Bill > HB2926

This bill, titled the "Workforce Housing Incentive Act," aims to encourage the development of affordable housing by streamlining processes and offering tax incentives. It allows municipalities to establish expedited plan review and permitting processes for "workforce housing projects," which are defined as new residential units for sale or rent at prices affordable to households earning up to 150% of the area median income, with affordability restrictions for at least 20 years. The bill also makes technical amendments to existing laws regarding the approval of general plans before issuing bonds for housing projects, adjusting fee limits and clarifying definitions. Additionally, it introduces an exemption from the state's portion of the prime contracting sales tax for the development of these workforce housing projects, regardless of whether the services are provided concurrently with other taxable construction activities.

Business and Industry, Government Affairs

https://apps.azleg.gov/BillStatus/BillOverview/84885