Affordable housing bill sponsored by Moed passes House
INDIANAPOLIS - State Representative Justin Moed (D-Indianapolis) today celebrated the House passage of Senate Bill 62, which will help increase access to affordable housing in Marion County.
Moed is the lead sponsor of Senate Bill 62. The bill makes it easier for nonprofits working in neighborhoods to purchase properties at tax sale by allowing up to 5 percent of serially tax delinquent properties to be first bid on by nonprofit buyers.
The measure was supported in committee by testimony from Habitat by Humanity of Greater Indianapolis, Indy Gateway, Renew Indianapolis, Southeast Neighborhood Development, Inc. (SEND), and the Indiana Association of REALTORS.
“This legislation is a significant step toward addressing the affordable housing crisis in Marion County,” Moed said. “With housing costs on the rise, we need to ensure there is an inventory of properties available to nonprofits who are dedicated to providing safe, stable and affordable housing.
“SB 62 will help community-minded nonprofits purchase and renovate these properties,” Moed added. “Without this change, the current process will continue to favor out-of-state private investment groups buying up property in our city. I will continue to fight to ensure fair housing opportunities for all Hoosiers.”
SB 62 passed the House with a vote of 91-2. It will now return to the Senate for further consideration.