State lawmakers to take new swing at reining in abuses of affordable housing tax breaks

The Legislature closed some loopholes during its 2023 session that critics of so-called public facility corporations, or PFCs, contend were allowing the entities to be used for money grabs by developers while fostering little or no additional affordable housing. But some say another avenue for the tax breaks, housing finance corporations, or HFCs, has since been misused. Traveling housing finance corporations use their legal status to arrange tax breaks for developers and others, often from hundreds of miles away.