Governor Wes Moore Testifies in Support of Moore-Miller Administration 2024 Housing Package

Courtesy governor.maryland.gov

On Tuesday, Governor Wes Moore testified in front of the House Environment and Transportation Committee in support of the Moore-Miller Administration’s 2024 legislative housing package.
Per the news release: Joined by Maryland Department Housing and Community Development Secretary Jake Day, the governor spoke in support of three bills: The Housing Expansion and Affordability ActThe Housing and Community Development Financing Act and The Renter’s Rights Stabilization Act. The bills aim to spur new housing construction, ease regulations, enhance long-term financial investment in low-income areas and centralize resources for Maryland renters–all as part of a comprehensive approach to make Maryland more affordable.

“Maryland is facing a housing crisis and it isn’t just hurting some of us – it’s hurting all of us. When we talk about Maryland’s housing crisis, we’re talking about individual lives and livelihoods, but also the health and success of our entire state,” said Gov. Moore. “The housing crisis remains one of the greatest threats to Maryland’s success– and that’s why our administration has assembled the most comprehensive housing package that any Maryland administration has introduced in years. This housing package will help us make Maryland more affordable, and empower us to unleash the potential of our state.”

The Housing Expansion and Affordability Act (SB 484/HB 538) seeks to directly address Maryland’s housing supply and affordability crisis to lower costs and expand economic opportunity for Marylanders across the state. This legislation will incentivize the construction of highly targeted new housing by removing barriers to development that have contributed to the current supply shortage. The bill also seeks to modernize land use law and expedite and simplify approval for transit-oriented development, development on former state-owned complexes, and housing development by 501(c)(3) organizations if certain affordability requirements are met, in addition to incentivizing development projects by allowing for greater density when certain conditions are met.

The Housing and Community Development Financing Act (SB 483/HB 599) focuses on strengthening state financing tools for housing construction and community development investments. The bill seeks to establish the Maryland Community Investment Corporation as a state Community Development Entity, which will unlock the ability to compete for tens of millions in federal funding through the New Market Tax Credit program. Upon award of federal funds, the Maryland Community Investment Corporation will make investments in low-income communities and community development projects across the state. The legislation also seeks to strengthen the Strategic Demolition and Smart Growth Impact Fund by allowing for debt payments and credit enhancements to be covered for qualified projects–in all, creating new tools for community and economic development in high-need communities.

The Renter’s Rights Stabilization Act (SB 481/HB 693)
 addresses the immediate needs of renters who are experiencing housing instability. This omnibus bill seeks to 1) establish an Office of Tenant Rights in the Department of Housing and Community Development responsible for providing renters with information about their rights under law and creating a tenant’s bill of rights; 2) address the high eviction filing rate in the nation by increasing the eviction filing fee and preventing it from being passed on to renters; 3) reduce the allowable security deposit from two months rent to one month; 4) create a powerful new pathway to homeownership by creating a statewide right of first refusal, allowing renters the right to purchase their home if being sold; 5) modify the state’s new rental voucher program to provide prioritization of vouchers for families with children under the age of five and for pregnant women.

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www.dayofthebook.com

Instagram: @kensingtonbookfestival

Contact: Elisenda Sola-Sole, Festival Director

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