Affordable Housing Boost: Higher Tax Credits and 35-Year Affordability Guarantee.
This law significantly increases federal funding available for low-income housing construction by raising state tax credit limits. It introduces strong incentives for developers to build greener, more accessible, and transit-connected properties, while also requiring fair wages for construction workers. Crucially, the period during which these homes must remain affordable is extended from 15 to 35 years, ensuring long-term stability for residents.
Key points
Massive increase in the annual Low-Income Housing Tax Credit allocation available to states to finance new affordable homes.
New tax credit bonuses for projects that pay prevailing wages, use renewable energy, are near public transit, or serve people with disabilities.
Extending the mandatory affordability period for new projects from 15 years to 35 years, securing housing stability for decades.
Increased focus and credit support for housing dedicated to extremely low-income families (30% or less of area median income).
Expired
Citizen Poll