1. (a) A community land trust may lease real property only for the primary purpose of affordable housing.
2. (b) For multifamily projects or individual housing units on a tract of real property owned by the community land trust, multiple tracts that are contiguous, located close together in a geographic area, or within the same platted subdivision are considered a single tract.
3. (c) An individual or family tenant who is qualified to live in affordable housing at the effective time of the lease may renew the lease without redetermining the tenant’s qualifying status. When a qualifying lessee is an entity rather than an individual or family, the real property subject to the ground lease shall be occupied by individuals or families who meet the income requirements of the applicable affordable housing program, as defined in Section 24-1B-3.

(Act 2026-545, §7.)