The creation of a grant program to award grants to homeowners who rent out residential space in their homes on a long-term basis to individuals seeking housing.
The bill creates the grants to homeowners to make residential space available to renters grant program (grant program) as a pilot program within the division of housing (division) within the Department Of Local Affairs (DOLA). State assistance in the form of a one-time grant award of $500 is provided to eligible recipients who provide residential space within their homes for the use of individuals seeking long-term rental housing. From the 2023-24 state fiscal year through the 2025-26 state fiscal year, the grant program must run for three consecutive state fiscal years.
A grant program is administered by the division. It is the division’s responsibility to create a process for awarding grants.
In order to be eligible to receive a grant award under the bill, an individual must:
Be the owner of record of residential real property that the individual occupies as the individual’s primary residence (owner-occupier);
Be at least 55 years of age as of the date of an application submitted by the individual for a grant award;
Make residential space available within the owner-occupier’s home for use by an individual seeking housing on a rental basis for a period of not less than 180 consecutive days.
In the state treasury, the bill creates the grants to homeowners to make residential space available to renters. Grant awards under the grant program and the administrative costs of administering the grant program are funded by the fund.
Annually, the division is required to publish a report summarizing how the money awarded under the grant program was used. It specifies minimum contents for the report, and the report must be posted on DOLA’s and the division’s websites. Additionally, the division must prepare and display educational materials concerning the grant program on DOLA’s website.
In the notice the assessor sends concerning the property tax exemption for qualifying seniors, county treasurers must include general information about the grant program. For inclusion in the notice, the division must provide information about the grant program to the county treasurers.