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Middle-Income Housing Tax Credit: Supporting Affordable Housing Development

This act introduces a new tax credit to encourage the construction and renovation of housing affordable for middle-income individuals. The goal is to increase the supply of reasonably priced homes, potentially making it easier for many families to find suitable living arrangements.
Key points
A new tax credit for developers and building owners who create housing for middle-income individuals.
Support for housing projects where at least 60% of units are designated for individuals earning up to 100% of the area's median gross income.
Additional incentives for construction in high-cost areas or rural regions.
Requirement for long-term commitment to keep units affordable, ensuring availability for many years.
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Expired
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Additional Information
Print number: 118_HR_6686
Sponsor: Rep. Panetta, Jimmy [D-CA-19]
Process start date: 2023-12-07
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Workforce Housing Tax Credit Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6686.

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 2023-12-07.

What are the main provisions?

Key points include:

  • A new tax credit for developers and building owners who create housing for middle-income individuals.
  • Support for housing projects where at least 60% of units are designated for individuals earning up to 100% of the area's median gross income.
  • Additional incentives for construction in high-cost areas or rural regions.
  • Requirement for long-term commitment to keep units affordable, ensuring availability for many years.
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. Panetta, Jimmy [D-CA-19].

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

Taxes Real Estate