HB 1179 Summary

• Expands general excise tax exemptions for affordable rental housing projects developed under collective bargaining agreements with prevailing wage protections from July 1, 2018 to June 30, 2022.

• Limits tax exemption benefits to $7,000,000 per year in aggregate for all approved projects, applying only to contracting costs.

• Requires exempted rental projects to serve households earning at or below 140% of area median family income, with at least 20% of units reserved for households at or below 80% of area median family income.

• Deems prevailing wages established under section 201H-36(a)(5) as the prevailing wages for compliance with chapter 104 (prevailing wage laws) when projects meet specified conditions including collective bargaining or project labor agreements.

• Sunsets the new rental housing exemption provision on June 30, 2022, with the underlying prevailing wage and tax law sections reverting to their pre-enactment form.