Modify the affordable single-family home credit

This bill modifies Ohio's affordable single-family home tax credit program to update definitions and procedures for developers and housing agencies. It directly affects nonprofit developers, government entities, and investors involved in building affordable housing by clarifying terms like "qualified project," "affordability period," and "eligible developer." The key mechanism allows the Ohio Housing Finance Agency director to reserve tax credits for projects that meet specific criteria, with a cap of $50 million annually and requirements that homes remain affordable for ten years. Developers must submit detailed applications, and the director evaluates them competitively while ensuring the total credit amount does not exceed 35% of estimated development costs. The bill also establishes rules for tracking project ownership and ensuring buyers occupy homes as primary residences during the affordability period.