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Ways and Means amends housing bill: first-generation tax credit to sunset, short-term rental tax provision removed
Summary
The House Ways and Means Committee voted a housing bill out of committee 10-1-0 after adding a five-year sunset to a first-generation homebuyer tax credit and removing a proposed municipal short-term rental tax, committee counsel said.
Committee counsel Cameron told the House Committee on General & Housing on Wednesday that the House Ways and Means Committee voted a housing package out of committee with amendments and a 10-1-0 vote in favor.
Cameron said the committee recommended two substantive changes: first, the first-generation homebuyer tax credit would be given a five-year sunset (repeal after five fiscal years) where the bill originally proposed no expiration; second, a proposed municipal 1%…
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