Plain English Breakdown
The bill summary does not provide specific details on how many people will benefit from the changes.
Housing Incentive Program Changes
This bill changes how long multi-family housing built under an incentive program must stay affordable.
What This Bill Does
- Changes Tennessee's laws to require multi-family homes in a voluntary affordable housing program to be deed-restricted for at least 30 years instead of forever.
Who It Names or Affects
- People who build multi-family homes under a voluntary program in Tennessee
- Residents looking for affordable housing
Terms To Know
- Deed-restricted
- A rule that says the property can only be used or sold in certain ways, like staying affordable.
Limits and Unknowns
- The bill did not pass and is no longer being considered.
- It does not specify how many people will benefit from this change.