House Bill 1327 aims to amend Tennessee Code Annotated, Section 13-23-134, and Chapter 971 of the Public Acts of 2024, focusing on tax credits related to low-income and affordable housing. The bill emphasizes the importance of providing mechanisms for building, developing, and rehabilitating such housing in Tennessee. It highlights the role of the Tennessee Housing Development Agency in allocating rural and workforce housing tax credits against taxpayer liability, ensuring that at least fifty percent of these credits are directed towards qualified projects in eligible rural areas.

The bill includes specific amendments, such as the deletion of subsection (f) from Section 13-23-134 and the removal of the second sentence from Section 6 of Chapter 971 of the Public Acts of 2024. These changes are intended to streamline the allocation process for tax credits and enhance the effectiveness of the program. The act is set to take effect on July 1, 2025, contingent upon the public welfare.

Statutes affected:
Introduced: 13-23-134