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Starting with the 2027 tax year, this bill would create a state income tax credit for property owners located within one mile of a large new state homeless services facility — defined as a location built after January 1, 2026 that offers emergency shelter, mental health treatment, and support services together at one site and has capacity for at least 500 year-round beds. Eligible property owners could claim a credit equal to 50% of the property taxes shown on their annual tax notice, applied against their state income taxes rather than their property tax bill directly, and any unused portion of the credit could be carried forward for up to three additional years. The credit would not apply to properties near other types of facilities, such as correctional facilities, medical or psychiatric facilities, behavioral health transition facilities, microshelter communities, or overflow shelters.