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Senate committee trims affordable-housing tax credit, passes House bill 2119 as amended
Summary
The Kansas Senate Commerce Committee approved an amendment to House Bill 2119 that narrows the state affordable-housing tax credit program to 9% credits only and limits future allocations; the committee then voted to pass the bill as amended.
The Kansas Senate Commerce Committee on a voice vote on March 12 approved an amendment to House Bill 2119 that would eliminate state support for the 4% affordable-housing tax credits while preserving 9% credits, and then voted to pass the bill out of committee as amended.
House Bill 2119, as described to the committee, would discontinue the Kansas Affordable Housing Tax Credit Act on July 1, 2025, with exceptions for allocations already made. The bill also clarifies that the tax credit period and any applicable carry-forward periods continue to apply for allocations that were made, and it provides that no allocation of credit shall be awarded by the Kansas Housing Resources Corporation (KHRC) pursuant to the…
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