Affordable Housing Credit Improvement Act of 2019 This bill revises provisions of the low-income housing tax credit and renames it as the affordable housing credit . The bill increases the per capita dollar amount of the credit and its minimum ceiling amount beginning in 2019 and extends the inflation adjustment for such amounts. The bill modifies tenant income eligibility requirements and the average income formula for determining such income. It also revises rules for student occupancy of rental units and tenant voucher payments and prohibits any refusal to rent to victims of domestic abuse. The bill further modifies the credit to establish a 4% minimum credit rate for certain housing projects, repeal the qualified census tract population cap, prohibit local approval and contribution requirements, increase the credit for certain projects designated to serve extremely low-income households, increase the credit for certain bond-financed projects designated by state agencies, eliminate the basis reduction for properties that receive certain energy-related tax benefits, and increase the population cap for difficult development areas (i.e., areas with high construction, land, and utility costs relative to area median gross income). The bill also includes Indian and rural areas as difficult development areas and modifies other requirements relating to casualty losses, acquisition credits, and foreclosures.
Administrative remediesAlaska Natives and HawaiiansAlternative and renewable resourcesAssault and harassment offensesBuilding constructionBusiness investment and capitalCensus and government statisticsCrime victimsDisability and paralysisDomestic violence and child abuseEnergy efficiency and conservationHigher educationHousing and community development fundingHousing finance and home ownershipHousing supply and affordabilityIncome tax creditsIncome tax deductionsIncome tax exclusionIndian claimsIndian social and development programsInflation and pricesInfrastructure developmentLandlord and tenantLighting, heating, coolingLow- and moderate-income housingMarriage and family statusResidential rehabilitation and home repairRural conditions and developmentSecuritiesSex offensesState and local financeState and local government operationsVeterans' loans, housing, homeless programs
Affordable Housing Credit Improvement Act of 2019
USA116th CongressHR-3077| House
| Updated: 6/4/2019
Affordable Housing Credit Improvement Act of 2019 This bill revises provisions of the low-income housing tax credit and renames it as the affordable housing credit . The bill increases the per capita dollar amount of the credit and its minimum ceiling amount beginning in 2019 and extends the inflation adjustment for such amounts. The bill modifies tenant income eligibility requirements and the average income formula for determining such income. It also revises rules for student occupancy of rental units and tenant voucher payments and prohibits any refusal to rent to victims of domestic abuse. The bill further modifies the credit to establish a 4% minimum credit rate for certain housing projects, repeal the qualified census tract population cap, prohibit local approval and contribution requirements, increase the credit for certain projects designated to serve extremely low-income households, increase the credit for certain bond-financed projects designated by state agencies, eliminate the basis reduction for properties that receive certain energy-related tax benefits, and increase the population cap for difficult development areas (i.e., areas with high construction, land, and utility costs relative to area median gross income). The bill also includes Indian and rural areas as difficult development areas and modifies other requirements relating to casualty losses, acquisition credits, and foreclosures.
Administrative remediesAlaska Natives and HawaiiansAlternative and renewable resourcesAssault and harassment offensesBuilding constructionBusiness investment and capitalCensus and government statisticsCrime victimsDisability and paralysisDomestic violence and child abuseEnergy efficiency and conservationHigher educationHousing and community development fundingHousing finance and home ownershipHousing supply and affordabilityIncome tax creditsIncome tax deductionsIncome tax exclusionIndian claimsIndian social and development programsInflation and pricesInfrastructure developmentLandlord and tenantLighting, heating, coolingLow- and moderate-income housingMarriage and family statusResidential rehabilitation and home repairRural conditions and developmentSecuritiesSex offensesState and local financeState and local government operationsVeterans' loans, housing, homeless programs