| Summary |
The bill expands the affordable housing tax credit by increasing
the credit amounts that the Colorado housing and finance authority
(authority) may allocate to qualified taxpayers by the following amounts:
•
$20,000,000 for credits allocated in 2024;
•
$20,000,000 for credits allocated in 2025;
•
$20,000,000 for credits allocated in 2026;
•
$16,000,000 for credits allocated in 2027;
•
$16,000,000 for credits allocated in 2028;
•
$16,000,000 for credits allocated in 2029;
•
$10,000,000 for credits allocated in 2030; and
•
$10,000,000 for credits allocated in 2031.
The bill also accelerates the credit by requiring that a qualified taxpayer
claim 70% of the total amount of the credit awarded by the authority in
the first year of the credit period and claim 6% of the total amount of the
credit awarded by the authority in each of the second through sixth years
of the credit period.
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