DENVER ~ Denver - In a move to expand home ownership opportunities for hardworking Coloradans, Governor Jared Polis signed SB26-040 - Affordable Home Ownership Program into law today. The bill, sponsored by Senators Cleave Simpson and Judy Amabile, and Representatives Katie Stewart and Lesley Smith, aims to make the dream of owning a home a reality for more individuals in the state.

During the signing ceremony, Governor Polis expressed his belief that home ownership should be accessible to everyone. He stated, "The dream of home ownership is for everyone, and this new law expands home ownership opportunities to more hardworking Coloradans. Proposition 123 helps communities build more homes people can afford and this law will make home ownership a reality for more Coloradans by adding flexibility that will allow more homes to be built."

Senator Judy Amabile, who represents Boulder, explained that the Affordable Homeownership Program was originally designed in 2022 for a different market with lower interest rates and construction costs. She stated, "This new law updates the program to reflect today's reality and provide the flexibility that Coloradans need. We're taking a practical approach to make sure this program works as intended so more Colorado families can put down roots and achieve their dream of homeownership."

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Senate Minority Leader Cleave Simpson also spoke about the importance of updating the state's affordable homeownership program in light of current economic conditions. He said, "Senate Bill 26-040 takes a practical approach to help working families in Colorado buy homes again. By updating the state's affordable homeownership program, the bill makes more people eligible and adds flexibility so housing projects can reach buyers in today's market."

Representative Katie Stewart emphasized the bipartisan nature of the bill and its potential impact on rural areas like her own mountain town. She stated, "This bipartisan law makes the Prop 123 Affordable Homeownership Program more responsive to the needs of our communities, especially in Colorado mountain towns like mine. When Colorado voters approved Prop 123, it created the Affordable Home Ownership Program to help first-time homebuyers with down payments and other financial assistance. This new law will make crucial updates to the program to help more low- and middle-income Coloradans in rural areas qualify for homebuying assistance."

Representative Lesley Smith echoed the sentiments of her colleagues, emphasizing the need for expanding eligibility and flexibility in the program. She stated, "We're expanding eligibility and flexibility for this Prop 123 program to deliver more housing assistance for hardworking Coloradans. The Affordable Homeownership Program was created to help first-time homebuyers secure down payments. Unfortunately, interest rates and construction costs are higher than they were when the program was created. Our law makes necessary adjustments to the program so it can support Coloradans as intended and make homeownership a reality for more hardworking people."

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In addition to signing SB26-040, Governor Polis also signed HB26-1244 - Department of Public Health and Environment Nursing Home Penalty Fund into law. This bill, sponsored by Representatives Scott Slaugh and Junie Joseph, and Senators Lisa Frizell and Tony Exum, aims to address the shortage of healthcare workers by providing scholarships and training opportunities for those who work in nursing homes.

Governor Polis expressed his belief that this law will not only improve the quality of care for loved ones in nursing homes but also help fill in-demand jobs in the healthcare industry. He stated, "Colorado and the nation face a shortage of healthcare workers to provide everyone with high-quality and affordable care we deserve. This law will provide scholarships and training opportunities for healthcare workers who take care of our loved ones in nursing homes, ensuring our families receive the highest quality care while helping fill in-demand jobs."

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