AN ACT ESTABLISHING A PROPERTY TAX ABATEMENT FOR CERTAIN LANDLORDS.

HB 6431 allows municipalities to offer property tax reductions to landlords who agree to maintain affordable rental units for a set period. Landlords participating in the program must sign an affidavit committing to this affordability requirement. The bill creates a voluntary municipal option, meaning towns can choose whether to implement this tax abatement program. It directly affects participating landlords and the local governments that adopt the policy, focusing on preserving affordable housing through tax incentives.