June 3, 2026 · Development Committee · 11,497 words · 7 speakers · 116 segments
The House Development Committee will come to order. Will the clerk please call the roll? Chair Hoops? Here. Vice Chair Lorenzo's excused. Ranking Member Brownlee? Here. Here. Representatives Abdullahi? Here. Dean? Dimitro? Fisher? Here. Johnson? Here. Representative Louie has checked in. Matthews? Here. Santucci? Here. Segras? Here. And Upchurch.
Present.
Cool. There is a quorum. We'll proceed as a full committee. I'd like to invite the members to look at the minutes from our May 13th meeting, which is on your iPad. Are there any objections to the minutes? Seeing none, the minutes are approved. I just want to let the members know and also the audience, we will not be bringing up House Bill 291 today for its sixth hearing. We'll be looking at that for the next meeting. But I would now like to bring up House Bill 284 for its fifth hearing, and I call on Representative Santuzzi for a motion.
Thank you, Mr. Chairman. I move to amend House Bill 284 with Amendment 2327-3.
Okay, the amendment is on your iPad. It's in order. You may proceed.
Thank you, Chairman. This amendment permits any state agency that supports a project with state funds to waive the U.S. iron and steel use requirement. It requires the Ohio Facilities Construction Commission to create a standardized waiver form, modifies the requirement that only U.S. iron and steel be used in public construction projects, to specify that the requirement applies only to iron and steel products that are able to be permanently incorporated in a project. It also modifies the definition of iron or steel products regarding sewer products and electrical components. Thank you, Chair.
Thank you, Rep. Santucci. Never knew that there was so much in this bill until you start looking into it. A little bit of a tongue twister there, too, for me. Sorry about that. Is there any discussion on the amendment? Are there any objections to the amendment? Seeing none, the amendment becomes part of the bill. and Ms. Santucci, would you provide another motion?
Thank you, Chairman. I propose we favorably vote out amended House Bill 284 and that it be reported to the Rules and Reference Committee.
With the motion in order, will the clerk please call the roll? Chair Hoops. Yes. Vice Chair Lorenz is excused. Ranking Member Brownlee. Yes. Representative Abdullahi. Representative Fisher. Representative Johnson.
There's still some concerns with the Contractors Association on this bill, and I think that it could use some further looks at it, but I'll support the bill as far as moving the bill, but I still think the bill is not a perfect bill.
Representative Luray.
Yes.
Representative Matthews. Yes. Representative Santucci. Yes. Representative Segrist. Yes. Representative Upchurch. Yes. With affirmative action of 10 votes, the bill is passed. I also ask LSC to harmonize the amendments into a sub-bill. Members, make sure you, if you have to leave to go to another committee, make sure that you sign the document that you voted for the bill. and it will be kept open until noon today and will be available in the clerk office I now would like to bring up I going to since we have most of our members here right now I would like to bring up House Bill 765 for its second hearing, and only because there's an amendment in place and I want to make sure all the members have a chance to look at the amendment and vote on the amendment. And then we're going to go back to the other two bills that are on the docket today for sponsored testimony. And then we'll come back to 765 to do the testimony for that bill. So that's okay with the committee? Okay, good. We have House Bill 765 for its second hearing. I would like to call on Representative Santuzzi for another motion.
Mr. Chairman, I move to amend House Bill 765 with Amendment No. 2655.
The amendment's in order. You may proceed.
Thank you, Chairman. This amendment specifies that the credit amount reserved and awarded is limited to a net equity of 35% of development costs and corrects typographical errors.
Okay. Is there any discussion on the amendment? Are there any objections to the amendment? Seeing none, the amendment becomes part of the bill. Now, we'll stop there with that bill for right now. We'll come back to, I'd now like to call up House Bill 857 for its first hearing and welcome Representative Brownlee and Segrist to the podium. Welcome.
Thank you. And thanks for hearing this bill today, House Bill 857. Chair Hoops, Vice Chair Lorenz, members of the House Development Committee, thank you for allowing us to provide sponsor testimony on House Bill 857, the Housing Recovery Act. Ohio is facing a housing shortage. As you guys know, we're talking a lot about that right now, also with House Bill 765 and 910 that's going to come after us. And in its fiscal year 26 housing needs assessment, the Ohio House Finance Agency, otherwise known as OFA, estimated that the state lacks approximately 202,000 units of affordable housing. At the same time, median gross rent prices have been outgrowing the rate of wage increases at an alarming rate. OFA estimates that around a quarter of Ohio's renters are spending more than 50% of their monthly income on rent. As many of you know, 30% is sort of the identified limit of what people should be spending so that they can afford everything else, food, clothing, etc. So the solution to this crisis is quite simple. We need to build more housing. The work put before this esteemed body today is to identify exactly what is the best way to use state resources to invest wisely in the construction of new homes across the state in order to meet the needs of Ohio families. One route this body explored in the previous budget was through revolving loans issued to local governments In our 2025 operating budget House Bill 96 the state legislature appropriated million to the Residential Development Revolving Loan Program This program run through OFA, is set up to grant low-interest loans to rural counties and townships for these local partners to execute the projects. Once the development is completed, the county or township reimburses the loan to the state, creating a self-perpetuating loop of low-interest loans to support ongoing investment into the building of new homes across Ohio. In practice, however, the program faces a number of administrative burdens due to how the language is crafted in the operating budget. Notably, the program is only available to counties with populations under 75,000 and only available to the local government to apply. At this time, only one application for the program has been initiated, and not one single application has been completed to access the loans. So the money is sitting there, and Ohioans cannot access it. So we just want to fix that program. So our goal with the Housing Recovery Act is to increase utilization of this program while still prioritizing rural development through crucial fixes to the administration of the program to ensure we do not lose these housing development dollars from the budget. The changes that House Bill 857 makes, or at least an overview, is that we would move it to a tiered county applications. So basically splitting the money into thirds and doing it by tiers based on population density in the counties. So we'd have tier one for counties with population density under 100,000. We'd have tier two for those counties with population density between 100,000 and 500,000, and then tier three for higher population density counties. And basically the reason we want to tear it this way is to make sure that housing is being built across Ohio. It's more accessible. The larger counties do have a little bit of an advantage because they've got larger governments so they can access it. They have the capacity to access it, but we don't want large counties to take all of the dollars. We still want to make sure that all Ohioans have a fair chance at homes that they can afford. And then we also want to expand these loans, not just for single home construction, but also allowing loans to be issued for construction of multifamily dwellings and conversion of commercial space into residential space. So this bill does not cost any additional dollars. The money is already sitting there. We just want to make sure that Ohioans and our locals can access it so that Ohioans can get into affordable homes. And with that, I will turn it over to my colleague, Rep Sigrist.
Thank you. Rep Sigrist.
Thank you. Thank you, Chair Hoops, Vice Chair Lorenz, and members of the House Development Committee. Thank you for the opportunity to provide testimony on House Bill 857, the Housing Recovery Act. Ohio is facing a housing shortage that demands thoughtful, effective action and expects our government to focus on the challenges that directly affect their daily lives. And few issues are more pressing than availability and affordability of housing. As policymakers we have a responsibility to ensure tax dollars are used efficiently and effectively to address these needs That means making the most of resources that have already been appropriated ensuring they deployed in ways that deliver meaningful results for communities across our state. One in every four of Ohio homes was built before 1950 and yet it's in 2026 needs assessment the Ohio Housing Finance Association agencies reported that the rate of residential construction is still far below the norm before the 2008 Great Recession. Between 2019 and 2024, Ohio's housing stock grew by 2%, less than half the national growth rate. In 2024, about 179,000 homes were purchased in Ohio, a 24% decline from 2019 and the fewest since 2014. For many young adults achieving home ownership, has become significantly more difficult than it was for previous generations. In the past few years, the median home price in Ohio has reached record highs, outpacing wage growth and making it increasingly challenging for first-time home buyers to enter the market, especially in urban and suburban areas where employment opportunities are concentrated. At the same time, interest rates have reached near record highs, increasing the cost of borrowing and resulting in larger monthly mortgage payments, even when home prices remain unchanged. The American dream of owning a home has become just that for so many of our constituents struggling to get ahead. It's just a dream. The solution to Ohio's housing shortage is straightforward. We need to build more housing. The question before us is how best to leverage existing state resources to encourage the construction of new homes and expand housing opportunities for Ohio families. Rather than creating new programs or seeking additional funding, we should focus on improving the tools we already have and ensuring that the work is done that was intended. As my colleague mentioned, the Residential Development Revolving Loan Program, established in House Bill 96, appropriated $100 million to set up low-interest loans to counties building new housing. Unfortunately, the program's current structure has limited its effectiveness, while the revolving structure of these loans represents a fiscally responsible approach that stretches taxpayers' resources and creates a sustainable source of support for housing development across Ohio. It also places significant administrative burdens on participating jurisdictions. Many small rural counties and townships operate with limited staff, constrained budgets, and little experience managing complex housing development initiatives. Since its implementation, only one application has been initiated, and no loans have been awarded for over $100 million available. So without additional technical assistance and administrative support, communities may continue to struggle to effectively implement housing projects, limiting the program's reach and effectiveness. The Housing Recovery Act seeks to ensure that these already appropriated funds are put to work addressing our housing needs rather than remaining unused. The bill preserves the program's focus on supporting housing developments while making practical administrative improvements that will increase the participation and maximize the return on states investment. By allocating funding across the three tiers of Ohio counties, this program can support the development of more than 2,000 new homes at any given time, providing stability and opportunity for Ohioans across the state. Thank you again for the opportunity to provide the testimony, we're happy to answer any questions that you may have.
Thank you for your testimony. Are there any questions? Representative?
Thank you to the sponsors here on the testimony. I was looking at the bill analysis, and it says not applicable to counties under 75,000 people. That wipes out the majority of all the Appalachian counties of being eligible for the program. Where did that come from?
So through the chair to the representative, actually it's tiered so that counties under 100,000 in population density will have their own pot. So we do not want to cut rural communities out by any stretch of the imagination. We actually want to divide this revolving loan fund so that communities of lower population density, middle population density, and higher population density all have access. We absolutely want to make sure that our rural counties have this access. It is harder for new housing and more expensive for new housing to be built in lower population density counties. So we want to make sure that it's tiered out and that when – so this is a revolving loan program. The money is loaned out at very low interest rates. It then comes back into the system to perpetuate itself. And in the bill, the way we wrote it, is that the Department of Development, who would oversee this, could reconfigure and rejigger, for lack of a better term, the monies that come in to make sure that that tiered approach does not get out of balance. Because if we have more development happening at the higher population density counties, of course they're paying it back more and more, and that interest rate could compound and actually put it out of whack where there's more money in the tier three. We want to make sure that that money can be re-dispersed so all three tiers have equal amounts. Did I answer that correctly?
Follow-up, Rep. Johnson's follow-up. So I was looking at the bill, and it does show the three tiers, and it does list under $100,000. But the bill summary doesn't say that. But anyway, so we've got three equal pots of gold here. One-third, one-third, and one-third. Is that correct?
Correct.
Yes. And the poorest of the poor have this one third.
Through the chair. Yes, that is correct. And the wealthier counties get a third.
Through the chair. Yes, that is correct. But again, set up so that the Department of Development can ensure that the money pots for each tier stay equal.
rather than getting out of whack where the higher population density, because of the interest rates, because of potential higher activity, could end up with more money being able, giving the Department of Development the capacity to move funding to make sure that these rural counties do not end up getting all their money sort of whittled away and put into larger counties.
Follow up. So we're going to depend on the Department of Development to administer this program, correct?
Through the chair That is the way the bill is written We of course you know that how it is happening now The interest rate is the same across all three levels Yes You know the poorest of the poor they don I don know if they could build a house
There's a lot of people in my district that don't even have a house. They're living in an old trailer that's pretty meager. But, you know, I was just concerned if you really want to help the poor, I think that should be somehow they should be given a break and somehow make this program better.
Through the chair, I think we would be open to talking about that. What we don't want to happen is for this money to just be lost during the next budget cycle because it has not been accessed. So absolutely open to to work on that.
Are there any other questions? All right. Thank you for your testimony.
Thank you.
I'd now like to bring up House Bill 910 for its first hearing. I welcome Representatives Upchurch and Abdullahi to present their testimony.
Good morning, thank you Chair.
Welcome.
Thank you. Chair Hoops, Vice Chair Lorenz, Ranking Member Brownlee, and members of the House Development Committee, thank you for the opportunity to provide sponsor testimony on House Bill 910, the Mortgage Stability Act. Home ownership remains one of the primary ways Ohio families build stability, create generational wealth, and invest in their communities. Yet for many hardworking Ohioans, and temporary financial hardship can quickly threaten that stability. A missed paycheck, a medical emergency, an unexpected car repair, the loss of a loved one, so on. These challenges can force families to fall behind on mortgage payments, placing them at risk of foreclosure even when they have spent years responsibly paying their mortgage and maintaining their homes. This bill creates the Save the Dream Ohio program within the Ohio Housing Finance Agency, OFA, to provide limited, targeted mortgage assistance to eligible homeowners who are behind on their mortgage payments and at risk of losing their homes. It authorizes OFA to use up to $10 million made available to the agency to administer the Save the Dream Ohio program. This bill will allow grants of up to $3,000 annually for qualifying homeowners earning $75,000 or less and who have maintained residency in their homes for at least five years. This legislation is based on a simple principle. Preventing a foreclosure is far less costly than dealing with the consequences after it occurs. House Bill 910 is not intended to be a long-term subsidy program. It is a safety net designed to provide short-term assistance at critical moments when a relatively modest investment can prevent a much larger crisis. This bill also reflects a commitment to fiscal responsibility and a commitment to Ohioans. Assistance is limited, eligibility is targeted, and administration is placed within an agency that already has expertise in housing programs and homeowner assistance. As housing costs continue to rise across Ohio, as property taxes continue to rise, more families find themselves on one unexpected expense away from serious financial distress. This legislation is just a practical tool to help Ohioans stay in their homes, maintain stability, and continue contributing to the communities that they have helped build. At its core, this bill recognizes that a temporary setback should not automatically result in the loss of a family's home. Thank you for your consideration, House Bill 910. I will turn it over to my co representative uptridge and then we be answering questions Thank you Okay thank you Thank you thank you All right good morning
Chair Hoops, Vice Chair Lorenz, Ranking Member Brownlee, and distinguished members of the House Development Committee, thank you for allowing me the opportunity to provide testimony for House Bill 910. I also want to thank my joint sponsor, Representative Abdullahi, for her support on this bill. House Bill 910 will create the Save the Dream Ohio program, which will provide grants to low-income homeowners who are behind on their mortgage payments. This bill will address the affordability crisis by helping families avoid foreclosure and remain in their homes. My office has received numerous calls from constituents, many of whom are on fixed incomes and can no longer afford to stay in their homes. Affordability has become an issue across the state as the price of everyday necessities such as gas, groceries, and electric utilities continue to rise. Our current economy is not working for many Ohioans, and it is vital that we find real legislative solutions to address the affordability crisis. This legislation is proactive because it creates a necessary emergency fund so that we can prevent foreclosure and eviction. House Bill 910 will benefit homeowners who are currently delinquent on their mortgage if they have lived in their homes for at least five years and receive an annual income of less than $75,000. These measures ensure that the program helps those who absolutely need it and ensure that the distribution of grants are fair and balanced. We can't afford to allow families to foreclose on their homes, which will create an additional cost and burden for our court system. It is vital that we enact preventative measures to help stabilize the economy and prevent further financial fallout for Ohio families. I urge your support for House Bill 910, and I'm willing to answer any questions. Thank you very much.
Are there any questions? Ranking Member Brownlee?
Through the chair, thank you. Thank you for your sponsor testimony. Can you talk a little bit about the construction of the bill, especially why it is created for people who have been in their homes already for several years and how that impacts the stability of the program?
Sure. Well, thinking about my district up in Cleveland, there is somewhat of a housing crisis. And this bill, I thought about this bill in terms of what can we do to stop the bleeding, and I think that this is a very necessary measure. Because I have a large concentration of seniors and low-income families in my district, and they are struggling to stay in their homes with the rise of property taxes and just the cost of everyday living going up. But again, we wanted this to be fair and balanced. and you know this is not a slush fund there are qualifications that need to be met and the max that family could receive is three thousand dollars from this grant. Follow up? So just in essence this is for those people those seniors
in particular who have done everything right but are facing hardship because of the economy around them is that is that basically what we're looking at here?
to the chair to represent, that's correct. The reason why we have the five year requirement is that they've demonstrated a commitment to that home, they demonstrated that they able to invest in that home and they have a hardship after five years They also invested in that community and are now part of that community We don want them to be uprooted So that's the reason why we have that five-year residency requirement, and yes, to support seniors who have been in their homes for longer than that.
Where did the $3,000 amount come from? Is that just a number that, or is there some type of study that was shown that that would?
I'm trying to remember where that $3,000 came from. I think it came from Senator Reynolds' bill, and we had a conversation about it, and they did some research. It was generally she did the research on a lot of the components of this bill, and then we just kind of reflected a little bit more on how that could better serve constituents that we represent. But originally that number came from Senator Reynolds, and I have to find out where the number exactly came from. I'll get back to you on that.
Okay. Now, a homeowner, you said up to $3,000 a year. Up to $3,000 a year.
The next year, can they get another $3,000, or is it just a one-time? I was trying to...
It is annually. Okay. So they could get another $3,000 the next year if they apply? Potentially. Okay. If they apply for the grant and they are approved.
I think we do need to look a little bit more on making rules with OFA on proving financial hardship potentially. So that's definitely a conversation that I think we need to have a little bit further.
Okay. Now, the hope is – I'm sorry, Chair.
The hope is that once one has applied for this loan and they've gotten the money this one time that they don't have to come back. Again, this is a safety net. it should be there to help get the homeowner back on track. I think we all can agree that purchasing a home is a process, right? You have to have a certain credit. You have to have the down payment. There's several steps. So I think purchasing a home does demonstrate some financial responsibility, right? So, you know, we all encounter hardships at some point, but the hope is that once one applies for the loan and they're approved, not the loan, I'm sorry, the grant.
Oh, okay. Yeah, sorry. Once one applies for the grant and they're approved,
that they don't have to come back. And let me be clear, it is up to $3,000. That's not guaranteeing that every time one applies, they're going to get $3,000.
Okay. Thank you.
Question with Representative Johnson.
Thank you guys for this bill. I've been looking through the bill and looking through the summary here. Home value is not mentioned in there, and nor is home equity lines of credit. you know, that's considered a mortgage in the government's eyes. And, you know, I could be living in a million dollar home that's worth over a million dollars and take me out of a line of credit. And as long as I'm retired and not making more than $75,000, I can get three grand popped over to me and do the same thing next year with my personal line of credit. Right. So, I mean, I think we could use some more guardrails in here also if we're really, truly trying to help the situation and the poor. And then another thing is a lot of seniors are well under the $75,000 range. And so, you know, $10 million really isn't going to go too far when you divide $3,000 into it and trying to help this situation out. So that's my questions.
Yeah, no, I think that's a very good point. And I think we can both agree that what we don't want is to see this program be such to abuse, right? Because you're absolutely right. I mean, there is a scenario where that could possibly happen. So I'm certainly open to any sort of ideas to make this bill better. I mean, you know, it's certainly not a perfect bill. If there's ideas or suggestions for possible amendments, I would say that me and my colleague are certainly open to that too.
Any other questions? Seeing none, thank you for your testimony.
Thank you.
I now would like to go back to House Bill 765, again, for its second hearing. And I'd like to call up Kevin Nowak with the CHN Housing Partners. Kevin, welcome.
Good morning. Thank you for having me. Chair Hoops, Vice Chair Lorenz, Ranking Member Brownlee, and members of the House Development Committee, Thank you for the opportunity to provide proponent testimony on House Bill 765. As the chair mentioned, my name is Kevin Nowak, and I am the CEO of CHN Housing Partners. We are a nonprofit affordable housing developer, housing service provider, and residential lender, working to improve housing affordability and preserve and expand the supply of affordable housing in Northeast Ohio, across our state, as well as in the Detroit and Pittsburgh markets. CHN is a member of NeighborWorks America and NeighborWorks Collaborative of Ohio. We've developed thousands of rehab and new construction homes for sale over time and are owned nationally for that work. The Ohio General Assembly created the single-family tax credit to help close two gaps between the cost of building and rehabbing affordable homes. One is what those homes can sell for in the market, or two, what the average first-time homebuyer can afford. It was wise for the Ohio General Assembly to create the single-family tax credit because two acute inventory constraints in Ohio are barriers to people becoming homeowners. First, in some communities, construction costs exceed appraised values, making homeownership development financially infeasible even where demand is strong. And two, the average families seem to become homeowners oftentimes cannot afford the cost of construction of that new or rehabbed home. Unfortunately, the program has not attracted investors and tax credits in the way intended, due to some technical issues and structural challenges. This is a real shame because the single biggest issue preventing the over 100 potential homebuyers that our nonprofit mortgage company believe mortgage has qualified since the beginning of the year from becoming homeowners is the availability of quality starter home in a price range that they can afford. House Bill 765 makes targeted practical improvements to this program so it can function more effectively in real-world housing finance markets and attract significantly more private investment into Ohio homeownership development. It does not change the core purpose of the program. It strengthens the program so it can deliver more homes more efficiently in communities across Ohio. The following is an overview of technical changes to the single-family tax credit program. First, the changes create a more financeable tax credit structure. HB 765 modernizes how credits are certified, transferred, and utilized so that they better align with the way single family home ownership development actually works and how other state tax credits are administered. Under the original structure, investors faced concerns about timing and usability of the credit, which reduced demand and weakened pricing. HB 765 improves transferability and better aligns credit delivery with home sales and project completion creating more liquid and marketable tax credit This matters because it improves investor certainty increases market demand for the tax credit and brings more private sector equity into housing production by maximizing the tax credit value. Second, the changes allow a unit-by-unit tax credit certification. One of the most important changes in HB 765 is making certification more explicit and practical by allowing credits to be tied to the completion and sale of individual homes rather than requiring an entire portfolio of homes to be completed and appraised before credits can be certified. Single-family development happens on a flow basis. Homes are built or rehabbed and sold incrementally, not all at once. Additionally, a developer needs to understand what its purchase price is likely to be before it begins production of the unit, so it understands its risks up front, not after the unit has been built. This matters because it allows capital to recycle faster into additional housing production and better reflects real-world single-family development economics. Third, the changes improve credit predictability and target subsidy more efficiently. HB 765 clarifies how the credit is calculated by tying it to the lesser of 35% of the development cost or the amount necessary to fill the affordability or appraisal gap. With this clarification, the credit can be utilized to support single family development and rehab across the state, addressing unique market needs in urban, suburban, and rural Ohio. Whether it is too expensive to build a home affordable to a teacher, police officer, or healthcare worker in a suburban or rural Ohio, or local property values do not support the cost of rehab of a home in an urban area, the credit now has flexibility to address all those needs. The bill also moves toward a more dwelling-specific methodology, improving underwriting certainty and ensuring credits are targeted to actual financial gaps. This matters because it is a better stewardship of state resources by more precise subsidy targeting, provides more predictability and underwriting for investors, lenders, and developers, and allows for the credit to clearly be used to address the unique circumstances of all communities across Ohio. Fourth, the changes reduced risk that discouraged investors from investing in the tax credit and developers from producing homes. HB 765 better aligns compliance and recapture responsibilities with the parties that actually control those activities. Under the original structure, investors and developers could face risk based on homeowner actions years after a home was sold, something market participants identified as a major barrier to participation. HB 765 narrows and clarifies those responsibilities while preserving affordability protections. This matters because it removes a major barrier to investor and developer participation, making the program more financeable, and creates a more practical homeownership compliance framework, which preserves accountability while reducing unnecessary risk. Fifth, the changes improve program usability through administrative and structural fixes. HB 765 shortens the affordability from 10 to 7 years, simplifies reporting and administrative requirements, and provides greater flexibility for credit transfers and tax usage. These changes make the program easier to administer and more competitive with other housing incentive programs. This matters because it simplifies the administration of the program for OFA and market participants, decreasing costs and making the homes more marketable. It also broadens the pool of credit purchasers while making the program more attractive to institutional investors. HB 765 in summary is a technical but critical refinement that makes Ohio single tax credit more workable more financeable and more scalable By addressing investor concerns, improving liquidity, clarifying certification, and aligning the program with how single-family housing is actually built and sold, HB 765 will help Ohio attract more private capital and produce more affordable homes for working families across urban, suburban, and rural communities. HB 765 strengths a promising housing production tool so it can deliver on its original promise, more affordable homeownership opportunities in Ohio. I'm happy to answer any questions you may have.
Okay, thank you for your testimony. Questions? Representative Demetrio.
Thank you, Mr. Chairman. Thank you, Mr. Nowak, for your testimony. So does this bill limit the eligible developers who are able to capture this tax credit to only nonprofits, or is it expanding it to include nonprofits, and will it still allow for-profit developers to be eligible for this tax credit?
Sure. Through the chair, to the representative, yes, so it expands those that are eligible developers. So in the original legislation, it was limited to government entities, effectively. It expands eligible developers to nonprofits and also entities that are partnerships of nonprofits. It could be also a for-profit within that structure. So it expands to allow for nonprofits to be involved, and then also, if necessary, to have a partner in the deal to produce more units.
Follow-up? Thank you, Mr. Chairman. Thanks for the clarification. So I guess as it's written today, the policy, separate from this bill, theoretically for-profit developers aren't – the partnership model isn't available today. Is that what you're saying?
Through the chair. It's only government entities. So it's government entities, yeah. So the way that the current bill is set up really puts a government entity in charge of running these deals. You know, they can work with nonprofits or for-profits to build, right? What this allows for us to do is really to put this into the private sector, as opposed to only the public sector be involved. It moves it to the private sector where housing development actually takes place.
Okay.
Ranking Member Brownlee.
Through the chair, thank you. Thank you for your testimony. So two questions, if I may. And the first one is, with this bill now capping the credit at 35%, is that for the total development cost, are developers actually going to run into that limit with the affordability gap that's happening right now?
Through the chair, to the representative, yes, it's possible. You know, it really depends within the market and what type of unit is being built. So there were a couple of reasons why, looking at this bill, we tried to clarify kind of what the limits were, right? So we wanted to have kind of an overall limit. So we know that a top-level limit, you know, established as the 35% of development cost. Then secondarily, we wanted to be able to then fine-tune to the individual projects. So some of those projects will be different. Some of the units will need less subsidy. And really what then we would fall into is whether a developer is trying to address what's called the appraisal gap, which is in communities where the kind of construction costs are in excess of what the appraised value of the home would be And then or secondarily the affordability gap where if you producing a home and it costs you but a qualified buyer can only afford a home that that how you be able to fill that gap
Follow-up?
Thank you, Chair, and thank you for that answer. The second question on a slightly different tack is with the unit-by-unit tax credit certification, How is that going to impact the administration, the application process? Is that going to become very burdensome to, you know, I'm thinking like smaller developers that maybe don't have the capacity to manage all of that work?
Sure. To the chair, to the representative, when we created the unit-by-unit certification, it was for the benefit of developers. Because currently, in the current law, it provides that small developer, large developer, whoever it was, right? So they would have to produce all, if there was a 30-unit project, they'd have to produce all 30 units, then appraise it, and then they could see what tax credits they had available, which created just a real problem from a liquidity perspective, as well as a certainty of your ability to kind of recapture your investment. So what this allows for those developers to do is to be able to, you know, on a unit by unit basis, because developers are building and they're selling those units, right? We call it on a flow basis in the industry, right? So they're on a flow basis, and so we want that developer to be able to capture those resources that are filling the gap as soon as possible. So it's a benefit for developers. Follow-up?
Through the chair, thank you. And thank you for that. Does that change, though, in the administration? Is the trade-out in exchange for the administration of the program, does it benefit certain developers more than others?
Through the chair to the representative, I think it benefits all developers equally. Those that have less liquidity, so like less cash, maybe help more, I guess, because everyone will be on an even playing field. You can get that tax credit more quickly. When we think about the administration of it and some of the flexibility we've provided, there is a time frame within which OFA would have to issue the tax credit. And for OFA, what that window we have created allows for is for them to actually bundle those tax certificates together to also help them from an administrative burden perspective so they aren't having to create too many certificates individually. All right. Thank you for your testimony. Thank you. Appreciate it.
Next, we have Adam Blake with the County Corp. Welcome.
Thank you. Chairman Hoops, Vice Chair Lorenz, Ranking Member Brownlee, and members of the House Development Committee, thank you for the opportunity to provide proponent testimony on House Bill 765. My name is Adam Blake. I serve as Vice President of Housing at County Corp with a nonprofit development corporation for Montgomery County, Ohio. We're founded in 1979 as the first county created housing and economic development nonprofit in Ohio. County Corp was established to carry out development activities for the county. For more than 40 years, we've worked to strengthen the Dayton-Montgomery County region by delivering affordable housing and youth development. ... programs that create lasting impact for our residents. Through that work, we see both the demand for homeownership opportunities and the barriers that make those opportunities difficult to deliver. Ohio cannot solve its housing shortage through public dollars alone. To meaningfully increase supply, particularly for first-time and workforce homebuyers, we must have financing tools that attract private investment at scale. House Bill 765 is a necessary step to make one of Ohio's key tools, the single-family tax credit, function in the real world. In many communities like Dayton, the economics of building new single-family housing simply do not work with a gap subsidy because it costs significantly more to build a home than it can be sold for. That gap in our region is often around $100,000 per home. This challenge became especially evident following the Memorial Day 2019 tornadoes that devastated neighborhoods in Dayton, Harrison Township, and Trotwood. In response, County Corp launched the Pathway to Homeownership program to help displaced renters become homeowners. Using CDBG disaster recovery funding, we built new homes on vacant infill lots and marketed directly to FEMA-identified tenants who'd lost their housing. In the first phase, we successfully constructed and sold 19 homes to first-time homebuyers, leveraging public funding alongside local donations and volunteer support. These families, many of whom had been renters, were able to transition into homeownership, creating a pathway to long-term stability and generational wealth. The program was recognized at both the state and national level as a best practice in long-term disaster recovery, but despite that success, the underlying financial challenge remained. The cost to build far exceeded what the market would support. That is why we were excited when the single-family tax credit program was introduced. In theory, it offered exactly what was needed, a scalable way to fill the development gap and allow organizations like ours to expand this work into neighborhoods that have not seen new single-family investment in decades. County Corp Applied Forum was awarded single-family tax credits. However, we were unable to find any investor willing to participate under the current structure. The issue was not affordability requirements. We could navigate those. The issue was that the credit, as structured, did not provide a rate of return or a level of certainty that attracted private capital. As a result, the time and resources we invested into applying for and receiving the credit has not translated into any housing production to date. Without investors, the program cannot work. This experience highlights the core issue House Bill 765 addresses, the need to align the program with how the private market evaluates and utilizes tax credits. House Bill 765 makes targeted practical changes that would transform the single-family tax credit into a usable, financeable tool. Importantly, the bill improves the transferability and timing of the credit, allowing investors to realize value earlier and with greater certainty. It enables the credits to be issued on a unit-by-unit basis, which is critical for single-family development, where homes are built and sold incrementally. The bill also clarifies compliance responsibilities ensuring that long term risk is not placed on investors or developers for actions they cannot control years after a home is sold Finally, it refines how the credit is calculated, tying it directly to actual development costs or the financing gap, which improves predictability and ensures efficient use of resources. These changes are essential to attracting investor participation and making the program viable. Even without a functioning tax credit, we continue to push this work forward. In 2025, County Corp received a $1.3 million donation from Wright-Pack Credit Union's employee-funded Sunshine Fund to continue building in the Fairview neighborhood in northwest Dayton, building on the investments of partners like Omega CDC and Learn to Earn Dayton. We've completed our first five homes under this phase, with three sold and two under contract. Our goal is to build 30 homes. Under the current structure, each home still carries a significant financial loss due to that development gap. If the single-family tax credit program worked as intended, we could pair those philanthropic dollars with tax credit equity to significantly expand our impact. Instead of 30 homes, we could deliver approximately 45 homeownership opportunities using the same base funding. That is the difference a functional program can make, not in theory, but on the ground. House Bill 765 does not change the mission of the single-family tax credit. It makes it functional. It reflects real-world feedback from organizations like ours that are actively building housing and trying to bring private capital into underserved communities. It preserves affordability goals while making the program attractive enough for investors to participate. Ohio needs a single-family tax credit that functions in practice, one that supports nonprofit developers, attracts private investment, and expands access to homeownership for families who need it most. House Bill 765 is a critical step toward that goal, and I urge this committee to pass the bill. Thank you for your time and consideration. I'm happy to answer any questions.
Okay. Are there any questions? You know, one of the things, you know, with the tax credits, because I know one of the issues was you weren't going to receive the tax credits until the project was complete. And if I remember right, the reason for that is you wanted to make sure that the project got completed first. What, you know, you kind of talked about it, but how do we make sure that, you know, somebody doesn't, you know, you get the credit, but then they just, they don't complete the project?
By certifying a certificate of occupancy.
Okay. I'm sorry. Yes, to answer your question. Okay. All right. Are there any other questions? Seeing none, thank you for your testimony. Next, we have Tony Long with the Ohio Chamber of Commerce. Welcome.
Thank you, Chair Hoops, Ranking Member Brownlee, and members of the Development Committee. Thank you for the opportunity to present proponent testimony in House Bill 765. on behalf of the members of the Ohio Chamber of Commerce. My name is Tony Long, General Counsel for the Ohio Chamber. In a previous life, I lived a plan-do-check-act continuous improvement project world for every project. House Bill 765 is the act portion of that project. The 134th General Assembly that was their effort to address some of the housing concerns and shortages in Ohio with a new program called the Single Family Tax Credit As the sponsors stated in their joint testimony the SFTC has only attracted four projects totaling less than million in tax credits for a program that set aside about million per year for four years So using that PDCA cycle for this project of building more houses, the due portion of the cycle kind of fell short. We didn't allocate the money. I view House Bill 765 as that check portion to allow us to try to unlock that allocated money. In its original form, the SFTC tried to model the rental housing tax credit programs. programs. A 10-year credit delivery period does not work for a single-family home dynamic where owners of homes churn quicker than owners of rental properties. In recognition of this difference, House Bill 765 moves the credit to a more marketable certification and transfer structure, moving away from the 10-year credit period to claiming the credit directly in the tax year of the certificate as issued. The certificate is fully transferable, meaning other qualified investors can immediately use the credit to offset eligible taxes. This broadens the pool of investors that in turn improves pricing and liquidity of the tax credit market. The other witnesses and the witnesses that follow me will go over other details of this program, so I'm going to skip a few of my paragraphs and kind of just conclude that the Ohio Chamber of Commerce thanks the sponsors for wading into this complex world of housing tax credits to improve the single-family tax credit program. Hopefully its passage will unlock the allocated dollars and produce more housing stock for Ohio. Thank you for the opportunity to testify in support of 765. The Ohio Chamber of Commerce urges its passage. With that, I'm happy to answer any questions the committee may have.
Thank you, Mr. Long. Are there any questions?
I'm sorry, thank you, Member Brownlee. Thank you, Chair. Thank you for that testimony. And I'm going to ask you a general question because I think you've got a lot of history and understanding of how this all worked. What is the impact that our housing shortage, I mean, homes that people can afford and get into to live, is having on our business community, on Ohio's economy?
Through the chair, to the representative, that's a very good question. We view all the economic development that's happening is kind of doesn't reach its full potential without the housing needed for people to go home when the jobs end at night or at the end of the day if they're in third shift. So we view the lack of housing stock and affordable housing as a critical detriment to more economic development. So we need the housing to also lower the economic development, and people don't want to drive an hour to get to the jobs. So we have now put in place certain programs, like the REDD program, where we're now looking at making sure there's money for housing around economic development areas. So I think, you know, all of these pieces for the housing, I think, are critical to continue to drive Ohio's economy and provide housing for the workers.
Follow-up? Through the chair, thank you, and thank you for that answer. With you also have a very good Mr Long you have a good understanding of how long it takes to get programs built legislation passed And with that would you say that we do have some good answers with the single family tax credit with the rural revolving loan programs that are there? They're just not being administered in a way that's functional for Ohio and that housing gap right now.
Through the chair of the representative, I think you have an array of programs available and maybe some better coordination of seeing all of those pieces put together and someone or an agency kind of marshalling those would be helpful so that you could stack things where you need to stack things. put people, the resources that maybe they're needed that they're not aware of. And obviously we think obviously more resources would be helpful as well.
Representative Segras. Thank you from the chair to Mr. Long. Do you think we've found a root cause and that there's nothing missing from this solution or the countermeasures here to address the issue at hand? Do you think there's nothing missing? Do you think if we do this, this truly will ignite the fire and get this going?
Through the chair, Representative, there's a lot of inside baseball going on here between the two of us. But to answer the question, Representative, I think for this program, I think 765 does get to the root cause of trying to make sure that we fully allocate those dollars. I think with immediate certification, going down to single unit versus waiting for the project to be done, I think all of those things will be useful. But happy to continue the process of plan, do, check, and act.
Thank you, sir.
Okay. Any other questions? Mr. Long, thank you for your testimony. Next, we have Catherine Couthon. Oh, that's written only testimony. Okay. Okay. Catherine's not here. I want to make sure. Okay. Norm Miozzi. Did I get close?
You're close. So good morning, Chairman Hoops, ranking member Brownlee and Vice Chair Lorenz. I have to make sure I say that too. And members of the committee. My name is Norm Miozzi. And I serve as Executive Director for Habitat for Humanity of Greater Dayton, serving Clark, Green, and Montgomery counties. I also serve as Vice Chair of Habitat for Humanity of Ohio, which is a statewide organization that supports the work of the 40 Habitat affiliates across Ohio. So thank you for the opportunity to provide proponent testimony in support of House Bill 765. And first, I do want to commend the Ohio General Assembly for creating the single-family tax credit program in 2023, with the aim, of course, bolstering the production of workforce housing for Ohio families. I also want to thank Representative Andrea White for working closely with the nonprofit community and to ensure that House Bill 765 removes the barriers to accessing and utilizing this critical financial tool. You, of course, have heard some testimony that actually puts some credence behind that, but obviously House Bill 765 will support Andrea White. Increase the production of workforce housing by strengthening incentives for investment in affordable single-family housing development. It expands homeownership opportunities for working families, first-time homebuyers, veterans, seniors struggling to afford the rising housing costs. It also helps to leverage the public-private partnerships that encourage nonprofits, builders, lenders, and local communities to work together to address these housing shortages. And, of course, to help close Ohio's housing gap, making it more financially feasible to develop homes that are attainable for middle- and lower-income families. And homeownership does remain out of reach for many Ohioans due to rising construction costs, interest rates, limited housing inventory. And House Bill 765 helps to create the financial tools necessary to increase the supply of workforce housing statewide and help Ohio experience their version of American dream. I was privileged to hear a presentation from the Home Builders Association a few days ago where they said since in the last five years, the hard costs for new construction have risen almost 50 percent. It's 40 some percent. So when you take those numbers into account, that's just one of the factors that, of course, all you are aware of that makes it less and less attainable for families to purchase homes. Since 2010, Habitat for Humanity of Greater Dayton and other affiliates across Ohio have built, preserved, and renovated more than 6,500 homes across the state. 2,000 of these were newly constructed homes. Habitat for Humanity could significantly increase new home production by utilizing these tax credits to bolster existing private and corporate donations. Every dollar invested by the state of Ohio would be matched three to one, as evidenced by the Ohio Department of Development March 10, 2026 State of Ohio Monthly Financial Report from the Office of Budget Management, which highlights Habitat for Humanities of Ohio's successful deployment of the American Rescue Plan Act funding that this assembly was part of allowing us to receive that award. I would be remiss if I did not take the opportunity to thank you for the investment of $25 million that enabled Habitat affiliates across Ohio since the inception of that program about three years ago to build 300 new homes for Ohio's workforce and also provide 1,000 critical repairs for elderly and disabled homeowners, which actually is one of the more important pieces of this. By preserving homes, we not only help that family, but we keep those homes viable as affordable opportunities for families in the communities we serve throughout Ohio. So I thank you for your time today and your consideration to support House Bill 765. I'd be happy to answer any questions that you may have at this time.
Okay, thank you for your testimony. Are there any questions?
Ranking Member Brownlee. Through the chair, thank you. Thank you for that testimony. And I going to put you on the spot if you don have the information This is just truly out of curiosity When we keep people in homes or get people into homes that are stable safe you know affordable what financial impact or savings do we see in the local, the state economy?
Yeah. So through the chair to the representative. So what we see, I can speak to what we see from Habitat for Humanity's point. So number one, of course, the home provides the financial stability. Because the model that we typically use, we're able to provide a 0% mortgage for families. What that results in is usually a house payment where they're purchasing the home that is lower, significantly lower than their rent payment was. Rents in Dayton are around $1,200, $1,400 a month. A typical habitat home purchase is anywhere from about $650 to about $900 a month for the house payment. So you think about the disposable income that that makes or that allows that family to have some flexibility with. It provides stability to the community because, again, all we do is homeownership. We don't do rentals. Not that rental is an important part of solving the problem, but we focus on homeownership. Another example, if I may, we work in one neighborhood of Dayton. It's called Edgemont as a community. Edgemont's an area that's seen with severe redlining, severe disinvestment. Habitat for Humanity focused its efforts in Edgemont. We built the first new home in Edgemont in 70 years, according to homeowners who have lived in this neighborhood that long. that house when we first built it, you've heard the numbers, costs $250,000, $300,000 to build. The first house was appraised for $125,000. So the gap, right, is what we're talking about funding. Now, we've built houses, House 2, 3, and we're working on House 4. House number 2 appraised for 180, House number 3 appraised for 185. So impact on the community is we see appraisals going up. We intend to keep that going. It also has allowed, and we have stories verifiable on this, has allowed families in the neighborhood to get home equity loans because their home values with that improvement are now supported by the increasing appraisals. It has a lot of effect on the communities, especially the ones that serve the low to moderate income families. Certainly.
Well, thank you for your testimony, and also thank you for the work that your group is doing across the state of Ohio.
Oh, I'm sorry. Rep Segrist. No, I'm just affirming.
I'm just sorry. Okay. All right. Thank you. Amen. Okay. Thank you for your testimony.
Thank you. It's a privilege, and thank you for your support.
Now I'd like to bring up Tori Hollinsworth with the Ohio CDC Association.
Good morning. Welcome. Good morning. Thank you. Chair Hoops, Ranking Member Brownlee, and members of the House Development Committee, thank you for the opportunity to testify this morning and provide proponent testimony on House Bill 765. My name is Tori Hollingsworth. I'm the executive director of the Ohio CDC Association. We a statewide membership organization representing more than 250 locally based rural and urban nonprofit organizations including many of the folks you heard from this morning that work to rebuild neighborhoods expand housing opportunities and help Ohioans build wealth and improve their quality of life. Our members revitalize distressed communities by building, rehabilitating, and preserving affordable homes for Ohio families. They work in every corner of the state, from Ohio's largest cities to its smallest rural communities. And while the housing needs of these communities may vary, our members consistently report the same challenge. The cost of developing quality housing continues to outpace the available financing resources. As an association, we were proud to support the continuation of Ohio's housing development tools in the last biennial budget, including the Welcome Home Ohio program and the single family tax credit. These programs recognized an important reality facing communities across Ohio. In many markets, the cost of constructing or substantially rehabilitating a home exceeds what the home can ultimately be sold for, as Norm, I think, really clearly illustrated in his example. I'll skip a couple portions of my testimony. I think you've heard from other folks why this bill will address a number of the challenges that we and our members have seen in the attempts to use the credit throughout the state. But I really want to underscore the point that I think many of the folks who've testified has made, which is that community development corporations really help to build the market for private developers and private market activity to step back in. So taking strategic losses, being willing to work in neighborhoods where there has been very little private construction or private activity construction or even private sales in many years is ultimately setting the stage for folks to be able to come in, purchase homes, and grow wealth over time. And we think that the changes in House Bill 765 will really create new opportunities for CDCs to be able to utilize this tool that's really flexible and applicable in many different parts of Ohio. So I appreciate the opportunity and happy to take any questions.
Okay, are there any questions?
Representative Abdu-Flaahi. Thank you, Chair. Thank you for coming and testifying and to everybody for coming and testifying. If this bill was passed, do you foresee that funders would be more likely to work with developers and that in general investment will increase? Through the chair to the representative. Yeah, absolutely. As we have talked to members who received tax credit allocations, we know that there's no shortage of demand. And that even some of the conversations with potential investors were positive. but once they really dug into the details of the tax credit structure, that's where things started to fall apart. So we really do think that these technical changes to the bill will create, will really unlock a lot of new opportunity and hopefully see pretty substantial housing production. Thank you for that. We definitely need that. Appreciate it.
Representative Segras. Thank you, Chair Hoops, and thank you so much, and thanks to everyone that does work in this space and coming up and testifying, this problem is no small thing. So the question then is, is there anything else that we could do to help this bill? Do we need other bills? What can we do to help in this space? You guys are boots on the ground.
Is there things that you can help us understand what we might need to do Through the chair to the representative Well I appreciate the question We are very comfortable with this bill in terms of what it will do to make the single family tax credit usable We certainly think that there are more tools needed. Um, you know, the, the need for subsidy in this space is large and like several of the, um, other folks who have testified have mentioned different markets in the state have different needs. Some folks, uh, you know, some markets where it's very expensive, um, to, uh, you know, homes are selling at a really high price need the affordability subsidy. And in some parts of the state where the housing market is still, it's, it's hard to say depressed, but the housing values are still low, there's still significant need for affordability subsidy. I think that this program is a really good step, but we would certainly love to talk about additional opportunities to keep providing resources so nonprofit developers in the private market can continue to meet demand.
Follow-up? Yes, please. Thank you so much. And I really want to encourage you to do that and perhaps do it as a collaborative effort with your colleagues. And if possible, kind of frame it by what you're talking about, the characteristic differences of the state of Ohio. And then, therefore, what are the problems with those characteristics and what's causing that problem? And then the kind of solutions, unique solutions that are going to help each one or do better with one and not the other. Any possible simplification and framing? Believe me, I think we'd all be willing participants in trying to help the state. but also I can't emphasize enough, you are the experts.
You're living this world. You see it firsthand, and you understand the nuances that we may not know. Through the chair to the representative, thank you. And there's a great coalition, I think almost everyone who has testified is part of called the Home Matters to Ohio Coalition. We work really closely together and would love to share our ideas as the opportunity arises.
Okay, well, thank you for your testimony.
Thank you.
Next, we have Tiffany Sokol with the Youngstown Neighborhood Development Corporation.
Welcome. Thank you. Good morning. Chair Hoops, Ranking Member Brownlee, and members of the committee, and thank you for the opportunity to provide proponent testimony on House Bill 765. My name is Tiffany Sokol, and I am the Housing Director at the Youngstown Neighborhood Development Corporation, otherwise known as YNDC, a nonprofit community development organization dedicated to improving the quality of life in Youngstown and surrounding communities through neighborhood revitalization, housing development, economic development, and community engagement. YNDC works tirelessly to deliver a tangible and lasting impact on the revitalization of Youngstown's neighborhoods. A critical component of our work is creating new opportunities for homeownership as no new single family housing is otherwise being developed for working middle class people in the communities we serve. YNDC and the Mahoning County Land Bank worked together to construct 36 new homes in the last year. YNDC currently has 30 new homes under construction with four more anticipated to begin soon. We have also renovated 21 vacant homes in the past 18 months and we anticipate building nearly 50 units this year with dozens of additional units in the pipeline for 2027. Through this work we have gained firsthand experience with both the for quality housing and the challenges associated with financing new single-family home construction in Ohio's legacy communities. In communities like Youngstown, the cost of constructing a new home exceeds the value the home will appraise for upon completion. Rising labor, material, and infrastructure costs have widened this gap in recent years, making it increasingly difficult for developers to produce affordable housing without additional financing tools, resulting in a low number of new homes being constructed. Approximately 60% of Mahoning County single-family housing stock was constructed before 1959 and 83% before 1979. If we continue building at the current pace of approximately 150 single-family homes per year, it will take us over 500 years, 521 to be exact, to replace our current housing stock. If that pace is doubled to 300 single-family homes per year, it will still take us 260 years to replace our current housing stock And I don know about you but there are not a lot of homes over 260 years old in my community The median household income in Mahoning County in 2024 was That means only 26% or so of households in Mahoning County earn the income typically required to comfortably afford a $300,000 home. There is very minimal new construction being developed in the Mahoning Valley and is largely being developed for a very small portion of the population who can afford $400,000, $500,000 or more. YNDC seeks to develop new housing for the $150,000 to $300,000 portion of the market, as there is already significant demand here, and development in this price range also builds the local market and works to incrementally close the gap between construction cost and home value. That is why YNDC strongly supports House Bill 765. I not going to rehash what all of my colleagues have already very well articulated about the changes to the tax credit and why it important But I will say that additional tools are needed to allow Ohio nonprofit developers to leverage private investment and make homeownership development financially feasible at a larger scale. House Bill 765 is a practical refinement that will strengthen Ohio's single-family tax credit program and help expand the supply of quality housing in communities across the state while building more functional markets with reduced need for state assistance long-term. For these reasons, I urge the committee's passage of House Bill 765, and thank you for your consideration. I'd be happy to answer any questions.
Thank you for your testimony. Are there any questions? Ranking Member Brownlee.
Through the chair, thank you. Thank you for that testimony and those sort of stark numbers. Would it behoove developers, funders, Ohioans, if we included multifamily dwellings into this type of tax credit?
There already tax credit programs like the low income housing tax credit program that incorporate larger developments for rental What makes this particular program unique is that it is for single family homes in particular and allows to create generational wealth for homeowners. The other programs ultimately, they do benefit low income folks in providing them with housing, but financially they're benefiting the developer. This program seeks to build generational wealth for individual families.
Seeing no other questions, thank you for your testimony. The committee also, you have written testimony. Is there anyone else out there that wanted to testify before I see none? But there's also written testimony on your iPad. and this seeing no further questions this stands as a second hearing for House Bill 765 but there being no further business before us the Development Committee stands adjourned