HB 22-1051

House Bill 22-1051, also known as the Modified Affordable Housing Tax Credit bill, extends a program that allows the Colorado Housing and Finance Authority (CHFA) to allocate tax credits for affordable housing projects. This program provides up to $10 million annually in tax credits from January 1, 2020, through December 31, 2031, helping developers build more affordable homes. The bill has been signed into law, meaning the extended period is now active and developers can continue to apply for these tax credits until 2031. This affects anyone involved in or benefiting from affordable housing projects in Colorado.

Official Summary

The Colorado housing and finance authority (CHFA), under the Colorado affordable tax credit program, may allocate income tax credits in an annual aggregate amount of up to $10 million for the years beginning on January 1, 2020, and ending on December 31, 2024. The bill extends this period to December 31, 2031. (Note: This summary applies to this bill as enacted.)

Votes