Rod Willett
- Democratic
- Delegate
- District 58
Primary
Tax credit for participating landlords. Increases from $250,000 to $500,000 the maximum amount of tax credits that may be issued to participating landlords, as defined in relevant law, each fiscal year beginning with fiscal year 2025 and provides that, in the event that the amount of the qualified requests for tax credits for such participating landlords in the fiscal year exceeds $500,000, the Department of Housing and Community Development will prorate the tax credits among the qualified applicants. The bill also creates a pilot program that earmarks $100,000 for tax credits provided to a participating landlord renting a qualified housing unit in an eligible non-metropolitan census tract, as those terms are defined in the bill.
Tax credit for participating landlords.Increases from $250,000 to $1 million the maximum amount of tax creditsthat may be issued to participating landlords, as defined in relevantlaw, each fiscal year beginning with fiscal year 2025 and providesthat, in the event that the amount of the qualified requests fortax credits for such participating landlords in the fiscal year exceeds$1 million, the Department of Housing and Community Development willprorate the tax credits among the qualified applicants.
Approved by Governor-Chapter 322 (effective 7/1/24)
Acts of Assembly Chapter text (CHAP0322)
Governor's Action Deadline 11:59 p.m., April 8, 2024
Enrolled Bill communicated to Governor on March 11, 2024
Enrolled
Impact statement from TAX (HB1203ER)
Bill text as passed House and Senate (HB1203ER)
Read third time
Passed Senate (39-Y 0-N)
Constitutional reading dispensed (39-Y 0-N)
Reported from Finance and Appropriations (15-Y 0-N)
Impact statement from TAX (HB1203H2)
Referred to Committee on Finance and Appropriations
Constitutional reading dispensed
Read third time and passed House (83-Y 13-N)
VOTE: Passage (83-Y 13-N)
Committee on Appropriations substitute agreed to 24107063D-H2
Read second time
Committee from Finance substitute rejected 24106413D-H1
Engrossed by House - committee substitute HB1203H2
Read first time
Committee substitute printed 24107063D-H2
Reported from Appropriations with substitute (21-Y 0-N)
Subcommittee recommends reporting (8-Y 0-N)
Referred to Committee on Appropriations
Committee substitute printed 24106413D-H1
Assigned App. sub: Commerce Agriculture & Natural Resources
Reported from Finance with substitute (13-Y 9-N)
Subcommittee recommends reporting with substitute (5-Y 3-N)
Subcommittee recommends referring to Committee on Appropriations
House subcommittee amendments and substitutes offered
Impact statement from TAX (HB1203)
Assigned Finance sub: Subcommittee #1
Referred to Committee on Finance
Prefiled and ordered printed; offered 01/10/24 24103177D
| Bill Text Versions | Format |
|---|---|
| Prefiled and ordered printed; offered 01/10/24 24103177D | PDF HTML |
| Committee substitute printed 24106413D-H1 | PDF HTML |
| Committee substitute printed 24107063D-H2 | PDF HTML |
| HB1203ER | PDF HTML |
| CHAP0322 | PDF HTML |
| Document | Format |
|---|---|
| Fiscal Impact Statement: HB1203FER161.PDF | |
| Fiscal Impact Statement: HB1203FH2161.PDF | |
| Fiscal Impact Statement: HB1203F161.PDF |
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