April 20, 2024 1:22 am
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Affordable housing tax credit stirs debate

By Greta Forslund | Arizona Capitol Times

Some lawmakers and housing advocates fear two bills proposing a state low income housing tax credit program are the wrong response to the mounting issue of housing affordability in Arizona.

The program, currently operated in Arizona from the federal level, offers tax credits against insurance premium taxes and corporate income taxes to developers of qualified affordable housing projects.

The bills, introduced by Rep. Regina Cobb, R-Kingman, and Sen. David Gowan, R-Sierra Vista, would allocate $8 million over six years to a state tax credit program. About 20 other states have enacted or proposed similar programs.

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.