HB229

Kentucky HB229 establishes an affordable housing credit for low-income housing projects.

Kentucky HB229 creates an affordable housing credit for qualified low-income housing projects. The credit is available for construction or substantial rehabilitation of housing units for individuals or families with incomes at or below 100% of the area median income. The credit is awarded on a project-specific basis and is subject to certain limits. Eligible entities include units of local government, local housing authorities, and housing assistance organizations. The credit is nonrefundable and cannot be used in conjunction with other credits.