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Legislative study pitch would let nonprofits partner with for‑profits to use property‑tax exemption for workforce housing
Summary
Representative Rick Cheatham introduced RS 32584, a proposal to allow nonprofit developers to team with for‑profit developers to use an existing property‑tax exemption to build workforce housing. Dominion representative Austin Vanderhaeyn described potential scale and economic impacts; committee approved introduction for interim consideration.
Representative Rick Cheatham introduced RS 32584 on Thursday as a proposal intended to put an option for the interim housing committee to consider next year: modify existing property‑tax exemptions for affordable and workforce housing so nonprofit sponsors can partner with for‑profit developers to increase construction scale.
"In 2002, the Idaho legislature adopted a property tax exemption for affordable and workforce housing projects developed by nonprofit entities," Cheatham said, adding restrictions in current code have kept the incentive “virtually unused.” He said the RS would allow nonprofits to team with profit organizations and use underutilized incentives to help make projects financially feasible.
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