2021 Senate Bill 432 ↩

House Roll Call 470: Passed

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.