SB 18-007

Senate Bill 18-007, also known as the Affordable Housing Tax Credit bill, updates the name of an existing tax credit program from "low-income housing tax credit" to "affordable housing tax credit." The bill also extends the deadline for allocating these tax credits by the Colorado Housing and Finance Authority until December 31, 2024. This change aims to provide more time for developers to use the tax credits to build affordable homes. Since the bill has been signed into law, it is now active and affecting housing development projects in Colorado.

Official Summary

The bill changes the name of the existing low-income housing tax credit to the affordable housing tax credit. This change is reflected in sections 1 and 3 of the bill. Section 2 extends the period during which the Colorado housing and finance authority may allocate affordable housing tax credits from December 31, 2019, to December 31, 2024.(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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