Introduced
by
To authorize a new form of property tax break for developers who refurbish or build property (dubbed "attainable housing") and rent out 30% or more of the units to households with incomes less than 120% of the county median, at rates that do not exceed 30% of the household's income. The bill would authorize local governments giving 50% property tax cuts to developers, with state taxpayers ultimately covering the foregone local tax revenue.
Referred to the Committee on Economic and Small Business Development
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Passed in the Senate 28 to 7 (details)
To authorize a new form of property tax break for developers who refurbish or build property (dubbed "attainable housing") and rent out 30% or more of the units to households with incomes less than 120% of the county median, at rates that do not exceed 30% of the household's income. The bill would authorize local governments giving 50% property tax cuts to developers, with state taxpayers ultimately covering the foregone local tax revenue. See also Senate Bills 364, 422 and 432.
Referred to the Committee on Local Government and Municipal Finance
Reported without amendment
With the recommendation that the substitute (H-3) be adopted and that the bill then pass.
Passed in the House 71 to 37 (details)
To authorize a new form of property tax break for developers who refurbish or build property (dubbed "attainable housing") and rent out 30% or more of the units to households with incomes less than 120% of the county median, at rates that do not exceed 30% of the household's income. The bill would authorize local governments giving 50% property tax cuts to developers, with state taxpayers ultimately covering the foregone local tax revenue. See also Senate Bills 364, 422 and 432.
Passed in the Senate 30 to 5 (details)
