Back to Land Use Reform Tracker
State Land Use Enacted Legislation
| Bill # | State | Year | Party | Topic |
|---|---|---|---|---|
HB 527 |
MT | 2019 | D | Affordable housing incentives and financing, Tax Incentives |
Provided by Furman
Summary
- This act clarifies that property owned by a limited liability company where the limited liability company member is a nonprofit corporation qualifies for a state property tax exemption for affordable housing. It also removes language about tenant income restrictions that is redundant with federal law. A party satisfies the nonprofit partner or limited liability company member requirement of the subsection if it is a single-member limited liability company that is fully owned and controlled by a nonprofit corporation. A property must be considered to be owned and operated by an entity if it is occupied by the entity as a lessee under a long-term lease exceeding 49 years in length under which most benefits and burdens of ownership during the lease term have shifted to the lessee, including the obligation to pay property taxes.
Provided by lawmakers
Bill Title
Revise laws related to affordable housing tax exemptions
Related resources
Enacted Legislation Related Posts
Research and analysis from the Furman Center on this and related housing policy topics.
