Revision: March 18, 2024, 1:50 p.m.
Rep. Mangipudi, Hills. 11
March 13, 2024
2024-1115h
05/06
Amendment to HB 1545
Amend the bill by replacing section 1 with the following:
1 New Paragraph; Disposal of Real Estate; Sale or Lease of Property for Affordable Housing. Amend RSA 4:40 by inserting after paragraph III-a the following new paragraph:
III-b. Notwithstanding paragraph III, the subject property may be transferred pursuant to RSA 204-D at less than fair market value, as determined by the governor and council, if the property will be transferred to a nonprofit entity for the construction and development of affordable housing, as defined in RSA 204-C:56, I. The state agency shall convey such property with the necessary covenants and restrictions to ensure that the property is used for such purpose consistent with RSA 204-D.