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Easier Access to Low-Income Housing Tax Credits

This bill aims to make it easier to provide housing for low-income individuals by changing tax credit rules for residential buildings. The new rules could allow more existing buildings to be used for affordable housing, potentially increasing its availability in the market.
Key points
Modifies how tax credits are calculated for low-income housing, especially when acquiring existing properties.
Simplifies obtaining tax credits for buildings previously in service, potentially encouraging the conversion of older properties into affordable housing.
Changes rules regarding the prior ownership period for a building to qualify for the tax credit.
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Additional Information
Affordable HOUSE Act of 2021
Print number: HR 4204
Sponsor: Rep. Neguse, Joe [D-CO-2]
Process start date: 2021-06-28