colorado general assembly advances key affordable housing investments in 2024 legislative session

This week the Colorado General Assembly passed two key bills that will strengthen affordable housing investment in Colorado starting in 2024 and continuing through 2031. CHFA is grateful for the leadership and support of bill sponsors, Governor Jared Polis, and the bipartisan and broad-based coalition of housing, business, and community advocates who championed these important efforts.

HB24-1434, sponsored by Representative Bird, Representative Weinberg, Senator Zenzinger, and Senator Simpson, will strengthen and expand Colorado’s state Affordable Housing Tax Credit starting in 2024-2031. The bill also provides a new Transit Oriented Communities (TOC) Tax Credit for deployment beginning in 2025-2029, which works in conjunction with Transit Oriented Community land use policy authorized in HB24-1313. View the HB24-1434 Fact Sheet.

HB24-1316, sponsored by Representative Lindstedt, Representative Lindsay, and Senator Bridges, creates a new five-year Middle-Income Housing Tax Credit pilot program—the first of its kind in the nation—that builds on the success of the state Affordable Housing Tax Credit and CHFA’s Middle Income Access Loan Program (MIAP). The Middle-Income Housing Tax Credit will be available for deployment in 2025-2029. View the HB24-1316 Fact Sheet.

Both bills will now head to the Governor’s desk for signature. Please contact Jerilynn Francis or Julia Selby for more information.