Legislation - SB0598

Requiring the Department of Housing and Community Development to notify the State Department of Assessments and Taxation, within 30 days of closing and the execution and delivery of a certain regulatory agreement, that a commercial property that is developed under a certain provision of federal law has been awarded a low-income tax credit; and applying the Act to all taxable years beginning after June 30, 2025.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Opposite:: Ways and Means Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB0585

Bill File Type: Regular

Effective Date(s): June 1, 2025

History

Legislation History
Chamber Senate Calendar Date 1/27/2025 Legislative Date 1/23/2025 Action First Reading Budget and Taxation Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Property Tax – Low–Income Housing Tax Credit – Valuation of Property Proceedings
Chamber Senate Calendar Date 1/30/2025 Legislative Date 1/30/2025 Action Hearing 2/19 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/06/2025 Legislative Date 2/06/2025 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 2/06/2025 Legislative Date 2/06/2025 Action Hearing 2/12 at 1:00 p.m. Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/11/2025 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/11/2025 Action Hearing 2/12 at 1:05 p.m. Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/11/2025 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/11/2025 Action Hearing 2/12 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Budget and Taxation Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/10/2025 Legislative Date 3/10/2025 Action Favorable with Amendments Report by Budget and Taxation Proceedings
Chamber Senate Calendar Date 3/11/2025 Legislative Date 2/21/2025 Action Favorable with Amendments {793723/1 Adopted Proceedings 41 Click to view Recorded Media
Chamber Senate Calendar Date 3/11/2025 Legislative Date 2/21/2025 Action Second Reading Passed with Amendments Proceedings 41 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Property Tax – Low–Income Housing Tax Credit – Valuation of Property Proceedings
Chamber Senate Calendar Date 3/12/2025 Legislative Date 2/23/2025 Action Third Reading Passed (47-0) Proceedings 43 Click to view Recorded Media
Chamber House Calendar Date 3/13/2025 Legislative Date 3/02/2025 Action Referred Ways and Means Proceedings 42 Click to view Recorded Media
Chamber House Calendar Date 3/17/2025 Legislative Date 3/17/2025 Action Hearing 3/25 at 1:00 p.m. Proceedings
Chamber House Calendar Date 3/25/2025 Legislative Date 3/25/2025 Action Hearing canceled Proceedings
Chamber House Calendar Date 3/25/2025 Legislative Date 3/25/2025 Action Hearing 3/26 at 1:00 p.m. Proceedings
Chamber House Calendar Date 3/26/2025 Legislative Date 3/26/2025 Action Hearing canceled Proceedings
Chamber House Calendar Date 3/26/2025 Legislative Date 3/26/2025 Action Hearing 3/26 at 2:15 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Ways and Means Proceedings Click to view Recorded Media
Chamber House Calendar Date 4/02/2025 Legislative Date 4/02/2025 Action Favorable Report by Ways and Means Proceedings
Chamber House Calendar Date 4/02/2025 Legislative Date 3/17/2025 Action Favorable Adopted Second Reading Passed Proceedings 57 Click to view Recorded Media
Chamber House Calendar Date 4/03/2025 Legislative Date 3/20/2025 Action Third Reading Passed (122-15) Proceedings 60 Click to view Recorded Media
Chamber Senate Calendar Date 4/04/2025 Legislative Date 3/18/2025 Action Returned Passed Proceedings 66 Click to view Recorded Media
Chamber Post Passage Calendar Date 4/08/2025 Legislative Date 4/08/2025 Action Approved by the Governor - Chapter 68 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Property Tax – Low–Income Housing Tax Credit – Valuation of Property Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	1/27/2025	1/23/2025	First Reading Budget and Taxation
			Text - First - Property Tax – Low–Income Housing Tax Credit – Valuation of Property
Senate	1/30/2025	1/30/2025	Hearing 2/19 at 1:00 p.m.
Senate	2/06/2025	2/06/2025	Hearing canceled
Senate	2/06/2025	2/06/2025	Hearing 2/12 at 1:00 p.m.
Senate	2/11/2025	2/11/2025	Hearing canceled
Senate	2/11/2025	2/11/2025	Hearing 2/12 at 1:05 p.m.
Senate	2/11/2025	2/11/2025	Hearing canceled
Senate	2/11/2025	2/11/2025	Hearing 2/12 at 1:00 p.m.
			Vote - Senate - Committee - Budget and Taxation	Click to view Recorded Media
Senate	3/10/2025	3/10/2025	Favorable with Amendments Report by Budget and Taxation
Senate	3/11/2025	2/21/2025	Favorable with Amendments {793723/1 Adopted	41 Click to view Recorded Media
Senate	3/11/2025	2/21/2025	Second Reading Passed with Amendments	41 Click to view Recorded Media
			Text - Third - Property Tax – Low–Income Housing Tax Credit – Valuation of Property
Senate	3/12/2025	2/23/2025	Third Reading Passed (47-0)	43 Click to view Recorded Media
House	3/13/2025	3/02/2025	Referred Ways and Means	42 Click to view Recorded Media
House	3/17/2025	3/17/2025	Hearing 3/25 at 1:00 p.m.
House	3/25/2025	3/25/2025	Hearing canceled
House	3/25/2025	3/25/2025	Hearing 3/26 at 1:00 p.m.
House	3/26/2025	3/26/2025	Hearing canceled
House	3/26/2025	3/26/2025	Hearing 3/26 at 2:15 p.m.
			Vote - House - Committee - Ways and Means	Click to view Recorded Media
House	4/02/2025	4/02/2025	Favorable Report by Ways and Means
House	4/02/2025	3/17/2025	Favorable Adopted Second Reading Passed	57 Click to view Recorded Media
House	4/03/2025	3/20/2025	Third Reading Passed (122-15)	60 Click to view Recorded Media
Senate	4/04/2025	3/18/2025	Returned Passed	66 Click to view Recorded Media
Post Passage	4/08/2025	4/08/2025	Approved by the Governor - Chapter 68
			Text - Chapter - Property Tax – Low–Income Housing Tax Credit – Valuation of Property

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Subjects

Statutes