B25-0289 - District of Columbia Low-Income Housing Tax Credit Amendment Act of 2023

1 Co-Sponsor

As introduced, Bill 25-289 would specify the total value of credits available for the Department of Housing and Community Development to award. Among other things it also requires that each tax credit be awarded on a competitive basis and prohibits the use of a tax credit against certain taxes imposed unless the owner has filed an affidavit with the Department of Housing and Urban Development certifying that the value received by the owner was used to ensure the financial feasibility of the project. It would also provide the Department authority to recapture credits held by the project or owner or impose a fine on the owner for non-compliance.