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2025 bills / S.B. 262

S.B. 262 Housing Affordability Modifications (2025)

Became lawWritten by Sen. Lincoln Fillmore · carried in the House by Rep. Stephen L. Whyte

  1. Introduced
  2. Senate committee
  3. Senate vote
  4. House committee
  5. House vote
  6. Signed into law

What this bill does

According to the official description, this bill:
  • defines terms
  • amends provisions allowing revenue from a home ownership promotion zone to be used for certain purposes
  • enacts provisions allowing legislative bodies to settle certain litigation through a consent agreement
  • allows a county and municipality to use home ownership promotion zone funds for all or part of water exaction, street lighting, and environmental remediation costs
  • requires a county to comply with land use provisions for all pending and new land use applications
  • directs the Utah Housing Corporation to make rules regarding:
  • procedures, qualifications, and requirements for private financial institutions that offer certain mortgage loans to first-time homebuyers
  • the creation of an incentive program for qualified buyers to assist certain borrowers with the purchase of liability insurance for certain qualifying projects
  • provides that first-time home buyers may use certain mortgage loans for specified purposes
  • creates a subordinate shared appreciation loan program to be administered by the Department of Workforce Services to assist borrowers for certain purposes
  • makes technical and conforming changes
Full text and history on le.utah.gov →

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Every vote

Hearings and debates