Revised for 2nd substitute: Modifying certain funding and exemptions related to providing and maintaining affordable housing and related services.

This bill modifies laws related to funding and exemptions for affordable housing and related services. It adjusts sales and use tax rates and distribution for affordable housing initiatives, changes rules for real estate excise tax exemptions on certain housing developments, and modifies property tax exemptions for emergency, transitional, and recovery housing. These changes aim to increase the availability and affordability of housing for various populations.

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