H.R.3077: Affordable Housing Credit Improvement Act of 2019
Affordable Housing Credit Improvement Act (H.R. 3077) would update and reform the Low-Income Housing Tax Credit the largest national affordable housing production program in the United States. The bill would expand the Housing Credit by 50 percent and increases existing incentives to encourage developers to build rental homes that are affordable to extremely low-income households and in underserved rural and tribal communities. Additionally, the bill would designate ensures that rural communities are designated as “Difficult To Develop Areas,” making housing developments automatically eligible for a 30% basis boost to increase the investment of Housing Credits.
S. 1703 is the Senate companion bill.View Full Overview