SB 6013- Expanding the homeownership development property tax exemption to include real property sold to low-income households for building residences using mutual self-help housing construction

Expanding the homeownership development property tax exemption to include real property sold to low-income households for building residences using mutual self-help housing construction.

Sponsors: Shewmake, Dhingra, Kuderer, Saldaña

Summary

• Exempts a nonprofit entity for the purpose of selling the real property to a low-income household who enters into an agreement with the nonprofit to build through a qualified mutual self-help housing program, a residence on the real property.
• Clarifies that the exemption expires at the date of title transfer to a low- income household.