summary
Introduced
02/27/2023
02/27/2023
In Committee
02/28/2023
02/28/2023
Crossed Over
Passed
Dead
12/13/2024
12/13/2024
Introduced Session
2023-2024 Session
Bill Summary
AN ACT TO REENACT THE LOW-INCOME HOUSING TAX CREDITS.
AI Summary
This bill reenacts the North Carolina Low-Income Housing Tax Credits, which provide a state tax credit for developers of affordable housing projects that receive federal low-income housing tax credits. The bill outlines the eligibility criteria for the state tax credit, including the percentage of qualified residential units that must be affordable to households at various income levels. The bill also allows developers to receive the state credit either as a direct tax refund or as a loan from the North Carolina Housing Finance Agency. The sunset date for the tax credit is extended from January 1, 2015 to January 1, 2027.
Committee Categories
Budget and Finance
Sponsors (21)
Abe Jones (D)*,
Kelly Alexander (D),
John Autry (D),
Amber Baker (D),
Cynthia Ball (D),
Gloristine Brown (D),
Laura Budd (D),
Patricia Cotham (R),
Sarah Crawford (D),
Wesley Harris (D),
Pricey Harrison (D),
Zack Hawkins (D),
Frances Jackson (D),
Ray Jeffers (D),
Carolyn Logan (D),
Tim Longest (D),
Marvin Lucas (D),
Marcia Morey (D),
Lindsey Prather (D),
Amos Quick (D),
Julie Von Haefen (D),
Last Action
Ref to the Com on Finance, if favorable, Rules, Calendar, and Operations of the House (on 02/28/2023)
Bill Topics
Community Development and Housing Issues
- ‐ Housing and Community Development for Low and Middle Income Persons
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.ncleg.gov/BillLookUp/2023/H208 | 02/27/2023 |
| BillText | https://www.ncleg.gov/Sessions/2023/Bills/House/PDF/H208v1.pdf | 02/28/2023 |
| BillText | https://www.ncleg.gov/Sessions/2023/Bills/House/PDF/H208v0.pdf | 02/27/2023 |
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