Property Tax – Low–Income Housing Tax Credit – Valuation of Property

Requiring the Department of Housing and Community Development to notify the State Department of Assessments and Taxation, within 30 days of closing and the execution and delivery of a certain regulatory agreement, that a commercial property that is developed under a certain provision of federal law has been awarded a low-income tax credit; and applying the Act to all taxable years beginning after June 30, 2025.