Bill Summary

by Rodriguez

Affordable Housing; Providing a tax credit against corporate income taxes to landlords who lease dwelling units under specified conditions to college students and recent college graduates; providing additional tax credits if landlords keep the monthly rental rates at specified levels as determined by the Shimberg Center for Affordable Housing; providing additional tax credits to landlords who include specified statements in lease agreements that grant college students and recent college graduates the right to purchase the rental dwelling units at specified rates; requiring the department to consult with the Shimberg Center for Affordable Housing in determining eligibility for tax credits; requiring the Shimberg Center for Affordable Housing to determine certain affordable housing rental needs for certain purposes; requiring the Shimberg Center for Affordable Housing to include certain recommendations relating to affordable housing rental needs in its annual report, etc. Effective Date: 7/1/2022

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