SB 692 – Changes the maximum authorization on low-income housing project tax credits from $6 million to $12 million

• Sponsor: Nasheed
• LR Number: 4095S.01I
• Committee: Jobs, Economic Development and Local Government
• Last Action: 1/11/2016 - Second Read and Referred S Jobs, Economic Development and Local Government Committee
• Journal Page: S97
• Effective Date: August 28, 2016

Current Bill Summary

SB 692 - Currently, no more than $6 million in tax credits may be authorized each year for low-income housing projects through tax-exempt bond issuance. This act changes this $6 million maximum authorization to $12 million.

DOMENIC SITA