Affordable Housing Credit Improvements and Tenant Protections
This act amends the low-income housing tax credit program, increasing funding availability and simplifying rules to facilitate the construction and renovation of affordable housing. It also strengthens tenant protections, particularly for victims of domestic violence.
Key points
More funding for affordable housing: Increased the amounts states can allocate to support the construction of low-income housing.
Easier access for students and veterans: Modified rules on who can reside in affordable housing to improve access for students and veterans.
Protection for domestic violence victims: Introduced provisions to protect victims of domestic violence from eviction from affordable housing due to the perpetrator's actions.
Simplified financing rules: Reduced the required tax-exempt bond financing threshold, potentially making it easier to secure funds for housing projects.
Support for rural and Native American areas: Facilitated the development of affordable housing in difficult-to-develop rural and Indian areas.
Expired
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