Amends TCA Title 47 and Title 67.
Tennessee SB0948 amends the Tennessee Code Annotated (TCA) Title 47 and Title 67 to establish provisions for affordable housing programs adopted by local legislative bodies. The bill affects counties and municipalities that choose to implement such programs, specifically targeting low-income households and veterans experiencing homelessness. Key provisions include tax exemptions for properties used for affordable housing, requirements for payments in lieu of taxes for larger projects, and stipulations regarding the affordability of housing units.
Tennessee SB0948 amends the Tennessee Code Annotated (TCA) Title 47 and Title 67 to establish provisions for affordable housing programs adopted by local legislative bodies. The bill affects counties and municipalities that choose to implement such programs, specifically targeting low-income households and veterans experiencing homelessness. Key provisions include tax exemptions for properties used for affordable housing, requirements for payments in lieu of taxes for larger projects, and stipulations regarding the affordability of housing units.
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