Creating a sales and use tax remittance program for affordable housing.

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Plain-English Summary

This bill allows cities and counties to create local programs that offer a sales and use tax remittance for qualifying affordable housing projects. Eligible organizations, such as nonprofit developers, can apply for this remittance, which would cover 100% of local sales and use taxes paid on materials and labor for these projects. The program aims to encourage the development of housing for low and moderate-income households, with requirements for affordability lasting at least 40 years.

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