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More Housing for Extremely Low-Income Households

This act aims to facilitate the construction and access to housing for extremely low-income individuals. It modifies how housing tax credits are allocated, directing more funds towards projects serving the poorest households. This could increase the chances for those with the lowest incomes to find affordable housing.
Key points
A portion of housing tax credits will be reserved specifically for projects serving extremely low-income households.
Developers building housing for the poorest may receive increased tax credits, encouraging such investments.
The changes are set to take effect after December 31, 2023, and will remain in force until the end of 2033.
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Additional Information
Print number: 118_HR_418
Sponsor: Rep. Gomez, Jimmy [D-CA-34]
Process start date: 2023-01-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Affordable Housing Equity Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_418.

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 2023-01-20.

What are the main provisions?

Key points include:

  • A portion of housing tax credits will be reserved specifically for projects serving extremely low-income households.
  • Developers building housing for the poorest may receive increased tax credits, encouraging such investments.
  • The changes are set to take effect after December 31, 2023, and will remain in force until the end of 2033.
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 2025-12-25.

CATEGORIES

Real Estate Taxes