This bill allows - to pay or make a contribution toward the acquisition, construction, or rehabilitation of income targeted housing that is outside of the community if the housing is located along or near a major transit investment corridor that serves the community. The bill allows agencies to combine housing allocations through an interlocal agreement. 

The bill allows Olene Walker Housing Loan Fund fund money to be used for the preservation of existing affordable housing units for low-income individuals and renal assistance. The bill allows money from the Olene Walker Housing Loan Fund to be used for rental assistance for families with children that are homeless or at risk of homelessness. The bill defines the parameters of rental assistance and the conditions under which rental assistance may be provided for homeless families.

The bill allows a qualified taxpayer to assign a tax credit certificate under this section to another person.

The bill provides that at the end of the fiscal year, excess money in the Unclaimed Property Trust Fund will have the first $5,000,000 apportioned to the Olene Walker Housing Loan Fund. The remainder of the excess money will transfer to the Uniform School Fund and the Crime Victim Reparations Fund. 

The bill makes a one-time appropriation of $20,300,000 from the general fund to the Olene Walker Housing Loan Fund for the fiscal year beginning July 2020 and ending June 2021. The bill creates an ongoing appropriation of $10,000,000 from the general fund to the Olene Walker Housing Loan Fund.