Digest: The Act makes changes to the tax credit for banks that lend for housing, to allow credit for loans for buyers. (Flesch Readability Score: 76.7).
Expands purposes for the corporate excise tax credit allowed for affordable housing lending. Establishes the Affordable Housing Lender Fund. Allows a tax credit for contributions to the fund with the purpose of assisting certain home buyers.
Applies to tax years beginning on or after January 1, 2026.
Takes effect on the 91st day following adjournment sine die.