Back to Land Use Reform Tracker
State Land Use Enacted Legislation
| Bill # | State | Year | Party | Topic |
|---|---|---|---|---|
HB 1434 |
CO | 2024 | D | Affordable housing incentives and financing, Lands near transit |
Provided by Furman
Summary
- Increases the amounts of the affordable housing tax credit that the Colorado housing and finance authority may allocate to qualified taxpayers by: $20,000,000 for credits allocated in 2024, $16,000,000 for credits allocated in 2025, $12,000,000 for credits allocated in 2026; $12,000,000 for credits allocated in 2027; $16,000,000 for credits allocated in 2028; $20,000,000 for credits allocated in 2029; $20,000,000 for credits allocated in 2030; and $20,000,000 for credits allocated in 2031.
- Accelerates the credit by requiring that a qualified taxpayer claim 70% of the total amount of the credit in the first year of the credit period and claim 6% of the total amount of the credit in each of the second through sixth years of the credit period.
- Creates the Colorado Affordable Housing in Transit-Oriented Communities Income Tax Credit, which is refundable and administered in the same manner as the Colorado Affordable Housing Tax Credit; except that the tax credit is awarded in connection with qualified low-income housing projects in certified transit-oriented communities and is repealed December 31, 2049.
- Reduces the amount of money transferred to the Housing Development Grant Fund by $35 million for state fiscal year 2024-25 through 2031-32. The act became effective May 30, 2024.
Provided by lawmakers
Bill Title
Expand Affordable Housing Tax Credit
Related resources
Enacted Legislation Related Posts
Research and analysis from the Furman Center on this and related housing policy topics.
