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Affordable Housing Credit Improvement Act of 2019

USA116th CongressS-1703| Senate 
| Updated: 6/4/2019
Maria Cantwell

Maria Cantwell

Democratic Senator

Washington

Cosponsors (40)
Jeanne Shaheen (Democratic)Mazie K. Hirono (Democratic)Margaret Wood Hassan (Democratic)Dan Sullivan (Republican)Dianne Feinstein (Democratic)Catherine Cortez Masto (Democratic)Patrick J. Leahy (Democratic)Kirsten E. Gillibrand (Democratic)Christopher A. Coons (Democratic)Todd Young (Republican)Thomas R. Carper (Democratic)Angus S. King (Independent)Amy Klobuchar (Democratic)Lindsey Graham (Republican)Martha McSally (Republican)Robert P. Casey (Democratic)Tim Kaine (Democratic)Kyrsten Sinema (Independent)Sheldon Whitehouse (Democratic)Jacky Rosen (Democratic)Chris Van Hollen (Democratic)Kevin Cramer (Republican)Jon Tester (Democratic)Debbie Stabenow (Democratic)Johnny Isakson (Republican)Michael F. Bennet (Democratic)Tina Smith (Democratic)Sherrod Brown (Democratic)Bernard Sanders (Independent)Tammy Baldwin (Democratic)Cory A. Booker (Democratic)Benjamin L. Cardin (Democratic)Susan M. Collins (Republican)Gary C. Peters (Democratic)Cory Gardner (Republican)Rob Portman (Republican)Ron Wyden (Democratic)Richard Blumenthal (Democratic)Lisa Murkowski (Republican)Shelley Moore Capito (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Jun 4, 2019

Latest Companion Bill Action

HR 116-3077
Introduced in House
Jun 4, 2019
Introduced in Senate
Jun 4, 2019
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3218)
  • June 4, 2019

    Latest Companion Bill Action

    HR 116-3077
    Introduced in House


  • June 4, 2019
    Introduced in Senate


  • June 4, 2019
    Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3218)

Taxation

Related Bills

  • HR 116-3077: Affordable Housing Credit Improvement Act of 2019
  • HR 116-3478: Affordable HOUSE Act
Assault and harassment offensesBusiness investment and capitalCensus and government statisticsCrime victimsDisability and paralysisDomestic violence and child abuseEnergy efficiency and conservationHigher educationHousing and community development fundingHousing supply and affordabilityIncome tax creditsIncome tax deductionsIncome tax exclusionIndian social and development programsInflation and pricesLandlord 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 CongressS-1703| Senate 
| 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 4, 2019

Latest Companion Bill Action

HR 116-3077
Introduced in House
Jun 4, 2019
Introduced in Senate
Jun 4, 2019
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3218)
  • June 4, 2019

    Latest Companion Bill Action

    HR 116-3077
    Introduced in House


  • June 4, 2019
    Introduced in Senate


  • June 4, 2019
    Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3218)
Maria Cantwell

Maria Cantwell

Democratic Senator

Washington

Cosponsors (40)
Jeanne Shaheen (Democratic)Mazie K. Hirono (Democratic)Margaret Wood Hassan (Democratic)Dan Sullivan (Republican)Dianne Feinstein (Democratic)Catherine Cortez Masto (Democratic)Patrick J. Leahy (Democratic)Kirsten E. Gillibrand (Democratic)Christopher A. Coons (Democratic)Todd Young (Republican)Thomas R. Carper (Democratic)Angus S. King (Independent)Amy Klobuchar (Democratic)Lindsey Graham (Republican)Martha McSally (Republican)Robert P. Casey (Democratic)Tim Kaine (Democratic)Kyrsten Sinema (Independent)Sheldon Whitehouse (Democratic)Jacky Rosen (Democratic)Chris Van Hollen (Democratic)Kevin Cramer (Republican)Jon Tester (Democratic)Debbie Stabenow (Democratic)Johnny Isakson (Republican)Michael F. Bennet (Democratic)Tina Smith (Democratic)Sherrod Brown (Democratic)Bernard Sanders (Independent)Tammy Baldwin (Democratic)Cory A. Booker (Democratic)Benjamin L. Cardin (Democratic)Susan M. Collins (Republican)Gary C. Peters (Democratic)Cory Gardner (Republican)Rob Portman (Republican)Ron Wyden (Democratic)Richard Blumenthal (Democratic)Lisa Murkowski (Republican)Shelley Moore Capito (Republican)

Finance Committee

Taxation

Related Bills

  • HR 116-3077: Affordable Housing Credit Improvement Act of 2019
  • HR 116-3478: Affordable HOUSE Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Assault and harassment offensesBusiness investment and capitalCensus and government statisticsCrime victimsDisability and paralysisDomestic violence and child abuseEnergy efficiency and conservationHigher educationHousing and community development fundingHousing supply and affordabilityIncome tax creditsIncome tax deductionsIncome tax exclusionIndian social and development programsInflation and pricesLandlord 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