North Carolina 2025 Session Status: In Committee 27 D cosponsors

HB 467 — Reenact Low-Income Housing Tax Credits.

Last action — Passed 1st Reading

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced March 20, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 26% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 27 sponsors

    3 primary, 24 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (27 D).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

135 added · 133 removed

Plain-language change summary

The latest version of House Bill 467 has updated wording to clarify existing provisions regarding tax credits for low-income housing developments in North Carolina. Key changes include ensuring that the designation of income levels for counties or cities will not affect the percentage of tax credits available to developers once a federal credit is allocated. These adjustments are important because they provide stability for developers, encouraging investment in affordable housing without the risk of losing tax benefits due to future changes in income designations.

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GENERAL ASSEMBLY OF NORTH CAROLINA H.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 H 1 HOUSE BILL 467 Short Title:
467 Mar 20, 2025 SESSION 2025 HOUSE PRINCIPAL CLERK H D HOUSE BILL DRH10231-MCf-171 Short Title:
Representative Greenfield.
Representatives Greenfield, A.
Jones, T.
Brown, and Crawford (Primary Sponsors).
For a complete list of sponsors, refer to the North Carolina General Assembly web site.
A BILL TO BE ENTITLED AN ACT TO REENACT THE LOW-INCOME HOUSING TAX CREDITS.
Rules, Calendar, and Operations of the House March 24, 2025 A BILL TO BE ENTITLED AN ACT TO REENACT THE LOW-INCOME HOUSING TAX CREDITS.
105-129.41, is reenactedas it existedimmediately beforeits repeal andreads as rewritten:
105-129.41, is reenactedas it existed immediatelybeforeits repeal and reads as rewritten:
105-129.41 applies to buildings that are awarded a federal credit allocation beforeJanuary 1, 2003.
105-129.41 applies to buildings that are awarded a federal credit allocation beforeJanuary1, 2003.
105-129.42applies to buildings that areawardeda federal credit allocation on or after January 1, 2003.
105-129.42applies to buildings thatareawarded a federal credit allocation on or after January 1, 2003.
For the purpose of this section, qualified basis is calculated based on the information contained in the carryover allocation and is not recalculated to reflect subsequent increases or decreases.
For the purpose of this section, qualified basis is calculated based on the information contained in the carryover allocation and *H467-v-1* General Assembly Of North Carolina Session 2025 is not recalculated to reflect subsequent increases or decreases.
*DRH10231-MCf-171* General Assembly Of North Carolina Session 2025 (c) Developments and Amounts.
(c) Developments and Amounts.
A change in the income designation of a county or city after a federal credit is allocated does not affect the percentage of the developer's qualified basis for which a credit is allowed.
A change in the income designation of a countyor cityafter a federal credit is allocated does not affect the percentage of the developer's qualified basis for which a credit is allowed.
– When ataxpayerto whomafederal low-incomehousingcredit is allocated submits to the Housing Finance Agency a request to receive a carryover allocation for that credit, the taxpayer must elect a method for receiving the tax credit allowed by this section.
– When ataxpayerto whomafederal low-incomehousingcredit is allocated submits to the Housing Finance Agencya request to receive a carryover allocation for that credit, the taxpayer must elect a method for receiving the tax credit allowed by this section.
Under the loan method, a taxpayer elects to transfer the credit allowed by this section to the Housing Finance Agency and receive a loan from that Agency for the amount of the credit.
Page 2 House Bill 467-First Edition General Assembly Of North Carolina Session 2025 Under the loan method, a taxpayer elects to transfer the credit allowed by this section to the Housing Finance Agency and receive a loan from that Agency for the amount of the credit.
The Page 2 DRH10231-MCf-171 General Assembly Of North Carolina Session 2025 terms of the loan are specified by the Housing Finance Agency in accordance with the Qualified Allocation Plan.
The terms of the loan are specified by the Housing Finance Agency in accordance with the Qualified Allocation Plan.
The Housing Finance Agency is not required to make a loan to a qualified North Carolinalow-incomehousingdevelopmentuntil theSecretary transfersthe credit amount to the Agency.
The Housing Finance Agency is not required to make a loan to a qualified North Carolinalow-incomehousingdevelopment until theSecretarytransfersthe credit amount to the Agency.
The Agency holds the refund due the taxpayer in escrow, with nointerestaccruingtothetaxpayerduringtheescrowperiod.TheAgencymustreleasetherefund to the taxpayer upon the occurrence of the earlier of the following:
The Agency holds the refund due the taxpayer in escrow, with nointerestaccruingtothetaxpayerduringtheescrowperiod.TheAgencymust releasetherefund to the taxpayer upon the occurrence of the earlier of the following:
(1) The Agency determines that the taxpayer has complied with the Qualified Allocation Plan and has completed at least fifty percent (50%) of the activities included in the development's qualified basis.
(1) The Agency determines that the taxpayer has complied with the Qualified Allocation Plan and has completed at least fiftypercent (50%) of the activities included in the development's qualified basis.
If the taxpayer or any of its owners are required under section 42(j) of the Code to recapture all or part of a federal credit with respect to a qualified North Carolina low-income development, the taxpayer forfeits the corresponding partof the credit allowedunder this section.
If the taxpayer or any of its owners are required under section 42(j) of the Code to recapture all or part of a federal credit with respect to a qualified North Carolina low-income development, the taxpayer forfeits the correspondingpartof the credit allowed under this section.This requirement does not apply in the following circumstances:
This requirement does not apply in the following circumstances:
A taxpayer that fails to pay the taxes, refund, and interest by the due date is subject to the penalties provided in G.S.
A taxpayer that House Bill 467-First Edition Page 3 General Assembly Of North Carolina Session 2025 fails to pay the taxes, refund, and interest by the due date is subject to the penalties provided in G.S.
DRH10231-MCf-171 Page 3 General Assembly Of North Carolina Session 2025 "§ 105-129.43.
"§ 105-129.43.
The Department must include in the economic incentives report required by G.S.
The Department must include in the economic incentives report required byG.S.
(2) Thelocation of eachqualifiedNorth Carolina low-incomebuilding orhousing development for which a credit was taken.
(2) Thelocation of eachqualifiedNorth Carolina low-incomebuildingor housing development for which a credit was taken.
Page 4 DRH10231-MCf-171
Page 4 House Bill 467-First Edition
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Action History

  1. Passed 1st Reading

  2. Ref To Com On Rules, Calendar, and Operations of the House

  3. Filed

Sponsors

Sponsorship breakdown

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3 sponsors · 24 co-sponsors · 152 not signed on

Sponsors (3)

Co-sponsors (24)

Not signed on (152)

152 members have not signed on to this bill.

Show all 152 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 467?
HB 467 is sponsored by Brian Turner (Democratic), Phil Rubin (Democratic), Rodney D. Pierce (Democratic), Marcia Morey (Democratic), Jordan Lopez (Democratic), Tim Longest (Democratic), Monika Johnson-Hostler (Democratic), Zack Hawkins (Democratic), Pricey Harrison (Democratic), Allison A. Dahle (Democratic), Mike Colvin (Democratic), Bryan Cohn (Democratic), Tracy Clark (Democratic), Maria Cervania (Democratic), Deb Butler (Democratic), Allen Buansi (Democratic), Gloristine Brown (Democratic), Mary Belk (Democratic), Cynthia Ball (Democratic), Amber M. Baker (Democratic), Eric Ager (Democratic), Sarah Crawford (Democratic), Terry M. Brown Jr. (Democratic), Abe Jones (Democratic), Julia Greenfield (Democratic), Cecil Brockman (Democratic), and Julie von Haefen (Democratic).
What is the current status of HB 467?
This bill is in committee in the House. Introduced March 20, 2025. It must pass committee before a floor vote.
Where can I track HB 467?
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