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House approves workforce housing tax credit after divided debate
Summary
The Montana House passed House Bill 21 to create a state workforce housing tax credit, 75-25, after extended debate over program cost, administration and allocation method.
The Montana House on Friday approved House Bill 21, creating a state workforce housing tax credit intended to help finance low-income and workforce housing projects, by a vote of 75 to 25.
Sponsors and supporters said the credit is designed to close financing gaps that prevent developers from building rental housing affordable at lower rent levels. Representative Brewster, the bill sponsor, told the House the credit would work as gap financing alongside federal low-income housing tax credits and other funding and require projects to maintain rent restrictions for 30…
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