The House and Senate have passed SB 327 / HB 390 with MACo’s support, providing counties greater flexibility to structure Payment in Lieu of Taxes (PILOT) agreements for affordable housing.
MACo supports SB 327 / HB 390, which offers counties a practical and flexible tool for promoting the development and sustainability of affordable rental housing through PILOT agreements.
The bill initially required property owners to dedicate at least 50% of rental units to households earning 60% or less of the area’s median income for at least 15 years to qualify for a PILOT agreement.
Rather than a one-size-fits-all approach, MACo-supported amendments reduce this threshold to 25%, giving counties more flexibility to attract and sustain affordable housing while maintaining local budget stability.
The bill’s flexibility ensures counties can design PILOT agreements that reflect unique housing needs and fiscal demands. By incentivizing property owners to dedicate rental units as affordable, this legislation helps address housing challenges and promotes economic stability while avoiding undue burdens on property owners.
With identical bills passing in both chambers, SB 327 and HB 390 must advance in the opposite chamber before final approval. This next step ensures both chambers align on the legislation before it moves to the governor for consideration.
Previous Conduit Street Coverage: Flexible Incentives for Affordable Housing a Priority for Counties
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