HB1405

Establishes an affordable housing guarantee program for low and moderate-income individuals.

New Hampshire HB1405 amends RSA 204-C to create an affordable housing guarantee program. The housing finance authority will guarantee up to 80% of the principal on loans for affordable housing projects. The program targets individuals and families with incomes up to 80% of the state median income. The authority will establish rules for the program, including eligibility criteria for applicants and borrowers. The state pledges its full faith and credit to support the guarantee. The act takes effect 60 days after passage.