4E Relating to economic development; providing for stimulation of the construction industry; requiring commissioner of employment and economic development (DEED) to administer a program to guarantee loans by a private lender for construction projects, providing a temporary construction loan guarantee program, specifying certain eligibility and application requirements, establishing a construction loan guarantee account in the state treasury and use of funds requirements, specifying certain fee and tax requirements, specifying limitation on guaranteed loan amount; providing a low income housing credit, specifying qualifications, credit allocation, method of claim, recapture, credit duration, education, promotion and enhancement; authorizing municipalities to construct on-site energy conservation improvements and impose special assessments upon request of an authority; authorizing the council of a municipality to construct, improve, alter and maintain on-site energy improvements in existing buildings, authorizing an authority to make improvements and to request a municipality to impose a special assessment; prescribing a petition and assessment process for certain real property owners; authorizing the housing finance agency (HFA) to develop a tax credit advance loan program for first-time homebuyers, specifying eligibility, repayment and deposits and claims; allowing the HFA to establish a first-time homebuyer tax credit advance loan account; modifying the definition of project to include properties designated as a qualified green building and sustainable design project; authorizing a municipality or redevelopment agency to issue revenue bonds for qualified green building and sustainable design projects under certain conditions; modifying the usage of excess increments by the housing finance agency to pay or reimburse stimulus project costs; allowing duration limits to be extended for certain stimulus projects, defining stimulus project; providing an extension of certain economic development related permits; providing tax abatement for properties containing newly constructed residential structure in flood damaged areas, specifying tax, reimbursement, and annual appropriation; appropriating money to commissioner of employment and economic development (DEED) and the housing finance agency (HFA), repealing a certain prior appropriation under certain conditions
(rt)