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Extending Affordable Housing Commitments: New Tax Credits for Owners.

This law aims to secure the availability of low-income rental housing for much longer periods. Property owners using affordable housing tax credits can now choose to keep rents low for 30 or 50 years, instead of the standard 15 years. In return, they receive additional tax credits, encouraging a stable, long-term supply of affordable homes for low-income residents.
Key points
Property owners can extend the required period for keeping rents low from 15 years up to 30 or 50 years.
In exchange for this long-term commitment, owners receive a new round of tax credits.
The change favors projects that commit to long-term affordability, increasing housing stability for low-income residents.
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Additional Information
Print number: 118_HR_8900
Sponsor: Rep. Nickel, Wiley [D-NC-13]
Process start date: 2024-06-28
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Keep Housing Affordable Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8900.

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 2024-06-28.

What are the main provisions?

Key points include:

  • Property owners can extend the required period for keeping rents low from 15 years up to 30 or 50 years.
  • In exchange for this long-term commitment, owners receive a new round of tax credits.
  • The change favors projects that commit to long-term affordability, increasing housing stability for low-income residents.
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. Nickel, Wiley [D-NC-13].

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 Benefits