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House committee hears bill to create tax credit for landlords who rent below market
Summary
Lawmakers heard testimony on House Bill 306, which would create a nonrefundable income tax credit for landlords who rent dwellings below county fair-market rent; fiscal and administrative questions about the credit amount, calculation and applicability to pass‑through entities were raised.
The House Taxation Committee heard testimony on House Bill 306, a proposal to create an income tax credit for property owners who rent dwellings below county fair‑market rent, Representative Denise Baum said. "This bill will provide an income tax credit for landlords renting dwellings below fair market rate," Baum said.
The bill would make a nonrefundable credit available to individual and corporate income taxpayers for tax years beginning after Dec. 31, 2025, Baum said. To qualify, a unit must be rented for at least $100 below 110% of the county fair‑market rent and meet housing quality standards set by HUD, the sponsor said. The bill defines dwelling to include single‑family homes, manufactured homes and units in multiunit dwellings and requires leases of at least one year; units already…
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