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Senate debates HB36 to boost tax credits and create fund for extremely low‑income housing; bill tabled for fiscal review
Summary
First substitute House Bill 36 would raise state low‑income housing tax credits, allow multi‑investor tax‑credit ownership, and create a market‑based fund focused on households at or below 30% of area median income; the Senate voted to read it for a third time but tabled it on third for a fiscal note.
Senators on the Utah State Senate debated First Substitute House Bill 36 on the second reading calendar, a package of changes intended to expand affordable housing targeted at extremely low‑income (EOI) households.
Senator Weiler, the floor sponsor, told the body the bill increases the state low‑income housing tax credit rate (from 12.5¢ per person to 34.5¢ per person by population), allows multiple investors to own tax credits issued to a single apartment project, and creates a market‑based fund designed to support developments that serve…
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