Taxes, Exemption and Credits - Authorizes the allocation by the Tennessee housing development agency, and credit by the department of revenue, of the tax credit created by the Tennessee Rural and Workforce Housing Act against a taxpayer's liability for premium tax, retaliatory tax, franchise tax, and excise tax; authorizes $10 million per year to be allocated in credits for the next three calendar years. -

SJR 27 authorizes the Tennessee Housing Development Agency to allocate $10 million annually in tax credits for low-income housing projects, applicable against premium tax, retaliatory tax, franchise tax, and excise tax liabilities. These credits are specifically for projects meeting criteria under the Tennessee Rural and Workforce Housing Act, with at least 50% of funds required to support housing in eligible rural areas. The resolution directs the agency to use these credits for the 2026-2028 calendar years, building on existing state law (Public Chapter 971 of 2024). It directly affects housing developers and property owners who qualify for these credits, providing a financial incentive to build or rehabilitate affordable housing. The bill does not create new taxes but modifies how existing tax credits can be applied.