H 760: TAXATION – Amends existing law to revise provisions regarding a certain property tax exemption for low-income housing.
Topics
✓ Budget & TaxesSupports Budget & TaxesBill tightens property tax exemption criteria for low-income housing nonprofits, ensuring tax benefits serve intended residents and promoting fiscal accountability through strict income requirements and compliance reporting.
✓ HousingSupports HousingMandates 55% units for ≤60% AMI, requires 501(c)(3) nonprofits, and ensures tax exemptions directly advance affordable housing access per income thresholds.