Utah Bill Would Create OZ Tax Credit for Parking Structures, Give Housing Preference in OZs

Wednesday, February 12, 2020 - 1:30pm

A bill introduced in the Utah House of Representatives would create a tax credit for building eligible parking structures in opportunity zones (OZs) and make affordable housing in OZs eligible for state programs. H.B. 299 would create a nonrefundable tax credit for 25 percent of eligible construction costs paid for an eligible parking structure in an OZ. The bill would also add OZs to areas eligible for the Olene Walker Housing Loan Fund and would give preference to low-income housing tax credit applications for properties in OZs.