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More Housing for Extremely Low-Income Households Through Tax Credits

This bill aims to make it easier to build or renovate housing for people with very low incomes. It changes the tax credit system for developers, setting aside a portion of funds specifically for projects serving extremely low-income households and increasing the credit amount for such investments. This is intended to encourage the creation of more affordable housing options for those who need them most.
Key points
A portion of state housing tax credits will be required to be set aside for projects serving extremely low-income households (below 30% of area median income or 100% of the federal poverty line).
Housing projects for the lowest-income individuals may receive a higher tax credit amount to help make them financially viable.
These changes are set to apply from 2022 through the end of 2031.
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Additional Information
Print number: 117_HR_5219
Sponsor: Rep. Gomez, Jimmy [D-CA-34]
Process start date: 2021-09-10
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Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Affordable Housing Equity Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5219.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-09-10.

What are the main provisions?

Key points include:

  • A portion of state housing tax credits will be required to be set aside for projects serving extremely low-income households (below 30% of area median income or 100% of the federal poverty line).
  • Housing projects for the lowest-income individuals may receive a higher tax credit amount to help make them financially viable.
  • These changes are set to apply from 2022 through the end of 2031.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gomez, Jimmy [D-CA-34].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Real Estate Taxes Benefits