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House creates state low‑income housing tax credit to leverage private equity and build affordable units
Summary
House Bill 205 won broad support and passed 67‑0. Sponsors said the state credit, modeled on the federal program, would attract about $4 million in equity, leverage roughly $53 million in construction, create around 1,200 affordable units and produce more than 1,000 jobs.
Representative David M. Jones introduced House Bill 205, describing a low‑income housing tax credit program modeled on the federal credit to be administered by the Utah Housing Finance Corporation. “We are facing a tremendous housing crisis in the state of Utah today,” Jones said, urging prompt action to attract private equity to…
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