CT HB06640

Connecticut Housing Finance Authority shall allocate low income housing tax credits by creating priority tiers in the Qualified Allocation Plan, effective October 1, 2015.

Seventy-five percent of credits shall prioritize feasible proposals in high or very high opportunity areas, defined as proposals likely to begin construction within nine months of award.

Twenty-five percent of credits shall prioritize catalytic proposals in very low, low, or moderate opportunity areas that are part of neighborhood plans enhancing economic development without increasing poverty levels.

Opportunity areas are designated using Kirwan Institute mapping analysis assessing census tracts based on educational, economic, and neighborhood characteristics including school performance, poverty rates, and crime rates.

Unallocated credits due to insufficient qualified proposals in any round shall be made available to the general applicant pool according to priorities in the Qualified Allocation Plan.