Redirecting Unused Tax-Exempt Bonds to Boost Affordable Housing Supply.
This Act aims to increase financing for qualified residential rental projects by amending the tax code. It establishes a system to pool unused national volume caps for private activity bonds (PABs) and reallocate them to states based on their demonstrated need for multifamily housing financing. This mechanism is designed to accelerate the construction of affordable rental units, potentially easing housing shortages for citizens.
Key points
Allows states to access a national pool of unused tax-exempt bond capacity specifically for rental housing projects.
Funds are redistributed based on a state's "housing need percentage," reflecting past use of housing bonds.
The primary goal is to increase the supply of affordable rental housing to combat current shortages.
Status:
Expired
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