House Taxes Committee hears workforce housing tax credit bill
The House Taxes Committee heard the GMNP-initiated workforce housing tax credit bill Wednesday, where it received mostly positive feedback from members. The bill, HF 3841 (authored by Rep. Rod Hamilton, R-Mountain Lake), would incentivize private investment in workforce housing projects to help jump-start housing markets where units are badly needed.
Albert Lea Area Schools Superintendent Mike Funk and Albert Lea City Manager Chad Adams presented to the committee about the enormous need for market rate housing in their city. Funk noted that teachers cannot find housing in the city, which inhibits the district’s ability to recruit teachers.
The bill was laid over for possible inclusion in the House tax bill. The Senate tax bill, which is currently in conference committee, contains the workforce housing tax credit proposal, but it remains unclear whether the legislature will pass a tax bill this year.