Home » MBJ FEATURE » Cities, counties sue to amend rules governing Sec. 42 rules

Cities, counties sue to amend rules governing Sec. 42 rules

The Mississippi Association of Supervisors, the Mississippi Municipal League and dozens of cities and counties have sued the Mississippi Department of Revenue over the guidelines that agency has in place to calculate tax obligations of Section 42 housing developments.

The complaint was filed in Hinds County Chancery Court earlier this month.

When developers, a lot of whom are from out of state, build Section 42, or what are commonly called affordable rental housing developments, they get federal tax credits for doing so. The credits are awarded by the federal government to the property, but what often happens is the developers sell the tax credits, bringing in millions of dollars when…

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