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SB 173

relative to residential property subject to housing covenants under the low income housing tax credit program.

2025 Regular Session Introduced by Joe Alexander and 5 co-sponsors

SB 173 modifies affordable housing covenant requirements for properties in New Hampshire's Low Income Housing Tax Credit program, effective July 2025.

Signed by the Governor on 06/24/2025; Chapter 0120; Effective 07/01/2025
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Bill Summary · SB 173

Legislative bill overview

SB 173 modifies New Hampshire's regulations governing residential properties that are subject to housing covenants under the federal Low Income Housing Tax Credit (LIHTC) program. The bill adjusts requirements or restrictions placed on properties receiving this federal tax incentive for affordable housing development. It became effective July 1, 2025, following gubernatorial signature.

Why is this important

The LIHTC program is a major federal mechanism for financing affordable rental housing, and state-level modifications can significantly affect housing developers, property owners, and low-income residents seeking affordable units. Changes to covenant requirements can impact the long-term affordability obligations, property management flexibility, or compliance burdens for affordable housing projects in New Hampshire.

Potential points of contention

  • Affordability preservation vs. owner flexibility: Modifications to housing covenants could weaken long-term affordability protections or, conversely, restrict property owners' operational flexibility in ways that affect project viability
  • Federal-state alignment: Changes to state covenant rules must align with federal LIHTC requirements, risking non-compliance if not carefully structured
  • Developer and stakeholder impact: Affordable housing developers, property management companies, and resident advocacy groups may have differing views on whether changes benefit or burden their interests

Compiled from official sources — confirm details with the bill’s official record.

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