House Committee on Appropriations Lay Over Unamended - Amendment(s) Failed
Summary
The bill would let qualifying community land trusts and other nonprofit housing providers claim a property‑tax exemption on land they acquire for building or rehabilitating affordable homes. To qualify, the property must be used for a charitable purpose, be leased to the owner of the improvements, and be sold or rented only to households at or below 100% of area median income. It also adds reporting requirements and liability for taxes if the property later stops meeting the affordability criteria.
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