Low-income housing; tax credit for specialty populations, expands availability. (HB824)

Introduced By

Del. Luke Torian (D-Woodbridge)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Housing opportunity tax credit; specialty populations. Expands availability beginning in taxable year 2022 of the nonrefundable Virginia Housing Opportunity Tax Credit, which is equal to the amount of the federal low-income housing tax credit allocated or allowed by the Virginia Housing Development Authority, to qualified specialty population projects, defined in the bill as low-income buildings that are eligible for the federal credit that creates housing for individuals who (i) have been issued an intellectual disability or developmental disability waiver, (ii) require behavioral health treatment or services, or (iii) require treatment or services for substance use and abuse recovery. No more than $2.5 million in credits shall be granted per calendar year for such qualified specialty population projects. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2022Committee
01/12/2022Prefiled and ordered printed; offered 01/12/22 22103281D
01/12/2022Referred to Committee on Finance
01/27/2022Assigned Finance sub: Subcommittee #1
01/30/2022Impact statement from TAX (HB824)
02/07/2022Subcommittee recommends striking from docket (9-Y 0-N)
02/15/2022Left in Finance

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