HB306

Montana HB306 provides an income tax credit for landlords renting dwellings below market rate.

Montana HB306 introduces an income tax credit for property owners who rent dwellings below market rate. The credit applies to both individual and corporate taxpayers. The credit amount is equal to $200 for each $100 by which 110% of fair market rent exceeds the monthly rent. The credit cannot exceed the taxpayer's income tax liability and can be carried forward for up to three years. The dwelling must meet housing quality standards and be subject to a lease agreement of at least one year.