Senate Joint Resolution 27, sponsored by Johnson, authorizes the allocation of low-income housing tax credits in Tennessee to enhance the availability of affordable housing for residents. The resolution builds on the provisions established in Public Chapter 971 of 2024, which allows the Tennessee Housing Development Agency (THDA) to allocate these tax credits based on a qualified allocation plan. This plan is designed to ensure that at least fifty percent of the credits are directed towards qualified projects in eligible rural areas, while the remaining credits can be allocated to projects outside these areas.

Specifically, the resolution authorizes the THDA to allocate $10 million per year for ten years, starting in 2026, and continuing through 2028. This funding aims to support the construction, rehabilitation, and development of low-income housing projects across the state, thereby contributing to Tennessee's ongoing efforts to address housing needs for low-income residents. The resolution emphasizes the importance of these tax credits as a mechanism to facilitate the growth of affordable housing options in both rural and urban settings.