Reenacts low-income housing tax credits in North Carolina for qualified developments.

The bill reenacts low-income housing tax credits in North Carolina for qualified developments. It specifies that a taxpayer allocated a federal low-income housing tax credit can claim a credit based on the development's qualified basis. The credit percentage varies depending on the income level of households and the income designation of the county or city. The bill outlines methods for receiving the credit, including direct tax refunds or loans from the Housing Finance Agency.

Reenacts low-income housing tax credits in North Carolina for qualified developments.

The bill reenacts low-income housing tax credits in North Carolina for qualified developments. It specifies that a taxpayer allocated a federal low-income housing tax credit can claim a credit based on the development's qualified basis. The credit percentage varies depending on the income level of households and the income designation of the county or city. The bill outlines methods for receiving the credit, including direct tax refunds or loans from the Housing Finance Agency.