- Title
- Affordable Housing Payment In Lieu of Taxes Expansion Act
- Sponsored by
- Delegates Korman, Fair, Palakovich Carr, and Stewart
- Status
- In the Senate - First Reading Budget and Taxation
- Analysis
- Fiscal and Policy Note
Synopsis
Authorizing an owner of real property used for rental housing and the governing body of a county to enter into a payment in lieu of taxes agreement for maintaining at least 25% of the rental housing units located at the real property as affordable dwelling units for at least 15 years; and authorizing the governing body of the county to require the owner of real property to maintain a higher percentage of rental housing units as affordable dwelling units than the minimum percentage specified in the Act.
Committees
- Opposite:
- Budget and Taxation
Committee Testimony
Details
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Last Updated: 3/13/2025 12:23 PM
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