Senate Joint Resolution 27, sponsored by Johnson, aims to enhance low-income and affordable housing in Tennessee by authorizing the allocation of rural and workforce housing tax credits. This initiative is part of the state's ongoing commitment to improve housing accessibility for its residents. The resolution builds on Public Chapter 971, enacted in 2024, which allows the Tennessee Housing Development Agency (THDA) to allocate these tax credits based on a qualified allocation plan that adheres to federal guidelines. The plan stipulates that at least 50% of the credits must be directed towards projects in eligible rural areas.

The resolution specifically authorizes the THDA to allocate $10 million annually for ten years, starting in 2026, to support qualified housing projects. This structured funding approach is designed to ensure that both rural and urban areas benefit from the tax credits, thereby promoting balanced development across the state. The resolution underscores the importance of providing mechanisms for the construction, rehabilitation, and development of low-income housing, reinforcing Tennessee's commitment to addressing housing needs for its citizens.