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Bill would expand affordable housing tax credit to mortgage funds, preservation projects
Summary
House Bill 3236 would expand the Oregon Affordable Housing Tax Credit (OHTC) definitions to include qualified mortgage loan funds and allow use of the credit for preservation/rehabilitation of distressed affordable properties, witnesses told the Revenue Committee during a May 6 hearing.
House Committee on Revenue members heard public testimony May 6 on House Bill 3236, which seeks to expand the state’s Oregon Affordable Housing Tax Credit (OHTC) to allow its use with qualified mortgage loan funds and to permit OHCS to allocate the credit to preserve or rehabilitate severely distressed multifamily properties occupied by households at or below 80% of area median income.
Bill sponsors and witnesses told the committee the change would give the OHTC new flexibility without adding a new direct appropriation. Bill Van Vliette, executive director of NOAH…
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