Introduced
by
To give local governments the authority to grant 15-year property tax exemptions to developers of certain new or rehabbed rental housing projects (dubbed “workforce housing”), which the owners could rent to households whose income is "not greater than the area median income." Rather than property taxes, owners would pay local "service fees" at a rate not exceeding 10% of the owner's "shelter rents," or the tax rate in effect before the rehab project. See also Senate Bills 362, 364 and 422.
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 29 to 6 (details)
Referred to the Committee on Local Government and Municipal Finance
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Passed in the House 71 to 37 (details)
To give local governments the authority to grant 15-year property tax exemptions to developers of certain new or rehabbed rental housing projects (dubbed “workforce housing”), which the owners could rent to households whose income is "not greater than the area median income." Rather than property taxes, owners would pay local "service fees" at a rate not exceeding 10% of the owner's "shelter rents," or the tax rate in effect before the rehab project. See also Senate Bills 362, 364 and 422.
Passed in the Senate 31 to 5 (details)
