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Affordable Housing Credit Reform: Expanding Supply and Protecting Vulnerable Tenants.

This Act increases the federal tax credits available to states for building and renovating low-income housing, aiming to boost the supply of affordable rental units. It introduces crucial tenant protections, including safeguards for victims of domestic violence and easier qualification rules for extremely low-income households, veterans, and students. These changes are designed to improve access to stable housing for specific groups of citizens.
Key points
Increased allocation of Low-Income Housing Tax Credits (LIHTC) to states by raising the per capita amount and the minimum amount.
New protections for victims of domestic violence, prohibiting lease termination or refusal based solely on related criminal activity if the tenant is the victim.
Easier qualification for affordable housing for specific groups, such as veterans, disabled individuals, and students who are victims of human trafficking or domestic violence.
Reduction of the tax-exempt bond financing requirement from 50% to 25% for buildings financed by obligations issued after 2023.
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Additional Information
Print number: 118_S_1557
Sponsor: Sen. Cantwell, Maria [D-WA]
Process start date: 2023-05-11
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OFFICIAL LEGAL TITLE

Affordable Housing Credit Improvement Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1557.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-05-11.

What are the main provisions?

Key points include:

  • Increased allocation of Low-Income Housing Tax Credits (LIHTC) to states by raising the per capita amount and the minimum amount.
  • New protections for victims of domestic violence, prohibiting lease termination or refusal based solely on related criminal activity if the tenant is the victim.
  • Easier qualification for affordable housing for specific groups, such as veterans, disabled individuals, and students who are victims of human trafficking or domestic violence.
  • Reduction of the tax-exempt bond financing requirement from 50% to 25% for buildings financed by obligations issued after 2023.
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 Sen. Cantwell, Maria [D-WA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Taxes Real Estate Public Investments