Texas SB2814 establishes a tax credit for certain housing developments, allowing eligible entities to claim credits against state premium tax.

Texas SB2814 introduces a tax credit for certain housing developments, enabling eligible entities to claim credits against their state premium tax liability. The bill outlines the criteria for qualified developments, including land ownership and financing restrictions. It specifies the process for applying for and issuing allocation certificates, detailing the documentation required and the conditions for credit allocation. The bill also addresses the apportionment, length, and limitations of the credits, including the ability to carry credits forward or backward.

Texas SB2814 establishes a tax credit for certain housing developments, allowing eligible entities to claim credits against state premium tax.

Texas SB2814 introduces a tax credit for certain housing developments, enabling eligible entities to claim credits against their state premium tax liability. The bill outlines the criteria for qualified developments, including land ownership and financing restrictions. It specifies the process for applying for and issuing allocation certificates, detailing the documentation required and the conditions for credit allocation. The bill also addresses the apportionment, length, and limitations of the credits, including the ability to carry credits forward or backward.