State could increase funding for affordable housing, without a tax increase

House Bill 1245 could provide $50 million annually for affordable housing starting in 2021, without raising taxes. The new revenue would be generated by changing the amount of money retail businesses are allowed to hold back to cover the administrative costs of paying taxes.

“I think it would make a night-and-day difference, in terms of the resources the state would be committing to tackle the affordable housing problem that we have,” said state Rep. Mike Weissman, D-Aurora.