Establishes the South Carolina State Housing Finance and Development Authority to provide loans and grants for affordable housing.
The bill amends the South Carolina Code to establish the South Carolina State Housing Finance and Development Authority. The Authority will provide loans and grants to create safe, decent, affordable, and sanitary housing for very low and lower income persons. It will also increase the availability of affordable rental and owner-occupied housing for special needs populations, including the elderly, handicapped, and homeless. The Authority will establish a program fund to finance affordable housing projects and developments.
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