Legislative Successes

Legislative Successes

With your help, we are opening doors to homeownership in Maryland.

HB 90/SB 687 – State and Local Housing Programs – Affirmatively Furthering Fair Housing

STATUS: PASSED – Effective October 1, 2021 with reports due no later than December 1, 2023

Directs DHCD and local governments to report every 5 years on their efforts to promote fair housing choice and racial and economic integration, as required by the United States Housing and Urban Development (HUD) Agency under the Affirmatively Furthering Fair Housing Rule (AFFH). Directs DHCD to assess their programs under the AFFH. Directs local government to include a local assessment of fair housing efforts in the housing element of their comprehensive plans starting on January 1, 2023.


 

HB 1178 – Income Tax – Subtraction Modification – First-Time Homebuyer Savings Accounts

STATUS: PASSED – Effective July 1, 2021 for tax years starting after December 31, 2020.

Bestows upon first-time homebuyers (who have not owned a home in Maryland in the last 7 years) the ability to contribute up to $5,000 per year tax-free (state taxes) a year, up to $50,000 total. The money can be used for any down payment or closing costs listed on the settlement sheet. The accounts may only be created by the first-time buyer (does not allow a third-party like a parent to create an account for a child).


 

HB 1239/SB 859 – Department of Housing and Community Development – Appraisal Gap from Historic Redlining Financial Assistance Program – Establishment

STATUS: PASSED – Effective July 1, 2021

Directs the Department of Housing and Community Development (DHCD) to study whether there is discrimination in real estate financing, appraisals and community investments and report back to the Legislature.

The bill also creates a grant program for builders who build or remodel property in low-income areas where the sales price of the home is unlikely to cover the cost of construction or rehabilitation. Qualified property (residential property: in a low-income census track; in a state designated sustainable community; or with an affordable sales price) may qualify for financial assistance (most likely a grant – it prohibits loans) that does not exceed the lesser of 35% of the total cost of eligible construction expenses or 80% of the national median sale price for new homes.