| Last Action | to Economic Development, Tourism & Labor (S) |
|---|---|
| Title | AN ACT relating to the distribution of federal low-income housing tax credits. |
| Bill Documents |
Bill
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| Impact Statements | Local Mandate |
| Bill Request Number | 491 |
| Sponsor | A. Simpson |
| Summary of Original Version | Create a new section of KRS Chapter 198A to require an applicant for the federal low-income housing tax credit to notify the local government wherein the project is located that an application has been forwarded to the Kentucky Housing Corporation; require the local government to advertise the fact that an application has been submitted and that a public hearing shall be convened on the project by the Kentucky Housing Corporation if requested by an interested party; create a new section of KRS chapter 198A to effect the requirements and to require the Kentucky Housing Corporation to devise a method of providing additional scoring consideration for projects that are received favorably in the community; require the Kentucky Housing Corporation to promulgate administrative regulations relating to these requirements. |
| Index Headings of Original Version |
Taxation, Income--Individual - Federal low-income housing tax credit, application process Housing, Building, and Construction - Kentucky Housing Corporation, federal low-income housing tax credit, application process Local Government - Federal low-income housing tax credit, application process Poverty - Housing, federal low-income housing tax credit, application process Property - Housing, federal low-income housing tax credit, application process Public Authorities - Kentucky Housing Corporation, federal low-income housing tax credit, application process Cities - Federal low-income housing tax credit, application process Counties - Federal low-income housing tax credit, application process Local Mandate - Kentucky Housing Corporation, federal low-income housing tax credit, application process |
| Proposed Amendments | House Committee Substitute 1 |
| Votes | Vote History |
| 02/16/16 |
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|---|---|
| 02/17/16 |
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| 02/29/16 |
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| 03/03/16 |
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| 03/09/16 |
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| 03/10/16 |
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| 03/14/16 |
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| 03/15/16 |
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| 03/18/16 |
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| Amendment | House Committee Substitute 1 |
|---|---|
| Impact Statements | Local Mandate |
| Summary | Create a new section of KRS Chapter 198A to require a person applying to the Kentucky Housing Corporation for a reservation of federal low income housing tax credits to notify the chief executive officer of a local government of that fact; require a notice be placed on a local government website or be published, pursuant to KRS Chapter 424, advising the public of the project for which the person is applying for a tax credit and of the requirement of the local government to convene a public hearing if requested; set conditions for the advertisement and public hearing; require the local government to send a summary of the meeting to the corporation; provide that the failure of the local government to advertise does not prohibit the corporation from reviewing applications; create a new section of KRS Chapter 198A requiring the Kentucky Housing Corporation to establish a method of considering factors, such as the public's input as submitted by the local government upon the conclusion of a public hearing as it relates to the project, location and density of affordable housing, and the disparate impact of the placement of the affordable housing; require the method to be set out in the corporation's yearly allocation plan; establish consequences if applicants fail to notify local governments. |
| Index Headings |
Taxation, Income--Individual - Federal low-income housing tax credit, application process Housing, Building, and Construction - Kentucky Housing Corporation, federal low-income housing tax credit, application process Local Government - Federal low-income housing tax credit, application process Poverty - Housing, federal low-income housing tax credit, application process Property - Housing, federal low-income housing tax credit, application process Public Authorities - Kentucky Housing Corporation, federal low-income housing tax credit, application process Cities - Federal low-income housing tax credit, application process Counties - Federal low-income housing tax credit, application process Local Mandate - Kentucky Housing Corporation, federal low-income housing tax credit, application process |
Last updated: 1/16/2019 3:08 PM (EST)