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SS/SCS/SB 28 - This act places an aggregate cap on the amount of state low-income housing tax credits that may be authorized in a fiscal year. Such cap shall be 72.5% of the amount of federal low-income housing tax credits allocated to the state This act also reduces the limit on tax credits authorized for projects financed through tax-exempt bonds from $6 million to $4 million. To the extent that such limit is not reached in a fiscal year, the amount not authorized may, for such fiscal year only, be added to the amount of tax credits that may be authorized for projects not financed through tax-exempt bond issuance. JOSHUA NORBERG
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