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Bill to expand 79‑E tax tool draws support from housing advocates
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Summary
House Bill 11‑03 would expand eligibility and timing for RSA 79‑E community revitalization tax credits to help convert underused office/commercial buildings and to make housing opportunity zones workable. Nonprofit housing developers and advocates urged passage and proposed aligning workforce housing terms with federal financing windows.
The Senate Commerce Committee heard testimony on House Bill 11‑03, which seeks to expand the state’s Community Revitalization Tax Relief Credit (79‑E) to make conversions and new construction in housing opportunity zones more feasible.
Representative Alan Holland said HB 11‑03 would widen the kinds of buildings eligible for relief beyond offices to commercial and industrial structures, allow limited new construction within designated housing opportunity zones and extend the length of assessment relief in some workforce housing cases.
Ryan Fecteau, senior adviser at Avesta Housing, told the committee Avesta manages "over 3,000 homes across New Hampshire and Maine with nearly 4,700 residents" and said 79‑E helps close financing gaps. Avesta urged a longer eligibility window for workforce housing so projects better align with federal low‑income housing tax credit financing.
Tom Baruza of Housing Action New Hampshire also testified in support and said increasing the years of relief (they suggested 15 years) would better reflect current construction and financing realities and improve the tool’s effectiveness for affordable housing.
Committee members asked technical questions; the hearing was closed and the bill was referred to the housing subcommittee for further work on amendments.
