HB 2002

Abstract

Expands laws regarding preservation of participating properties that are publicly supported housing. Requires owner of participating property to provide notice to Housing and Community Services Department and local governments two years prior to expiration of contract or withdrawal of participating property from publicly supported housing. Requires property owner who violates notice requirements to extend affordability restriction on participating property. Requires owner of participating property to provide department and local governments with opportunity to offer to purchase participating property. Requires owner of participating property subject to certain contracts to provide department and local governments with right of first refusal to purchase participating property. Establishes timelines and requirements for department and local governments to exercise opportunity to offer to purchase participating property and right of first refusal to purchase participating property. Authorizes civil action by person who suffers ascertainable loss or damage as result of property owner's failure to comply with laws. Appropriates additional moneys from General Fund to department for certain biennial expenses. Takes effect on 91st day following adjournment sine die.