Amends existing law to revise provisions regarding a property tax exemption for certain low-income housing owned by nonprofit organizations.

This legislation amends and updates current statute, 63-602GG, Idaho code, which provides a property tax exemption for qualified workforce and affordable housing developments in Idaho. It allows non-profit organizations to partner with for profit entities on affordable housing projects and take advantage of other federal incentives for development. The proposed legislation also ensures the burden of new workforce housing construction will not negatively impact other local property taxpayers.