Please be aware of this bill reducing the state affordable housing tax credit.
This bill just came out yesterday and will be voted on in the Joint Committee on Appropriations and Budget (JCAB) today. This language is not exactly what we had anticipated as it places a cap on the credit for projects that may have already been allocated and may be placed into service prior to next year. It also makes the cap on the credit permanent. Please review the language carefully and feel free to share any feedback with Keili McEwen or your Legislator. Securing the votes to defeat this bill will be an uphill battle.
Please call members of the JCAB Committee (links below) and share with them how this bill will impact your business and ask them to vote no. Please feel free forward to business partners, colleagues, etc. who might also be willing to call members of the JCAB committee.
http://appropriations.oksenate.gov/ (the entire Senate serves on the Appropriations Committee and the Joint Committee).
Also, please be aware of this bill which relates to the Oklahoma Real Estate Code, specifically property management of affordable housing units.
This bill has been assigned to conference committee, but a hearing has not been scheduled. Please review and share feedback on how this might impact your business or the industry.