Enacted Legislation Changes Definitions for Enterprise Zone Credits

The statutory definition of “multifamily residential housing” for purposes of the enterprise zone tax credits has been amended by increasing the maximum number of housing units to 200, from 175, and conversely, the percentage of commercial or retail facilities needed to meet the definition of “transit-oriented development” has been decreased from 30 percent to 15 percent.  The legislation (H.B. 91) was enacted May 11. It takes effect Aug. 1.