Legislative Session number- 86

Bill Name: SF2078

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)