Relating to affordable housing provided by religious organizations; and prescribing an effective date.
Catchline/Summary:
Provides tax exemption for property of religious organization held or used solely to provide affordable housing to low income households. Provides tax exemption for property of religious organization held or used solely to provide affordable housing to low income households. Conditions tax exemption on property being subject to covenant to maintain affordability for not less than 60 years. Provides that default six-year sunset of tax expenditures does not apply to exemption. Requires initial claim to be filed with Department of Revenue and annual claims with county assessor thereafter.
Restricts conditions that local governments may place on development of affordable housing provided by religious nonprofit corporations and expands zoning where such housing must be allowed.
Takes effect on 91st day following adjournment sine die.
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HB 2008
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