To amend sections 149.311 and 175.16 of the Revised Code to allow area agencies on aging to couple the state historic rehabilitation and low-income housing tax credits and require a minimum price for low-income housing tax credits transferred by area agencies on aging.
To amend section 122.98 and to enact sections 122.982 and 122.983 of the Revised Code to modify the Residential Development Revolving Loan Program and to name this act the Housing Recovery Act.
To enact section 175.50 of the Revised Code to provide grants to qualifying applicants for mortgage assistance and to name the act the Mortgage Stability Act.
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.
To amend sections 5725.38, 5725.98, 5726.61, 5726.98, 5729.21, 5729.98, 5747.86, and 5747.98 and to enact section 122.841 of the Revised Code to authorize a nonrefundable, transferable tax credit for charitable organizations that construct owner-occupied housing and to name this act the Promised Land Act.
SB 255 would create a new program under Ohio law to provide state grants to eligible residents. The grants would directly assist qualifying households with payments for mortgage principal, property taxes, and utility bills. The bill establishes a specific funding mechanism (section 175.50 of the Revised Code) to distribute these financial supports. It focuses on concrete financial relief for low-to-moderate income homeowners facing housing cost burdens.
To amend sections 5747.08 and 5747.98 and to enact section 5747.87 of the Revised Code to authorize a refundable income tax credit or rebate for homeowners and renters whose property taxes or a portion of their rent exceed five per cent of their income and to name this act the Property Tax Refund Act.
To declare the General Assembly's intent to provide funding for the purpose of developing, repairing, or upgrading infrastructure that services housing in rural counties.
To amend sections 5725.38, 5725.98, 5726.61, 5726.98, 5729.21, 5729.98, 5747.86, and 5747.98 and to enact section 122.841 of the Revised Code to authorize a nonrefundable, transferable tax credit for charitable organizations that construct owner-occupied housing and to name this act the Promised Land Act.
To enact section 122.635 of the Revised Code to create a grant program for townships and municipalities that adopt pro-housing policies and to make an appropriation.
