Sec. 209. Prohibition of local approval and contribution requirements
137 words·~1 min read·
/bill/118/s/680/is/section-209·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Paragraph
(1)of section 42(m) of the Internal Revenue Code of 1986 is amended— by striking clause
(ii)of subparagraph
(A)and by redesignating clauses
(iii)and
(iv)thereof as clauses
(ii)and (iii), respectively; and by adding at the end the following new subparagraph: The selection criteria under a qualified allocation plan shall not include consideration of— any support or opposition with respect to the project from local or elected officials, or any local government contribution to the project, except to the extent such contribution is taken into account as part of a broader consideration of the project's ability to leverage outside funding sources, and is not prioritized over any other source of outside funding. . The amendments made by this section shall apply to allocations of housing credit dollar amounts made after December 31, 2023.