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Nebraska senators advance bill to expand transferability of state affordable housing and childcare tax credits
Summary
The Legislature advanced LB182 to E & R initial after extended floor debate about how allowing certificated (transferable) credits and widening eligible purchasers to insurers and financial institutions would attract more private investment into affordable housing and childcare without increasing the cap on credits.
The Nebraska Legislature on the 16th day advanced LB182, a bill that would allow state affordable housing tax credits to be issued as certificated (transferable) credits and expand eligibility for the child‑care tax credit so insurers and financial institutions may participate. Sponsor Senator Mike Bostar said the change will draw more private capital into projects and ‘‘drive further investment into child care and affordable housing in our state.’’
The bill’s key change is structural: it does not increase the number of state tax credits the state awards but creates a secondary market by allowing credits to be certificated, sold or assigned independent of ownership stakes in a development. ‘‘What this is doing is it isn’t expanding…
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