Investment Authority of State Treasurer for Affordable Housing

The bill authorizes the state treasurer to invest up to $50 million of state money in bonds that may have below-market interest rates that are issued by a quasi-governmental entity if the proceeds of the bonds are used for the creation of affordable for-sale housing that otherwise would not be created without the state's investment. Money from redemption of such bonds may be reinvested by the state treasurer for the same purpose.
(Note: This summary applies to this bill as introduced.)