SB5625: Affordable Housing Construction Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Internal Revenue Code of 1986 to enhance the low-income housing tax credit, and for other purposes.
Plain-language summary
This bill would change federal tax rules to make the low-income housing tax credit more generous. The low-income housing tax credit is a tool that gives tax breaks to developers who build affordable housing for people with lower incomes. The bill aims to encourage more affordable housing construction by improving how this tax credit works. Sponsors include Senators Sheldon Whitehouse and Jack Reed. The bill was recently introduced and is in its early stage in Congress.
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SB5625: Affordable Housing Construction Act