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Senators, House members weigh changes to House Bill 2119 affordable-housing tax credit
Summary
Lawmakers discussed narrowing the Low-Income Housing Tax Credit in House Bill 2119, possible sunsets or temporary breaks and related tax-credit bills; no formal vote was taken and committee members planned further talks after the chamber recess.
Senators and House leaders meeting in a commerce committee discussion debated options for House Bill 2119, a proposal that would change the state's Low-Income Housing Tax Credit (LIHTC).
Senator Robins, speaking to the group, said negotiations are under way and described a likely path forward if an amendment can be agreed: "Assuming we're able to make that happen, our hope would be to, briefly have a commerce committee meeting, untable it, amend it, and then pass it out favorably." He said those talks were ongoing and that a formal position had not yet been adopted.
The matter matters because of the measure's fiscal impact. Mr. House Chair said the current fiscal exposure is large: "We are currently spending $250,000,000 a year in debt each year that this stays in place," he said, and contrasted that with an original fiscal note of $25,000,000. He urged colleagues to consider…
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