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Ohio Governor Signs into Law Bill With Provisions Opposed by Affordable Housing Advocates

Friday, January 6, 2023 - 2:00PM

Ohio Governor Mike DeWine today signed budget legislation containing two provisions that affordable housing advocates urged him to veto. One provision of H.B. 45 prevents property owners from pairing federal low-income housing tax credits (LIHTCs) with state historic tax credits (HTCs) for the preservation and rehabilitation of historic buildings; as enacted, the new law prevents future twinning of those incentives and also applies to properties in development but not placed in service. Another provision allows county auditors to assess the value of affordable housing properties based on the market rate, rather than their income-based rent ceilings–a change that is expected to lead to higher property tax bills for those properties. DeWine said he will deal with the housing issue more comprehensively in his proposed budget later this month.

Legislative and regulatory issues for affordable housing are among the topics for the Novogradac 2023 Affordable Housing Developers Conference, Jan. 11-12 in Fort Lauderdale, Florida.

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