HB583
Log in to followAN ACT relating to housing and making an appropriation therefor.
Create a new section of KRS Chapter 198A to create the affordable housing loan pool fund to be administered by the Kentucky Housing Corporation to provide rehabilitation and construction loans to eligible entities; specify terms and process; create a new section of KRS Chapter 194A to create the homelessness prevention fund to be administered by the Cabinet for Health and Family Services for continuum of care funds; specify eligible uses and eligible entities; amend KRS…
Introduced: February 14, 2025
Last action: February 21, 2025
Plain-language summary
This bill creates several new programs and tax tools aimed at expanding affordable housing in Kentucky, including loan funds for building and repairing homes, a new state tax credit for affordable housing development, and a homelessness prevention fund. It also removes sales tax on new modular and manufactured homes used as primary residences, adds a 1% surcharge on short-term rentals to fund affordable housing, increases how often the property tax homestead exemption adjusts for inflation,…
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Legislative History
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Co-sponsors (16)
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