Increases deeds excise tax to fund affordable housing and environmental adaptation.

The bill increases the deeds excise tax to fund emergency assistance needs of low-income tenants and homeowners. It mandates that the spending plan for these funds be posted on a publicly accessible website in a machine-readable format. The bill allocates funds to the Affordable Housing Trust Fund, Housing Preservation and Stabilization Trust Fund, and Global Warming Solutions Trust Fund, prioritizing investments with consideration of regional equity and environmental justice populations. It also provides a tax credit for first-time homebuyers. The bill takes effect on January 1, 2026.

Increases deeds excise tax to fund affordable housing and environmental adaptation.

The bill increases the deeds excise tax to fund emergency assistance needs of low-income tenants and homeowners. It mandates that the spending plan for these funds be posted on a publicly accessible website in a machine-readable format. The bill allocates funds to the Affordable Housing Trust Fund, Housing Preservation and Stabilization Trust Fund, and Global Warming Solutions Trust Fund, prioritizing investments with consideration of regional equity and environmental justice populations. It also provides a tax credit for first-time homebuyers. The bill takes effect on January 1, 2026.