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Committee backs substitute for SB 67 to preserve $11 million cap on neighborhood-housing tax credits
Summary
The Special Committee on Tax Reform voted to recommend a do-pass on the House Committee substitute for Senate Bill 67, which clarifies administrative treatment of two existing tax-credit buckets that support neighborhood housing organizations and preserves a combined $11 million cap.
The Special Committee on Tax Reform voted to recommend a do-pass on the House Committee substitute for Senate Bill 67, which clarifies how two existing tax-credit buckets that support local neighborhood housing organizations are administered, the committee said.
The substitute keeps two separate tax-credit allocations — a $10,000,000 statewide bucket and a $1,000,000 bucket — and allows unused amounts from the $1,000,000 bucket to pour into the $10,000,000 bucket but preserves a combined maximum of $11,000,000.…
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