Massachusetts H3128 amends the low income housing tax credit allocation process to allow the Department of Revenue to allocate credits to an.
Massachusetts H3128 amends the state's low income housing tax credit allocation process. It allows the Department of Revenue to allocate low-income housing tax credits to an allocatee, defined as a taxpayer who either owns a qualified Massachusetts project or has committed to provide funding for such a project. The bill replaces references to "owner" with "allocatee" in relevant sections of the General Laws. This change aims to improve the efficiency of the state's low income housing tax credit system.
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