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Rep. Brian Chino asks Ways & Means for JFO/Taxes report on tax tools to preserve affordable housing
Summary
Representative Brian Chino asked the Ways & Means Committee to request a report from the Joint Fiscal Office and the Department of Taxes evaluating tax incentives and penalties intended to preserve affordable rental housing and promote tenant purchase, describing the proposal as section 5 of H.445.
Representative Brian Chino of Burlington urged the Ways & Means Committee to ask the Joint Fiscal Office (JFO) and the Department of Taxes to produce a report evaluating tax incentives and penalties aimed at preserving affordable rental housing and encouraging tenant homeownership, saying the proposal is drafted as section 5 of H.445.
Chino told the committee the report should analyze definitions and measurements of affordability, including the JFO basic needs budget, examine factors that drive rent from an owner’s perspective, model incentives and penalties, consider a tenant right of first refusal on sales, and project fiscal impacts to state revenues.
Chino framed the proposal as a diagnostic step rather than an immediate policy change. “I think we should get a report that gives you the numbers, and…
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