Bill > HB925

This bill allows Area Agencies on Aging (AAAs), which are organizations that help older adults and their families, to combine two types of tax credits: the state historic rehabilitation tax credit and the low-income housing tax credit. Specifically, it amends existing laws to permit AAAs to "couple" or link these credits, meaning they can use them together for certain projects. The bill also introduces a new requirement that when an AAA transfers or sells its low-income housing tax credits, there must be a minimum price set for those credits, ensuring they are not sold for less than a certain value. This aims to streamline the process for AAAs to utilize tax incentives for housing development projects that also preserve historic buildings.