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Committee approves bill expanding tools to incentivize affordable housing and tax-increment financing
Summary
House Bill 1306, an administration-backed measure, would broaden the definition of industrial development projects to include affordable single-family and multifamily housing, allow industrial development corporations to finance such projects, and permit tax increment financing features; the committee moved the bill to finance, ways and means.
Representative Darby presented House Bill 13-06 on behalf of the administration and Leader Lambreth. The bill seeks to incentivize affordable and workforce housing by expanding economic-development tools, including broadening "industrial development projects" to encompass single-family, condominium and townhome affordable housing, and allowing industrial…
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