Low-Income Housing Tax Credit Elimination Act

This legislative proposal, titled the Low-Income Housing Tax Credit Elimination Act , seeks to terminate the federal Low-Income Housing Tax Credit (LIHTC) program. The bill specifically amends Section 42 of the Internal Revenue Code of 1986 to introduce a sunset provision for this credit. Under the proposed amendment, no tax credit would be determined or allowed for any building placed in service in a taxable year beginning after the date of the bill's enactment. This measure would effectively cease the allocation of new LIHTC credits, thereby impacting the future development and financing of affordable housing projects nationwide.