A bill (SB 199) has been introduced in the Oregon state legislature that would increase by $4 million the cap on the amount of Oregon Affordable Housing Tax Credits that may be outstanding in any fiscal year, from $17 million to $21 million. It would apply to affordable housing tax credits claimed in tax years beginning on or after January 1, 2010. Because the bill may have a revenue impact, legislators plan to defer action on SB199 until later in the session. Legislation in 2007 provided an exception for preservation projects and manufactured dwelling park purchases, since those properties already provide low rents.  read more…