This bill seeks to enhance the affordability and accessibility of assisted living services for low-income elderly individuals by leveraging federal programs. It amends the Social Security Act to expand Medicaid coverage , including services provided in assisted living residences as a mandatory benefit. This coverage is specifically for individuals who would otherwise require the level of care found in a hospital or nursing facility, provided that the estimated annual per capita Medicaid cost for assisted living is no greater than for institutional care. Furthermore, the legislation modifies the Low-Income Housing Tax Credit (LIHTC) program by adding a new selection criterion for Qualified Allocation Plans. States will now prioritize projects that aim to reduce medical assistance costs for long-term services and supports for the elderly by offering these services in a non-institutional setting. Both provisions are set to take effect for services and allocations made after January 1, 2027, with potential delays for states needing legislative changes for Medicaid implementation.