Increase Tax Credit Allocation Affordable Housing

Income tax - affordable housing tax credit - increase in aggregate amount of tax credits that may be allocated annually. Currently, under the affordable housing tax credit, during each calendar year of the period beginning in 2015 and ending in 2024 the Colorado housing and finance authority (CHFA) may allocate tax credits in an aggregate amount up to $5 million annually. The act increases the annual aggregate cap to $10 million for the years beginning on January 1, 2020, and ending on December 31, 2024.(Note: This summary applies to this bill as enacted.) Read More