HB1021

Amends the date for taxpayers to notify municipalities of their election to be assessed under the low-income housing tax credit program.

The bill modifies the date by which taxpayers must provide written notice to a municipality of their election to be assessed under the low-income housing tax credit program. Previously, taxpayers had to notify the municipality by October 1 preceding the tax year for which the election is sought. The bill changes this to April 15 of the tax year. The notice must be submitted using a form prepared by the Department of Revenue Administration. Properties under construction as of April 1 of the tax year are not eligible for this assessment.