SB301

Louisiana SB301 establishes a process for transferring surplus immovable property to affordable housing entities.

Louisiana SB301 amends existing law to facilitate the transfer of surplus immovable property to affordable housing entities. The bill defines key terms such as "affordable housing," "affordable housing entity," and "surplus immovable property." It requires the Louisiana Housing Corporation to maintain an inventory of surplus property and allows affordable housing entities to submit proposals for development. Proposals are evaluated based on criteria including the inclusion of permanent supportive housing units and the proportion of deeply affordable units.