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Newsroom: Policy News

2016 Legislative Session Comes to a Close

Friday, May 13, 2016  
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2016 Legislative Session Comes to a Close

After a busy five months tracking legislation, establishing positions, connecting with legislators, and negotiating compromises, the 2016 Colorado legislative session adjourned last Wednesday, May 11. Housing Colorado worked alongside its partners to achieve a number of notable victories this session: maintained the current $8.25 million allocation to the state affordable housing grants line item; extended the state Low Income Housing Tax Credit through 2019 in the amount of $5 million annually; established a tax-deferred savings account for first-time homebuyers; ensured access to tax exemptions and flexibility of term lengths for housing authorities; enabled tax increment financing as a tool for urban renewal which often includes affordable housing; and minimized impractical reporting liability for housing providers, among others.

Much work remains to be done, however, and Housing Colorado remains committed to advancing issues of crucial importance to the affordable housing community, including construction defects reform and securing a dedicated and sustainable source of revenue to fund much-needed affordable housing in our state. Very special thanks goes to members of the Legislative Committee, who work tirelessly over the course of the session to critically analyze proposals and guide Housing Colorado on its legislative positions and overall strategy, as well as members who joined us at the Capitol to provide testimony at hearings.

Click here to read Housing Colorado’s comprehensive summary of the 2016 legislative session outcomes

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