HOUSE BILL 329
Affordable housing tax exemption
PROPERTY TAXES – Amends existing law to revise provisions regarding a property tax exemption for low-income housing provided by nonprofit corporations.
RS30405C1 / H0329
This legislation amends and updates current statute, 63-602GG, Idaho code, which provides a property tax exemption for qualified workforce and affordable housing developments in Idaho. It allows non-profit organizations to partner with for profit entities on affordable housing projects and take advantage of other federal incentives for development. The proposed legislation also ensures the burden of new workforce housing construction will not negatively impact other local property taxpayers.
The proposed changes will have no negative fiscal impact to the state General Fund or local units of government as it only applies to future properties.
| Date | Description |
|---|---|
| 03/16 | Introduced, read first time, referred to JRA for Printing |
| Reported Printed and Referred to Revenue & Taxation |