Reported by CommitteeFiled Sep 3, 2025
Sponsor: Michele Reynolds (R)
Latest Action
Reported - Substitute
Jun 10, 2026
Summary
The Promised Land Act lets qualifying 501(c)(3) charities receive a nonrefundable credit equal to 10 % of construction costs for homes they sell to owner‑occupants. Credits are capped at $25 million statewide each fiscal year and $2 million per nonprofit per biennium, and can be transferred to other taxpayers. The measure is intended to spur nonprofit development of affordable, owner‑occupied housing.
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