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Senate committee hears push to double CDFA tax-credit cap to $10 million
Summary
Supporters told the Senate Ways and Means Committee that doubling the Community Development Finance Authority(CDFA) tax-credit cap from $5 million to $10 million would leverage private donations to rehabilitate underused buildings and advance housing projects across New Hampshire.
Supporters of Senate Bill 158 told the New Hampshire Senate Ways and Means Committee that increasing the annual cap on the statetax credit for donations to the Community Development Finance Authority would unlock more private capital for housing and community development projects.
Grant Bossie, deputy chief of staff for the New Hampshire Senate, introduced the bill on behalf of Sen. Dan Innes, the bill's prime sponsor. "The Community Development Finance Authority has been providing technical assistance and creative financing options to New Hampshire communities since 1983," Bossie said. "Since 1998, the legislature has incentivized donations to CDFA through a tax credit program." He told the committee the proposal would double the cap from $5,000,000 to $10,000,000 annually.
The bill's supporters —…
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