HB3302: Relating to a tax credit for investment in affordable housing; prescribing an effective date.

Legislative Summary

Creates income or corporate excise tax credit for investment in affordable housing, available to taxpayer eligible for federal low-income housing credit, and allocated by Housing and Community Services Department. Creates income or corporate excise tax credit for investment in affordable housing, available to taxpayer eligible for federal low-income housing credit, and allocated by Housing and Community Services Department. Sets annual limit for total combined potential tax credits allocated to all taxpayers. Applies to tax years beginning on or after January 1, 2024, and before January 1, 2039. Takes effect on 91st day following adjournment sine die.