Bipartisan Incentive Program to Save Coloradans Money on Housing Clears Committee

HB22-1282 invests $40 million to boost affordable housing supply, increasing affordability and homeownership rates

DENVER, CO - The Senate Business, Labor, and Technology Committee today unanimously voted to advance a bill sponsored by Senator Jeff Bridges, D-Greenwood Village, to increase housing affordability, improve home ownership rates, and create jobs through innovative housing solutions.

Co-sponsored by Senator Rob Woodward, R-Loveland, HB22-1282 would create and allocate $40 million to the Innovative Housing Incentive Program Cash Fund to support the construction of innovative forms of affordable housing to be built across Colorado, such as modular housing, 3-D printed housing, kit homes, tiny homes, and other forms of prefabricated housing. This will boost the affordable housing supply and increase the rate of homeownership in communities that have traditionally lacked access to affordable housing.

“Hard working Colorado families deserve to have a home they can afford,” said Bridges. “But too many Coloradans are getting priced out of the neighborhoods where they work and live. This bill will create good-paying jobs while quickly increasing our housing stock with quality, affordable homes that will help drive down housing costs and get roofs over heads as quickly as possible. I am proud to sponsor this critical bipartisan legislation as we continue fighting to make sure every Colorado family has a place they can afford to call home.”

HB22-1282, part of a package of bills developed from the Affordable Housing Transformational Task Force recommendations, will also create jobs by incentivizing new innovative housing companies to manufacture and place their homes in Colorado.

HB22-1282 now moves to the Senate Appropriations Committee. Track the progress of the bill HERE.