any state-prescribed use covenant if the division determines that the local affordability mechanism allows the state to maintain its obligations for complianceandcompliancemonitoringandissubstantiallyequivalentto ormoreprotectiveoflong-termaffordabilityandprimaryoccupancythan a state-prescribed use covenant or the local affordability mechanism is necessary to access financing for disproportionately impacted communities.
Thedivisionmayallowaneligibleorganizationtorentresidential unitsconstructedaspartof theproject.OnorbeforeDecember 31, 2026, the division is required to issue guidance for when units within a project may be rented.
Transfers of money - permitted uses of the fund - -2- 040 continuous appropriation.
Transfers of money - permitted uses of the fund - continuous appropriation.
(1) (a) The affordable housing support fund is hereby created in the state treasury.
(1) (a) The affordable housing support fund is herebycreated in the state treasury.
The division of housing shall administer the support fund and expend the money in the support fund only for the purposes set forth in section 29-32-104 (3)(a) and (3)(b).
The division of housing shall Capital letters or bold & italic numbers indicate new material added to existing law;
The division of local government in the department of local affairscreatedinsection24-32-103shallexpendthemoneyinthesupport fund only for the purposes set forth in section 29-32-104 (3)(c).
dashes through words or numbers indicate deletions from existing law and such material is not part of the act.
Except as otherwise provided in subsection (1)(b) of this section, all money not expended or encumbered, and all interest earned on the investment or deposit of money in the support fund, remains in the support fund and does not revert to the general fund or any other fund at the end of any fiscal year.
administerthesupportfundandexpendthemoneyinthesupportfundonly for the purposes set forth in section 29-32-104 (3)(a) and (3)(b).
Except as otherwise providedinsubsections(1)(b)and(1)(c) of this section and section 29-32-104 (3)(b)(II), all money transferred to thesupportfundpursuanttosubsection(3)ofthissectioniscontinuously appropriated to the division of housing for the purposes set forth in section 29-32-104 (3)(a) and (3)(b) and, to the extent allocated by the division of housing, to the division of local government for the purposes set forth in section 29-32-104 (3)(c).
The division of local government in the department of local affairs created in section 24-32-103 shall expend the money in the support fund only for the purposessetforthinsection29-32-104(3)(c).Exceptasotherwiseprovided insubsection(1)(b)ofthissection,allmoneynotexpendedorencumbered, andallinterestearnedontheinvestmentordepositof moneyin thesupport fund, remains in the support fund and does not revert tothe general fund or any other fund at the end of any fiscal year.
Except as otherwise provided in subsections (1)(b) and (1)(c) of this section and section 29-32-104 (3)(b)(II), all moneytransferred to the support fund pursuant to subsection (3)ofthissectioniscontinuouslyappropriatedtothedivisionofhousingfor the purposes set forth in section 29-32-104 (3)(a) and (3)(b) and, to the extent allocated by the division of housing, to the division of local government for the purposes set forth in section 29-32-104 (3)(c).
In Colorado Revised Statutes, 29-32-104, amend (1)(a) and3)(a) as follows:
In Colorado Revised Statutes, 29-32-104, amend (1)(a) and (3)(a) as follows:
The office may select an administrator without a competitive procurement process but shall announce the contract opening publicly and select the -3- 040 administrator in a meeting that is open to the public, no less than seventy-two hours after notice of such meeting is publicly available.
The office may selectanadministratorwithoutacompetitiveprocurementprocessbutshall announce the contract opening publicly and select the administrator in a meeting that is open to the public, no less than seventy-two hours after noticeofsuchmeetingispubliclyavailable.Nosinglecontractmayexceed five years in duration.
No single contract mayexceedfiveyearsinduration.Upon the expiration of any contract term, the office may renew the contract with the same administrator or may select another administrator.
Upon the expiration of any contract term, the office may renew the contract with the same administrator or may select another administrator.
The administrator selectedbytheofficeshallexpendthemoneytransferredtothefinancing fund in section 29-32-103 (2) that the administrator receives from the office to support the following programs only:
The administrator selected by the office shall expend the money transferred to the financing fund in section 29-32-103 (2) that the administrator receives from the office to support the following programs only:
(a) (I) A land banking program to be administered by the administrator.Theprogramshallprovidegrantstolocalgovernmentsnd tribal governments and loans to non-profit organizations with a demonstrated history of providing affordable housing to acquire and preservelandforthedevelopmentofaffordablehousing.Forpurposesof thissubsection(1)(a),"affordablehousing"meansrentalhousingthathas a designated imputed income limit byhousehold size not to exceed sixty percent of the area median income as established by the United States Department of Housing and Urban Development and published by the department or a statewide political subdivision or authority on housing, and regulated units in the project must have a gross rent limit that does not exceed thirty percent of the imputed income limitation applicable to the units and for-sale housing that could be purchased by a household withanannualincomeofatorbelowonehundred TWENTY percentofthe area median income.
(a) (I) A land banking program to be administered by the administrator.
The program shall provide grants to local governments and tribal governments and loans to non-profit organizations with a demonstrated history of providing affordable housing to acquire and preserve land for the development of affordable housing.
For purposes of this subsection (1)(a), "affordable housing" means rental housing that has PAGE 2-SENATE BILL 26-040 a designated imputed income limit by household size not to exceed sixty percent of the area median income as established by the United States Department of Housing and Urban Development and published by the departmentorastatewidepoliticalsubdivisionorauthorityonhousing,and regulated units in the project must have a gross rent limit that does not exceed thirty percent of the imputed income limitation applicable to the units and for-sale housing that could be purchased by a household with an annual income of at or below one hundred TWENTY percent of the area median income.
Loans made bythe program shall be forgiven if land acquired with the assistance of the program is properly zoned with an active plan for the development of affordable housing within 5 years of -4- 040 date the loan is made and if the development is permitted and funded within 10 years.
Loans made by the program shall be forgiven if land acquiredwiththeassistanceoftheprogramisproperlyzonedwithanactive plan for the development of affordable housing within 5 years of date the loan is made and if the development is permitted and funded within 10 years.Thelenderandborrowermayestablishadditionalterms if needed.
The lender and borrower mayestablish additional terms if needed.
If landacquiredwiththeassistanceoftheprogramisnotdevelopedwithinthe timeline above, the loan must be repaid, with interest, as soon as practical, but not more than six months after expiration of said timeline, unless the office agrees to extend all or a portion of the timeline in its reasonable discretion.
If land acquired with the assistance of the program is not developed within the timeline above, the loan must be repaid, with interest, as soon as practical, but not more than six months after expiration of said timeline, unless the office agrees to extend all or a portionofthetimelineinitsreasonablediscretion.Landacquiredwiththe assistance of theprogramthatisnotdevelopedwithin the timeline above maybeusedbytheownerforanypurposeuponpaymentof theloanwith interest or, in exchange for a waiver of interest, conveyed to a state agencyorotherentityforthedevelopmentofaffordablehousingwiththe approval of the administrator.
Land acquired with the assistance of the program that is not developed within the timeline above may be used by the owner for any purposeuponpaymentoftheloanwithinterestor,inexchangeforawaiver of interest, conveyed to a state agency or other entity for the development of affordable housing with the approval of the administrator.
All principal and interest payments on loans made under this paragraph (a)ECTION (1)(a) shall be paid to the administrator and used bythe administrator for the purposes set forth in this subsection (1).
All principal and interest payments on loans made under this paragraph (a)UBSECTION (1)(a) shall be paid to the administrator and used by the administrator for the purposes set forth in this subsection (1).
Asdetermined bythe administrator, a minimumof 15% and a maximumof 25% of monies transferred to the financing fund annuallymaybe used for the program.
As determined by the administrator, a minimum of 15% and a maximum of 25% of monies transferredtothefinancingfundannuallymaybeusedfortheprogram.The administrator may utilize the funds it receives from the office for the program to pay for the costs of administering the program;
The administrator mayutilize the funds it receives from the office for the program to pay for the costs of administering the program;
except that the total combined annual administrative expenditures of money from the financing fund by the administrator and the office shall not exceed two percent of the funds the administrator receives from the office for the program for the state fiscal year.
except that the total combined annual administrative expenditures of money from the financing fund by the administrator andtheofficeshallnotexceedtwopercentof the funds the administrator receives from the office for the programfor the state fiscal year.
(II) FOR LAND BANKING PROGRAM GRANTS TO SUPPORT TRIBAL GOVERNMENT PROGRAMS ,THE TRIBE SHALL ESTABLISH INCOME LIMITS BY HOUSEHOLD SIZE AND GROSS RENT LIMITS REQUIRED BY SUBSECTION (1)(a)(I)OF THIS SECTION .
(II) OR LAND BANKING PROGRAM GRANTS TO SUPPORT TRIBAL GOVERNMENTPROGRAMS ,THETRIBESHALLESTABLISHINCOMELIMITSBY HOUSEHOLD SIZE AND GROSS RENT LIMITS REQUIRED BY SUBSECTION (1)(a)(IOF THIS SECTION.
THE TRIBAL GOVERNMENT SHALL SUBMIT PAGE 3-SENATE BILL 26-040 EVIDENCE TO THE OFFICE OR ADMINISTRATOR THAT IT HAS SATISFIED THE REQUIREMENTS OF THIS SUBSECTION (1)(a)(IIINCLUDING BY PROVIDING GENERAL INFORMATION ABOUT THE PROCESS IT USED TO ESTABLISH THESE LIMITATIONS, BUT SHALL NOT BE REQUIRED TO DISCLOSE CONFIDENTIAL TRIBAL DATA ,INCLUDING THE SPECIFIC LIMITATIONS IT SETS PURSUANT TO THIS SUBSECTION (1)(a)(II).
HE TRIBAL GOVERNMENT SHALL SUBMIT -5- 040 EVIDENCE TO THE OFFICE OR ADMINISTRATORTHAT IT HAS SATISFIEDTHE REQUIREMENTSOFTHISSUBSECTION (1)(a)(IIINCLUDINGBYPROVIDING GENERALINFORMATIONABOUTTHEPROCESSITUSEDTOESTABLISHTHESE LIMITATIONS,BUT SHALL NOT BE REQUIRED TO DISCLOSE CONFIDENTIAL TRIBALDATA ,INCLUDINGTHESPECIFICLIMITATIONSITSETSPURSUANTTO THIS SUBSECTION (1)(a)(II).
(3) The division of housing and the division of local government shallexpendthemoneytransferredtothesupportfundinsection29-32-103 (1) to support the following programs only:
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(3) The division of housing and the division of local government shall expend the money transferred to the support fund in section 29-32-103 (1) to support the following programs only:
(a) (I) An affordable home ownership program administered bythe divisionoroneormorecontractorsofthedivision.Theprogramshalloffer home ownership down-payment assistance to first-time homebuyers and shall prioritize assistance, to the extent practicable, to first-generation homebuyers.
(a) (I) An affordable home ownership program administered by thedivisionoroneormorecontractorsofthedivision.Theprogramshall offerhomeownershipdown-paymentassistancetofirst-timehomebuyers andshallprioritizeassistance,totheextentpracticable,tofirst-generation homebuyers.Theassistanceshallbeprovidedtohouseholdswithincome less than or equal to one hundred twenty percent of the area median income of households of that size in the territory or jurisdiction of local government or tribal government in which the housing is located, as calculatedandpublishedforagivenyearbytheUnitedStatesdepartment of housing and urban development, and the cost of the monthly housing payment toward mortgage principal, mortgage interest, property taxes, mortgageandhomeowner'sinsurance,homeownerassociationfees,land lease fees, and metropolitan district fees shallt cost more than thirty-fiTHIRTY EIGHT percentofmonthlyhouseholdincome.INCOME ;
The assistance shall be provided to households with income lessthanorequaltoonehundredtwentypercentoftheareamedianincome ofhouseholdsofthatsizeintheterritoryorjurisdictionoflocalgovernment or tribal governmentin which the housing is located, as calculated and published for a given year by the United States department of housing and urban development, and the cost of the monthly housing payment toward mortgage principal, mortgage interest, property taxes, mortgage and homeowner's insurance, homeowner association fees, land lease fees, and metropolitan district fees shallST not cost more than thirty-five THIRTY-EIGHT percentofmonthlyhouseholdincome.
EXCEPT THAT THE COST OF THE MONTHLY HOUSING PAYMENT MUST NOT BE CONSIDERED WHEN PROVIDING HOMEOWNERS WITH ASSISTANCE FOR HOME REHABILITATION .
INCOME ;EXCEPTTHAT THE COST OF THE MONTHLY HOUSING PAYMENT MUST NOT BE CONSIDERED WHEN PROVIDING HOMEOWNERS WITH ASSISTANCE FOR HOME REHABILITATION .
The program shall also make grants to nonprofit organizations, local governments, tribal governments, -6- 040 communitydevelopmentfinancialinstitutions,andcommunitylandtrusts to support affordable home ownership HOUSEHOLDS WITH INCOME LESS THAN OR EQUALTO EITHER ONE HUNDRED TWENTY PERCENT OF THE AREA MEDIAN INCOME OF HOUSEHOLDS OF THAT SIZE IN THE TERRITORY ORJURISDICTIONOFALOCALGOVERNMENT INWHICHTHEHOUSEHOLDS ARE LOCATED ,OR ONE HUNDRED TWENTY PERCENT OF THE STATEWIDE AREA MEDIAN INCOME OF HOUSEHOLDS OF THAT SIZE,AS CALCULATED ANDPUBLISHEDFOR A GIVEN YEARBYTHE U NITEDSTATES DEPARTMENT OFHOUSINGANDURBANDEVELOPMENT ,ANDTHECOST OFTHE MONTHLY HOUSINGPAYMENTTOWARDMORTGAGEPRINCIPAL ,MORTGAGEINTEREST , PROPERTY TAXES, MORTGAGE AND HOMEOWNER S INSURANCE , HOMEOWNERS 'ASSOCIATIONFEES,LANDLEASEFEES ANDMETROPOLITAN DISTRICT FEES MUST NOT COST MORE THAN THIRTY FIVE PERCENT OF MONTHLY HOUSEHOLD INCOME .
The program shall also make grants to nonprofit organizations, local governments, tribal governments, community development financial institutions, and community land trusts to support affordable home ownershipFOR HOUSEHOLDS WITH INCOME LESS THAN OR EQUAL TO EITHER ONE HUNDRED TWENTY PERCENT OF THE AREA MEDIAN INCOME OF HOUSEHOLDS OF THAT SIZE IN THE TERRITORY OR JURISDICTION OF A LOCAL GOVERNMENT IN WHICH THE HOUSEHOLDS ARE LOCATED ,OR ONE HUNDREDTWENTYPERCENT OFTHE STATEWIDE AREAMEDIANINCOME OFHOUSEHOLDSOFTHATSIZE ASCALCULATEDANDPUBLISHEDFORAGIVEN YEAR BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT , AND THE COST OF THE MONTHLY HOUSING PAYMENT TOWARD MORTGAGE PRINCIPAL ,MORTGAGE INTEREST ,PROPERTY TAXES , MORTGAGE AND HOMEOWNER S INSURANCE ,HOMEOWNERS 'ASSOCIATION PAGE 4-SENATE BILL 26-040 FEES,LANDLEASEFEES ,ANDMETROPOLITANDISTRICTFEESMUSTNOTCOST MORE THAN THIRTY -FIVE PERCENT OF MONTHLY HOUSEHOLD INCOME .
HE AREA MEDIAN INCOME ELECTION DESCRIBED IN THIS SUBSECTION (3)(a)(IMUST BE MADE AT THE BEGINNING OFTHE ASSISTANCE AGREEMENT AND MUST NOT BE REVOKED OR CHANGED UNTIL THE END OF THE ASSISTANCE AGREEMENT .
HE AREA MEDIAN INCOME ELECTION DESCRIBED IN THIS SUBSECTION (3)(a)(I) MUST BE MADE AT THE BEGINNING OF THE ASSISTANCE AGREEMENT AND MUST NOT BE REVOKED OR CHANGED UNTIL THE END OF THE ASSISTANCE AGREEMENT .
The program shall also make grants or loans to groups or associations of mobile homeownersandtheirassigneesto assist themwith the purchase of a mobile home park pursuant to section 38-12-217.
The program shall also make grants or loans to groups or associationsof mobilehomeownersandtheirassigneestoassistthemwith the purchase of a mobile home park pursuant to section 38-12-217.
Said grants and loansshallbeusedtosupportaffordablehomeownershipforhouseholds withincomelessthanorequaltoonehundred TWENTY percentofthearea median income of households of that size in the territory or jurisdiction of local governmentr tribal government in which the households are located,as calculated and published for a given year bytheUnitedStates department of housing and urban development, and the cost of the monthlyhousing payment toward mortgage principal, mortgage interest, -7- 040 property taxes, mortgage and homeowner's insurance, homeowner associationfees,landleasefees,andmetropolitandistrictfeesshall not cost more than thirty-five percent of monthlyhousehold income.
Said grants and loans shall be used to support affordable home ownership for householdswithincome less than or equal to one hundredTWENTY percent of the area median income of households of that size in the territory or jurisdiction of local government or tribal government in which the households are located, as calculated and published for a given year bythe United States department of housing and urban development, and the cost of the monthly housing payment toward mortgage principal, mortgage interest,propertytaxes,mortgageandhomeowner'sinsurance,homeowner MUST association fees, land lease fees, and metropolitan district fees shall not cost more than thirty-five percent of monthly household income.
Up to fifty percent of money transferredtothesupportfundannuallymaybeusedfortheprogram.The division shall determine how much of the available funding shall be allocated to each aspect of the program.
Up to fifty percent of money transferred to the support fund annually may be used for the program.
The division shall determine how much of the available funding shall be allocated to each aspect of the program.
(II) FR PROJECTS UNDERTAKEN BY AN ELIGIBLE ORGANIZATIO, AS DEFINED IN SECTIO29-32-105.7 (2)(THE DIVISION MAY INCREASE OR WAIVE THE MAXIMUM PERCENTAGE OF INCOME THAT A HOUSEHOLD MAY ALLOCATE FOR MONTHLY HOUSING COSTSOTHERWISE REQUIRED BY SUBSECTION (3)(a)(IOF THIS SECTION PURSUANT TO THE PROCESS SET FORTHINSECTION 29-32-105.7.FAWAIVERISGRANTED THEDIVISIONIS AUTHORIZEDTOAMENDEXISTINGCONTRACTSENTEREDINTOAFTER JULY 1, 2026,EVEN IF THE PROJECT WAS ORIGINALLY AWARDED UNDER A SOLICITATION ISSUED PRIOR JULY 1, 2026.
(II) FRPROJECTSUNDERTAKENBYANELIGIBLEORGANIZATION AS DEFINED IN SECTION 29-32-105.7 (2)(a),THE DIVISION MAY INCREASE OR WAIVE THE MAXIMUM PERCENTAGE OF INCOME THAT A HOUSEHOLD MAY ALLOCATE FOR MONTHLY HOUSING COSTS OTHERWISE REQUIRED BY SUBSECTION (3)(a)(IOF THIS SECTION PURSUANT TO THE PROCESS SET FORTH IN SECTION 29-32-105.7.
(III) OR GRANTS TO SUPPORT TRIBAL GOVERNMENT PROGRAMS , THE TRIBE SHALL ESTABLISH LIMITATIONS ON HOUSEHOLD INCOME AND MAXIMUM PERCENTAGE OF INCOME THAT A HOUSEHOLD MAY ALLOCATE FORMONTHLYHOUSINGCOSTSREQUIREDBYSUBSECTION (3)(a)(OFTHIS SECTION ANDSHALLESTABLISHATRIBALAFFORDABILITYMECHANISMIN LIEU OF ANY STATE-PRESCRIBED USE COVENANT .
F A WAIVER IS GRANTED ,THE DIVISION IS AUTHORIZEDTOAMENDEXISTINGCONTRACTSENTEREDINTOAFTER JULY 1, 2026, EVEN IF THE PROJECT WAS ORIGINALLY AWARDED UNDER A SOLICITATION ISSUED PRIOR TO JULY 1, 2026.
THE TRIBAL GOVERNMENT SHALL SUBMIT EVIDENCE TO THE DIVISION THAT IT HAS -8- 040 SATISFIEDTHEREQUIREMENTSOFTHISSUBSECTION (3)(a)(IIINCLUDING BY PROVIDING GENERAL INFORMATION ABOUT THE PROCESS IT USED TO ESTABLISH THESE LIMITATIONS AND MECHANISMS BUT IS NOT REQUIRED TO DISCLOSE CONFIDENTIAL TRIBAL DATA , INCLUDING THE SPECIFIC LIMITATIONS OR MECHANISMS IT SETS UNDER THIS SUBSECTI.
(III) FOR GRANTS TO SUPPORT TRIBAL GOVERNMENT PROGRAMS , THE TRIBE SHALL ESTABLISH LIMITATIONS ON HOUSEHOLD INCOME AND MAXIMUMPERCENTAGEOFINCOMETHATAHOUSEHOLDMAYALLOCATEFOR PAGE 5-SENATE BILL 26-040 MONTHLY HOUSING COSTS REQUIRED BY SUBSECTION (3)(a)(IOF THIS SECTION AND SHALL ESTABLISH A TRIBAL AFFORDABILITY MECHANISM IN LIEUOFANYSTATE -PRESCRIBEDUSECOVENANT .T HETRIBALGOVERNMENT SHALL SUBMIT EVIDENCE TO THE DIVISION THAT IT HAS SATISFIED THE REQUIREMENTS OF THIS SUBSECTION (3)(a)(IIINCLUDING BY PROVIDING GENERAL INFORMATION ABOUT THE PROCESS IT USED TO ESTABLISH THESE LIMITATIONS AND MECHANISMS BUT IS NOT REQUIRED TO DISCLOSE CONFIDENTIAL TRIBAL DATA , INCLUDING THE SPECIFIC LIMITATIONS OR MECHANISMS IT SETS UNDER THIS SUBSECTION .
NLESS OTHERWISE AUTHORIZED BY LAW ,THE DIVISION OF HOUSING AND THE DIVISION OF LOCAL GOVERNMENT SHALL ADMINISTER AND EXPEND FUNDING TO TRIBAL GOVERNMENTS UNDER THIS SECTION ONLY FOR THE PURPOSES SET FORTH IN SECTION29-32-104 (3)(a), (3)OR)(3)(c).
UNLESS OTHERWISE AUTHORIZEDBYLAW ,THEDIVISIONOFHOUSINGANDTHEDIVISIONOFLOCAL GOVERNMENT SHALL ADMINISTER AND EXPEND FUNDING TO TRIBAL GOVERNMENTSUNDERTHISSECTIONONLYFORTHEPURPOSESSETFORTHIN SECTIONS 29-32-104 (3)(a), (3)OR)(3)(c).
(1) (a) TE GENERAL ASSEMBLY FINDS AND DECLARES THAT:
(1) (a) TE GENERAL ASSEMBLY FINDS AND DECLARES THAT :
(I) PROPOSITION 123,APPROVED BY A MAJORITY OF ELIGIBLE ELECTORS DURING THE NOVEMBER 2022 GENERAL ELECTION ,WAS INTENDED TO REACH ALL COMMUNITIES IN THE STAT;
(I) P ROPOSITION 123,APPROVED BY A MAJORITY OF ELIGIBLE ELECTORSDURINGTHE N OVEMBER 2022 GENERALELECTION ,WASINTENDED TO REACH ALL COMMUNITIES IN THE STATE;
(II) AFORDABLE HOME OWNERSHIPOPPORTUNITIESARE LIMITED BY CHANGING ECONOMIC CONDITIONS THROUGHOUT THE STATE ;
(II) AFORDABLEHOMEOWNERSHIPOPPORTUNITIESARELIMITEDBY CHANGING ECONOMIC CONDITIONS THROUGHOUT THE STATE ;
(III) TE FUNDING PROVIDED PURSUANT TO PROPOSITION 123 SHOULD BE ALLOCATED TO BUILDING HOUSING THAT WOULD NOT OTHERWISE BE BUILT WITHOUT FINANCIAL ASSISTANC;AND (IV) STATUTORY RESTRICTIONS ON ELIGIBILITY FOR ASSISTANCE USING PROPOSITION 123 FUNDING, INCLUDING LIMITATIONS ON HOUSEHOLD INCOME AND MAXIMUM ALLOWABLE MONTHLY HOUSING COSTS, COUPLED WITH INCREASED INTEREST RATES,LAND COSTS, AND BUILDINGMATERIALCOSTS ,AREPREVENTINGTHEPROPOSITION 123HOME -9- 040 OWNERSHIP PROGRAM FROM BEING USED IN SOME COMMUNITIES .
(III) THE FUNDING PROVIDED PURSUANT TO PROPOSITION 123 SHOULDBEALLOCATEDTOBUILDINGHOUSINGTHATWOULDNOTOTHERWISE BE BUILT WITHOUT FINANCIAL ASSISTANCE;AND (IV) STATUTORY RESTRICTIONS ON ELIGIBILITY FOR ASSISTANCE USINGPROPOSITION 123 FUNDING,INCLUDINGLIMITATIONSONHOUSEHOLD INCOME AND MAXIMUM ALLOWABLE MONTHLY HOUSING COSTS ,COUPLED WITH INCREASED INTEREST RATES,LAND COSTS ,AND BUILDING MATERIAL COSTS,AREPREVENTINGTHEPROPOSITION 123 HOMEOWNERSHIPPROGRAM FROM BEING USED IN SOME COMMUNITIES.
(b) THEGENERALASSEMBLYFURTHERFINDSANDDECLARESTHAT IT IS THE GENERAL ASSEMBLYS INTENT THAT THE WAIVER PROCESS SET FORTH IN THIS SECTION WILL ALLOW THE DIVISION MORE FLEXIBILITY TO ALLOCATE FUNDING FOR AFFORDABLE HOME OWNERSHIP PROJECTS IN COMMUNITIES ACROSS THE STATE .
PAGE 6-SENATE BILL 26-040 (b) THE GENERAL ASSEMBLY FURTHER FINDS AND DECLARES THAT IT IS THE GENERAL ASSEMBLY 'S INTENT THAT THE WAIVER PROCESS SET FORTH IN THIS SECTION WILL ALLOW THE DIVISION MORE FLEXIBILITY TO ALLOCATE FUNDING FOR AFFORDABLE HOME OWNERSHIP PROJECTS IN COMMUNITIES ACROSS THE STATE .
(2) AS USED IN THIS SECTIO,UNLESS THE CONTEXT OTHERWISE REQUIRES :
(2) A S USED IN THIS SECTION,UNLESS THE CONTEXT OTHERWISE REQUIRES :
(a) "ELIGIBLE ORGANIZATION " MEANS A NON -PROFIT ORGANIZATION , LOCAL GOVERNMENT , COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION OR COMMUNITY LAND TRUST THAT IS ELIGIBLE FOR FUNDING PURSUANT TO SECTION 29-32-104 (3)(a).
(a) "ELIGIBLEORGANIZATION "MEANSANON -PROFITORGANIZATION , LOCAL GOVERNMENT ,COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION OR COMMUNITY LAND TRUST THAT IS ELIGIBLE FOR FUNDING PURSUANT TO SECTION 29-32-104 (3)(a).
(b) "PROJECT"MEANSARESIDENTIALHOUSINGUNITORGROUPOF UNITS DESCRIBED WITHIN AN ELIGIBLE ORGANIZATION S REQUEST FOR FUNDING PURSUANT TO SECTION 29-32-104 (3)(a)(I).
(b) "PROJECT "MEANS A RESIDENTIAL HOUSING UNIT OR GROUP OF UNITS DESCRIBED WITHIN AN ELIGIBLE ORGANIZATION S REQUEST FOR FUNDING PURSUANT TO SECTION 29-32-104 (3)(a)(I).
(3) NOTWITHSTANDINGTHEPROVISIONSOFSECTION 29-32-104 (3)(a),AN ORGANIZATION THAT WAS AWARDED MONEY FOR AN AFFORDABLE HOME OWNERSHIP PROJECT PURSUANT TO SECTION 29-32-104 (3)(aAND THAT CONSTRUCTED A RESIDENTIAL UNIT AS PART OF THE PROJECT THAT HAS NOT BEEN PURCHASED WITHIN SIX MONTHS OF THEISSUANCEOFACERTIFICATEOFOCCUPANCY MAYSUBMITAREQUEST TO THE DIVISION FOR A WAIVER OF THE MAXIMUM MONTHLY HOUSING COST LIMIT FOR THAT RESIDENTIAL UN.T (b) THEDIVISIONMAYAPPROVEAWAIVERREQUESTIFANELIGIBLE ORGANIZATIONAWARDEDMONEYFORANAFFORDABLEHOMEOWNERSHIP PROGRAM PURSUANT TO SECTION 29-32-104 (3)(aESTABLISHES THAT:
(3) N OTWITHSTANDING THE PROVISIONS OF SECTION 29-32-104 (3)(a),NORGANIZATIONTHATWASAWARDEDMONEYFORANAFFORDABLE HOME OWNERSHIP PROJECT PURSUANT TO SECTION 29-32-104 (3)(a)AND THATCONSTRUCTEDARESIDENTIALUNITASPARTOFTHEPROJECTTHATHAS NOT BEEN PURCHASED WITHIN SIX MONTHS OF THE ISSUANCE OF A CERTIFICATEOFOCCUPANCY ,MAYSUBMIT AREQUESTTOTHEDIVISIONFOR A WAIVER OF THE MAXIMUM MONTHLY HOUSING COST LIMIT FOR THAT RESIDENTIAL UNIT.
-10- 040 (I) A SUBSTANTIAL NEED FOR HOUSING THE PROJECT S TARGET POPULATION EXISTS;AND (II) THE UNIT HAS BEEN ADEQUATELY MARKETED TO ELIGIBLE BUYERS FOR PURCHASE FOR AT LEAST SIX MONTHS AFTER FINAL COMPLETION OF THE UNIT,AND THE UNIT HAS NOT BEEN PURCHASED BY AN ELIGIBLE BUYER WITHIN THAT SIMONTH PERIOD .
(b) THE DIVISION MAY APPROVE A WAIVER REQUEST IF AN ELIGIBLE ORGANIZATION AWARDED MONEY FOR AN AFFORDABLE HOME OWNERSHIP PROGRAM PURSUANT TO SECTION 29-32-104 (3)(aESTABLISHES THAT :
(I) A SUBSTANTIAL NEED FOR HOUSING THE PROJECT 'S TARGET POPULATION EXISTS ;AND (II) THE UNIT HAS BEEN ADEQUATELY MARKETED TO ELIGIBLE BUYERSFORPURCHASEFORATLEASTSIXMONTHSAFTERFINALCOMPLETION OF THE UNIT, AND THE UNIT HAS NOT BEEN PURCHASED BY AN ELIGIBLE BUYER WITHIN THAT SIX-MONTH PERIOD .
(I) SSUE A WAIVER WITH HOUSING COST LIMITS THAT ARE DIFFERENT FROM THOSE REQUESTED BY THE ELIGIBLE ORGANIZATION IN THEWAIVERREQUESTIFDIFFERENTHOUSINGCOSTLIMITSWOULDBETTER SERVE NEEDS IDENTIFIED IN THE COMMUNITY , THE PROJECT REMAINS FINANCIALLY FEASIBLE IN THE DIVISIOS DISCRETION,AND THERE ARE ELIGIBLE BUYERS THAT MEET THE PARAMETERS SET BY THE DIVISION PURSUANT TO THIS SUBSECTION (3)(c)(IOR (II) M ODIFY THE TOTAL AMOUNT OF FUNDING PROVIDED PURSUANTTOSECTION 29-32-104(3)(aTOACCOUNTFORANINCREASEIN THE SALE PRICE OF THE UN.T (4) ILIEUOFTHEPROCESSDESCRIBEDINSUBSECTION (3)OFTHIS SECTION, THE DIVISION MAY APPROVE AN ELIGIBLE ORGANIZATION 'S PROCESS FOR DETERMINING WHEN TO EXCEED THE MAXIMUM MONTHLY HOUSEHOLD INCOME FOR A UNIT FUNDED PURSUANT TO SECTION 29-32-104 (3)(a).
PAGE 7-SENATE BILL 26-040 (I) SSUEAWAIVERWITHHOUSINGCOSTLIMITSTHATAREDIFFERENT FROM THOSE REQUESTED BY THE ELIGIBLE ORGANIZATION IN THE WAIVER REQUEST IF DIFFERENT HOUSING COST LIMITS WOULD BETTER SERVE NEEDS IDENTIFIED IN THE COMMUNITY ,THE PROJECT REMAINS FINANCIALLY FEASIBLE IN THE DIVISIONS DISCRETION,AND THERE ARE ELIGIBLE BUYERS THAT MEET THE PARAMETERS SET BY THE DIVISION PURSUANT TO THIS SUBSECTION (3)(c)(IOR (II) MODIFY THE TOTALAMOUNT OFFUNDING PROVIDED PURSUANT TO SECTION 29-32-104 (3)(a)TO ACCOUNT FOR AN INCREASE IN THE SALE PRICE OF THE UNIT.
A ELIGIBLE ORGANIZATION S PROCESS APPROVED UNDER THIS SUBSECTION (4) SHALL NOT REQUIRE A SIX MONTH MARKETING PERIOD .
(4) IN LIEU OF THE PROCESS DESCRIBED IN SUBSECTION (3) OF THIS SECTION , THE DIVISION MAY APPROVE AN ELIGIBLE ORGANIZATION S PROCESS FOR DETERMINING WHEN TO EXCEED THE MAXIMUM MONTHLY HOUSEHOLDINCOME FORAUNIT FUNDEDPURSUANT TO SECTION 29-32-104 (3)(a).
(5) (a) OR PROJECTS FUNDED PURSUANT TO SECTION 29-32-104 -11- 040 (3)(a)AN ELIGIBLE ORGANIZATION MAY REQUEST THAT THE DIVISION ALLOW IT TO RENT RESIDENTIAL UNITS CONSTRUCTED AS PART OF THE PROJECT.
AN ELIGIBLE ORGANIZATION S PROCESS APPROVED UNDER THIS SUBSECTION (4)SHALL NOT REQUIRE A SIX-MONTH MARKETING PERIOD .
THE DIVISION HAS THE AUTHORITY TO RENT OR ALLOW THE RENTAL OF A RESIDENTIAL UNIT CONSTRUCTED AS PART OF THE PROJ.CT (b) ONORBEFORE D ECEMBER 31,2026,THEDIVISIONSHALLISSUE GUIDANCE FOR WHEN AN ELIGIBLE ORGANIZATION MAY RENT UNITS WITHINAPROJECTANDDEVELOPAPROCESSBYWHICHRENTEDUNITSMAY RETURN TO THE FOR-SALE MARKET.
(5) (a) FOR PROJECTS FUNDED PURSUANT TO SECTION 29-32-104 (3)(a),NELIGIBLEORGANIZATIONMAYREQUESTTHATTHEDIVISIONALLOW ITTORENTRESIDENTIALUNITSCONSTRUCTEDASPARTOFTHEPROJECT .THE DIVISION HAS THE AUTHORITY TO RENT OR ALLOW THE RENTAL OF A RESIDENTIAL UNIT CONSTRUCTED AS PART OF THE PROJECT .
(c) A HOMEOWNER MAY RENT A UNIT FUNDED PURSUANT TO SECTION 29-32-104(3)(aASLONGASTHEUNITREMAINSTHEIRPRIMARY RESIDENCE.
(b) O N OR BEFORE D ECEMBER 31,2026,THE DIVISION SHALL ISSUE GUIDANCE FOR WHEN AN ELIGIBLE ORGANIZATIONMAYRENT UNITS WITHIN A PROJECT AND DEVELOPA PROCESS BY WHICH RENTED UNITS MAY RETURN TO THE FOR-SALE MARKET .
SECTION4.
(c) A HOMEOWNERMAYRENTAUNITFUNDEDPURSUANTTOSECTION 29-32-104(3)(a)ASLONGASTHEUNITREMAINSTHEIRPRIMARYRESIDENCE .
Effectivedate-applicability.Thisacttakeseffect July1, 2026, and applies to requests for waivers received bythe division on or after said date.
SECTION 4.
Effective date - applicability.
This act takes effect July1,2026,andappliestorequestsforwaiversreceivedbythedivisionon or after said date.
The general assembly finds, determines, and declares that this act is necessary for the immediate preservationofthepublicpeace,health,orsafetyorforappropriationsfor the support and maintenance of the departments of the state and state institutions.
The general assembly finds, determines, and declares that this act is necessary for the immediate preservation of the public peace, health, or safety or for appropriations for PAGE 8-SENATE BILL 26-040 the support and maintenance of the departments of the state and state institutions.
-12- 040
____________________________ ____________________________ James Rashad Coleman, Sr.
Julie McCluskie PRESIDENT OF SPEAKER OF THE HOUSE THE SENATE OF REPRESENTATIVES ____________________________ ____________________________ Esther van Mourik Vanessa Reilly SECRETARY OF CHIEF CLERK OF THE HOUSE THE SENATE OF REPRESENTATIVES APPROVED________________________________________ (Date and Time) _________________________________________ Jared S.
Polis GOVERNOR OF THE STATE OF COLORADO PAGE 9-SENATE BILL 26-040
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Action History

  1. Governor Signed

  2. Signed by the President of the Senate

  3. Signed by the Speaker of the House

  4. Sent to the Governor

  5. Senate Considered House Amendments - Result was to Concur - Repass

  6. House Third Reading Passed with Amendments - Floor

  7. House Second Reading Special Order - Passed with Amendments - Committee, Floor

  8. House Second Reading Laid Over Daily - No Amendments

  9. House Committee on Transportation, Housing & Local Government Refer Amended to House Committee of the Whole

  10. Senate Third Reading Passed - No Amendments

  11. Introduced In House - Assigned to Transportation, Housing & Local Government

  12. Senate Second Reading Passed with Amendments - Committee, Floor

  13. Senate Second Reading Laid Over to 03/30/2026 - No Amendments

  14. Senate Second Reading Laid Over to 03/27/2026 - No Amendments

  15. Senate Second Reading Laid Over to 03/26/2026 - No Amendments

  16. Senate Second Reading Laid Over to 03/25/2026 - No Amendments

  17. Senate Second Reading Laid Over to 03/24/2026 - No Amendments

  18. Senate Second Reading Laid Over to 03/23/2026 - No Amendments

  19. Senate Second Reading Laid Over to 03/20/2026 - No Amendments

  20. Senate Second Reading Laid Over to 03/19/2026 - No Amendments

  21. Senate Second Reading Laid Over to 03/18/2026 - No Amendments

  22. Senate Second Reading Laid Over to 03/17/2026 - No Amendments

  23. Senate Second Reading Laid Over to 03/16/2026 - No Amendments

  24. Senate Second Reading Laid Over to 03/13/2026 - No Amendments

  25. Senate Second Reading Laid Over to 03/12/2026 - No Amendments

  26. Senate Second Reading Laid Over to 03/11/2026 - No Amendments

  27. Senate Second Reading Laid Over to 03/10/2026 - No Amendments

  28. Senate Second Reading Laid Over to 03/09/2026 - No Amendments

  29. Senate Second Reading Laid Over to 03/06/2026 - No Amendments

  30. Senate Second Reading Laid Over to 03/05/2026 - No Amendments

  31. Senate Second Reading Laid Over to 03/04/2026 - No Amendments

  32. Senate Committee on Local Government & Housing Refer Amended to Senate Committee of the Whole

  33. Introduced In Senate - Assigned to Local Government & Housing

Sponsors

Sponsorship breakdown

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4 sponsors · 45 co-sponsors · 52 not signed on · 6 voted No

Sponsors (4)

Co-sponsors (45)

Not signed on (52)

52 members have not signed on to this bill.

Show all 52 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

CONCUR

Passed 35 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 21000
Republican 9001
Unaffiliated 5000
Total 35001
% of votes cast 97%0%0%3%
How each member voted (36)
Member Party Vote
Gonzales J. — Yea
Pelton B. — Yea
Pelton R. — Yea
President — Yea
Adrienne Benavidez — Yea
Cathy Kipp Democrat Yea
Chris Kolker Democrat Yea
Dylan Roberts Democrat Yea
Iman Jodeh Democrat Yea
James Coleman Democrat Yea
Janice Marchman Democrat Yea
Jeff Bridges Democrat Yea
Jessie Danielson Democrat Yea
Judy Amabile Democrat Yea
Katie Wallace Democrat Yea
Kyle Mullica Democrat Yea
Lindsey Daugherty Democrat Yea
Lisa Cutter Democrat Yea
Marc Snyder Democrat Yea
Matt Ball Democrat Yea
Mike Weissman Democrat Yea
Nick Hinrichsen Democrat Yea
Robert Rodriguez Democrat Yea
Tom Sullivan Democrat Yea
Tony Exum Democrat Yea
William Lindstedt Democrat Yea
Barbara Kirkmeyer Republican Yea
Cleave Simpson Republican Yea
Janice Rich Republican Yea
John Carson Republican Yea
Larry Liston Republican Yea
Lisa Frizell Republican Yea
Lynda Zamora Wilson Republican Yea
Marc Catlin Republican Yea
Mark Baisley Republican Not Voting
Scott Bright Republican Yea

Official roll call →

REPASS

Passed 34 Yea · 1 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 21000
Republican 8101
Unaffiliated 5000
Total 34101
% of votes cast 94%3%0%3%
How each member voted (36)
Member Party Vote
Pelton B. — Yea
Pelton R. — Yea
President — Yea
Benavidez — Yea
Gonzales J. — Yea
Cathy Kipp Democrat Yea
Chris Kolker Democrat Yea
Dylan Roberts Democrat Yea
Iman Jodeh Democrat Yea
James Coleman Democrat Yea
Janice Marchman Democrat Yea
Jeff Bridges Democrat Yea
Jessie Danielson Democrat Yea
Judy Amabile Democrat Yea
Katie Wallace Democrat Yea
Kyle Mullica Democrat Yea
Lindsey Daugherty Democrat Yea
Lisa Cutter Democrat Yea
Marc Snyder Democrat Yea
Matt Ball Democrat Yea
Mike Weissman Democrat Yea
Nick Hinrichsen Democrat Yea
Robert Rodriguez Democrat Yea
Tom Sullivan Democrat Yea
Tony Exum Democrat Yea
William Lindstedt Democrat Yea
Barbara Kirkmeyer Republican Yea
Cleave Simpson Republican Yea
Janice Rich Republican Yea
John Carson Republican Yea
Larry Liston Republican Yea
Lisa Frizell Republican Yea
Lynda Zamora Wilson Republican Nay
Marc Catlin Republican Yea
Mark Baisley Republican Not Voting
Scott Bright Republican Yea

Official roll call →

Refer Senate Bill 26-040, as amended, to the Committee of the Whole.

Passed 10 Yea · 3 Nay
Party YeaNayPresentNot Voting
Democrat 9000
Republican 1300
Total 10300
% of votes cast 77%23%0%0%
How each member voted (13)
Member Party Vote
Amy Paschal Democrat Yea
Andrew Boesenecker Democrat Yea
Elizabeth Velasco Democrat Yea
Jacque Phillips Democrat Yea
Jamie Jackson Democrat Yea
Kenny Nguyen Democrat Yea
Mandy Lindsay Democrat Yea
Meg Froelich Democrat Yea
Rebekah Stewart Democrat Yea
Chris Richardson Republican Nay
Larry Don Suckla Republican Yea
Max Brooks Republican Nay
Ron Weinberg Republican Nay

Official roll call →

BILL

Passed 34 Yea · 2 Nay
Party YeaNayPresentNot Voting
Democrat 21000
Republican 8200
Unaffiliated 5000
Total 34200
% of votes cast 94%6%0%0%
How each member voted (36)
Member Party Vote
Gonzales J. — Yea
Pelton B. — Yea
Pelton R. — Yea
President — Yea
Adrienne Benavidez — Yea
Cathy Kipp Democrat Yea
Chris Kolker Democrat Yea
Dylan Roberts Democrat Yea
Iman Jodeh Democrat Yea
James Coleman Democrat Yea
Janice Marchman Democrat Yea
Jeff Bridges Democrat Yea
Jessie Danielson Democrat Yea
Judy Amabile Democrat Yea
Katie Wallace Democrat Yea
Kyle Mullica Democrat Yea
Lindsey Daugherty Democrat Yea
Lisa Cutter Democrat Yea
Marc Snyder Democrat Yea
Matt Ball Democrat Yea
Mike Weissman Democrat Yea
Nick Hinrichsen Democrat Yea
Robert Rodriguez Democrat Yea
Tom Sullivan Democrat Yea
Tony Exum Democrat Yea
William Lindstedt Democrat Yea
Barbara Kirkmeyer Republican Yea
Cleave Simpson Republican Yea
Janice Rich Republican Yea
John Carson Republican Yea
Larry Liston Republican Yea
Lisa Frizell Republican Yea
Lynda Zamora Wilson Republican Nay
Marc Catlin Republican Yea
Mark Baisley Republican Nay
Scott Bright Republican Yea

Official roll call →

Subjects

housing
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Frequently asked questions

What does SB 40 do?
The division of housing in the department of local affairs (division) administers an affordable home ownership program (program) that makes grants to nonprofit organizations, local governments, community development financial institutions, and community land trusts (eligible organizations) and tribal governments to support affordable home ownership, including the development of residential housing units that are described in an eligible organization's funding request (project). Current law specifies that only a household with an income less than or equal to 120% of the area median income is eligible for assistance through the program, but it is unclear whether this requirement applies to housing units constructed by an eligible organization through one of its projects. The act clarifies that only a household with an income less than or equal to either 120% of the area median income of households of that size in the jurisdiction of a local government in which the households are located, or 120% of the statewide area median income of households of that size, is eligible for housing constructed by an eligible organization through one of its projects.     In addition, the act requires the program to offer housing that costs not more than 38% of a household's monthly income unless the ownership program is providing a homeowner with assistance for home rehabilitation.     The act also requires the program to offer grants and loans to groups or associations of mobile home owners and their assignees to support affordable homeownership for households with income less than or equal to 120% of the area median income of households of that size in the territory or jurisdiction of the local government in which the households are located, and specifies that the monthly housing payment must not cost more than 35% of the monthly household income. The act allows the division to modify the maximum percentage of income that a household may allocate pursuant to the program as applied to a residential unit constructed by an eligible organization as part of an affordable housing project pursuant to a waiver process initiated by an eligible organization if a substantial need for housing the project's target population exists, the unit has been adequately marketed to eligible buyers for purchase for at least 6 months after final completion of the unit, and the unit has not been purchased by an eligible buyer within that 6-month period.     For grants from the program to support tribal government programs, the tribe is responsible for establishing limitations on household income and maximum percentage of income that a household may allocate for monthly housing costs and a tribal affordability mechanism in lieu of any state-prescribed use covenant. The tribe shall submit evidence to the division that it has satisfied these requirements but is not required to disclose confidential tribal data, including the specific limitations or mechanisms it sets.     The division also administers a land banking program (land banking program) that makes grants to local and tribal governments and loans to nonprofits to acquire and preserve land for the development of affordable housing. For grants made to local governments or loans to nonprofits, the development of affordable housing includes rental housing projects with an imputed income limit by household size not to exceed 60% of area median income. Regulated units in the project must have a gross rent limit that does not exceed 30% of the imputed income limitation applicable to the units. Current law requires that a project provide for-sale housing that may be purchased by a household with an annual income of 100% of area median income. The act changes the income limit to 120% of area median income. For land banking program grants to support tribal government programs, the tribe is required to establish income limits by household size and gross rent limits and is not required to use the limits otherwise required for eligible organizations. The tribal government is required to submit evidence that it has established income and gross rent limits but is not required to disclose confidential tribal data, including what the specific limitations are.     The division may issue a waiver with housing cost limits that are different from those requested by an eligible organization if different housing cost limits would better serve needs identified in the community, the project remains financially feasible, and there are eligible buyers that meet the division's requirements. Alternatively, the division may modify the total amount of funding to account for an increase in the sales price of the unit. In lieu of this process, the division may approve an eligible organization's process for determining when to exceed the maximum monthly household income for a unit funded by the program, which shall not require a 6-month marketing period.     The division may allow an eligible organization to rent residential units constructed as part of the project. On or before December 31, 2026, the division is required to issue guidance for when units within a project may be rented and develop a process by which rented units may return to the for-sale market. A homeowner may rent a unit funded by the ownership program as long as the unit remains their primary residence.(Note: This summary applies to this bill as enacted.)
Who sponsors SB 40?
SB 40 is sponsored by Adrienne Benavidez, R. Stewart, G. Rydin, M. Rutinel, N. Ricks, J. Phillips, A. Paschal, K. Nguyen, K. McCormick, J. McCluskie, M. Lukens, M. Lindsay, S. Lieder, J. Joseph, J. Jackson, M. Froelich, R. English, M. Duran, C. Clifford, M. Carter, K. Brown, A. Boesenecker, J. Bacon, K. Stewart, L. Smith, Cleave Simpson (Republican), Matt Ball (Democrat), Jeff Bridges (Democrat), Marc Catlin (Republican), Lisa Cutter (Democrat), Tony Exum (Democrat), Lisa Frizell (Republican), Julie Gonzales (Democrat), Iman Jodeh (Democrat), Cathy Kipp (Democrat), Chris Kolker (Democrat), William Lindstedt (Democrat), Janice Marchman (Democrat), Kyle Mullica (Democrat), Dylan Roberts (Democrat), Marc Snyder (Democrat), Tom Sullivan (Democrat), Katie Wallace (Democrat), Mike Weissman (Democrat), James Coleman (Democrat), Judy Amabile (Democrat), Lindsey Daugherty (Democrat), Rod Pelton (Republican), and Barbara Kirkmeyer (Republican).
What is the current status of SB 40?
This bill has been enacted into law. Introduced January 27, 2026. Enacted.
Where can I track SB 40?
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