On February 17, Legislative Director Kevin Kinnally testified before the Ways and Means Committee in support of HB 805 – Building Homes Act.
This bill authorizes local governments to grant, by local law, a property tax credit for specified affordable dwellings supported through nonprofit mortgage financing and long-term affordability protections.
This bill would provide counties with a flexible, locally controlled tool to help close financing gaps and expand access to sustainable homeownership, while ensuring properties remain affordable for at least 20 years.
MACo generally supports legislation that authorizes broad local discretion to offer targeted tax incentives and tax relief, especially when those tools support affordable housing and neighborhood revitalization. HB 805 follows that approach by giving local governments a flexible, optional mechanism to encourage long-term affordability, rather than imposing a State-mandated reduction in local revenues.