Missoula County supports SB 18, Establish workforce housing tax credits, up for hearing tomorrow morning in Senate Taxation. The bill would establish a State Workforce Housing Tax Credit to help investors leverage and augment the Federal Housing Tax Credit. The tax credit program would help finance the production and preservation of affordable rental housing. In exchange for tax credits, for a period of 30 years, developments would be required to serve households with an average income of 60 percent of the Area Median Income or below, and would have to cap rents (including utilities) at 30 percent of household income. The Montana Board of Housing would oversee distribution of up to $6.4 million in tax credits for qualified housing developments annually. Missoula County supports this approach as it augments our efforts to expand opportunities for housing for Missoula County residents.
Missoula County supports SB 18, Establish workforce housing tax credits, up for hearing tomorrow morning in Finance and Claims. The bill would establish a State Workforce Housing Tax Credit to help investors leverage and augment the Federal Housing Tax Credit. The tax credit program would help finance the production and preservation of affordable rental housing. In exchange for tax credits, for a period of 30 years, developments would be required to serve households with an average income of 60 percent of the Area Median Income or below, and would have to cap rents (including utilities) at 30 percent of household income. The Montana Board of Housing would oversee distribution of up to $6.4 million in tax credits for qualified housing developments annually. Missoula County supports this approach, as it augments our efforts to expand opportunities for housing for Missoula County residents.
Sent afternoon of Jan. 22:
ReplyDeleteSenator Barrett,
Missoula County supports SB 18, Establish workforce housing tax credits, up for hearing tomorrow morning in Senate Taxation. The bill would establish a State Workforce Housing Tax Credit to help investors leverage and augment the Federal Housing Tax Credit. The tax credit program would help finance the production and preservation of affordable rental housing. In exchange for tax credits, for a period of 30 years, developments would be required to serve households with an average income of 60 percent of the Area Median Income or below, and would have to cap rents (including utilities) at 30 percent of household income. The Montana Board of Housing would oversee distribution of up to $6.4 million in tax credits for qualified housing developments annually. Missoula County supports this approach as it augments our efforts to expand opportunities for housing for Missoula County residents.
Please support SB 18.
Sent March 19:
ReplyDeleteSenators McConnell and Salomon,
Missoula County supports SB 18, Establish workforce housing tax credits, up for hearing tomorrow morning in Finance and Claims. The bill would establish a State Workforce Housing Tax Credit to help investors leverage and augment the Federal Housing Tax Credit. The tax credit program would help finance the production and preservation of affordable rental housing. In exchange for tax credits, for a period of 30 years, developments would be required to serve households with an average income of 60 percent of the Area Median Income or below, and would have to cap rents (including utilities) at 30 percent of household income. The Montana Board of Housing would oversee distribution of up to $6.4 million in tax credits for qualified housing developments annually. Missoula County supports this approach, as it augments our efforts to expand opportunities for housing for Missoula County residents.
Please support SB 18.