Tennessee House Bill HB1450

Tennessee 2023-2024 Regular Session

• Introduced: 1/31/23
• Refer: 2/20/24
• Refer: 2/28/24
• Refer: 3/5/24
• Refer: 3/20/24
• Refer: 3/26/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 7; Title 13; Title 48; Title 49; Title 67 and Title 68, relative to low-income housing.

Impact

The legislation is designed to refine the framework governing low-income housing in Tennessee, which may allow for longer-term planning and resource allocation for housing initiatives. By extending the duration mentioned in the statutes, stakeholders including local governments, housing authorities, and housing developers may benefit from a more stable regulatory environment, thus encouraging the development of affordable housing projects. Communities may see positive impacts on their housing situations, potentially leading to enhanced living conditions for low-income residents.

Summary

House Bill 1450 aims to amend existing provisions in the Tennessee Code Annotated related to low-income housing. The primary amendment changes the duration specified in certain taxation or housing regulations from eighteen months to twenty-four months. This change could potentially influence the way low-income housing projects are assessed or regulated over a longer period, affecting both developers and beneficiaries of such housing schemes.

Contention

While specific debates and points of contention surrounding HB1450 are not detailed in the provided documents, amendments to housing laws typically generate discussions related to funding, regulatory oversight, and the balance between state guidance and local autonomy. There might be concerns regarding the adequacy of support and resources for low-income residents amid these changes. Stakeholders might question whether the extended timeframe truly serves the community's needs or simply prolongs regulatory processes without meaningful outcomes.