Relating to a refund of sales and use taxes paid on the purchase or use of building materials used to construct certain subsidized housing.

SB 653 creates a sales tax refund program for construction companies building certain affordable housing projects. It allows refunds for sales and use taxes paid on building materials used in qualifying projects - defined as housing subsidized by federal or state tax credits awarded on or after September 1, 2025. Refunds are capped at $50,000 per single-family home or $5,000 per apartment unit, with annual limits of $100,000 per project type and a total state cap of $2 million per fiscal year. Applications are processed by the state comptroller on a first-come, first-served basis, with a 180-day waiting period between submissions.