Bill > H245

This bill modifies the existing law governing the allocation of low-income housing tax credits to specifically incentivize affordable housing development in rural communities and counties with higher poverty levels. The bill requires the North Carolina Federal Tax Reform Allocation Committee to adopt a Qualified Allocation Plan (QAP) that prioritizes housing development in rural and impoverished areas by establishing new guidelines for tax credit allocation. These guidelines include measuring the distance to amenities using a radius instead of driving distance, giving favorable consideration to proposed housing sites within 10 miles of amenities in small municipalities (population under 10,000), defining grocery stores more broadly, and using poverty levels as a tiebreaker when scoring competing housing proposals. The bill aims to encourage affordable housing development in areas with limited economic resources by providing strategic advantages to projects located in rural and high-poverty regions. The new provisions will apply to Qualified Allocation Plans adopted after October 1, 2025, giving the committee time to implement these new criteria and potentially attract more housing development in underserved communities.

Housing and Urban Affairs

https://www.ncleg.gov/BillLookUp/2025/H245