Relating to a tax credit for affordable housing lenders; prescribing an effective date.
Catchline/Summary:
Increases total amount of tax credits for affordable housing lenders allowed for all taxpayers per fiscal year. Increases total amount of tax credits for affordable housing lenders allowed for all taxpayers per fiscal year. Expands purposes for which qualified borrower may use loan proceeds, with conditions. Extends period over which credit may be claimed, for certain loans with federal financing. Adds bonds issued by housing authority to types of bonds that lending institution may purchase to make qualified loan. Applies to tax years beginning on or after January 1, 2022.
Takes effect on 91st day following adjournment sine die.
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HB 2584 Joint Committee On Tax Expenditures
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