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Bill to curb abuses of affordable housing tax breaks moves a step from becoming law

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Bill to curb abuses of affordable housing tax breaks moves a step from becoming law

House Bill 21 would sound a death knell for so-called “traveling” housing finance corporations — a derisive term for entities located hundreds of miles away that, in exchange for large fees from developers, use their legal status to remove properties from the tax rolls of local jurisdictions by buying them and then designating them as affordable housing, often without making them any more affordable.