Enacts the housing development fund company fairness, preservation, and affordability act.
The bill enacts the housing development fund company fairness, preservation, and affordability act. It clarifies provisions relating to the dissolution and reincorporation of housing development fund companies. It provides for tax exemptions and abatements for housing development fund companies. It also establishes a mechanism to ensure that housing development fund companies that receive the tax benefit comply with affordability requirements.
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- Impact
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