Workforce Housing & Housing Tax Credit

Currently, a board of county commissioners (board) may not appropriate general fund money from ad valorem taxes for multijurisdictional housing authorities or other housing authorities established in statute (housing authorities). The bill allows a board to use revenue generated by ad valorem taxes that is in the county's general fund or in other specified county funds for housing authorities. In addition, the bill allows a board to use county general fund money from ad valorem taxes or money from other county funds for workforce housing.

Currently, a middle-income housing tax credit (credit) may be transferred from a governmental entity or quasi-governmental entity to a qualified taxpayer. A qualified taxpayer must own an interest in a qualified project to claim the credit. The bill entitles an individual, person, firm, corporation, or other entity subject to income tax and transferred a credit by a governmental entity or quasi-governmental entity to claim the credit without owning an interest in a qualified project.

(Note: This summary applies to this bill as introduced.)