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Protecting Affordable Housing: Repealing the 'Qualified Contract' Exit Option for Tax Credit Projects.

This Act aims to increase the stability and availability of low-income housing created through federal tax credits. It modifies valuation rules and limits the 'qualified contract' option, which previously allowed property owners to exit the affordable housing program early. For citizens, this means that housing projects supported by public funds must remain affordable for a longer period, protecting tenants from the loss of low-cost housing status.
Key points
Limitation of the 'Qualified Contract' option: Owners of low-income housing buildings can no longer easily exit the program, aiming to extend the period of required low rents.
Increased stability for tenants: The change is designed to keep housing affordable for longer, preventing the conversion of these units into higher-priced market-rate housing.
Defines applicable buildings as those that received tax credits before January 1, 2025, introducing new fair market valuation rules that account for rent restrictions.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4572
Sponsor: Rep. Neguse, Joe [D-CO-2]
Process start date: 2025-07-21
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Save Affordable Housing Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4572.

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 2025-07-21.

What are the main provisions?

Key points include:

  • Limitation of the 'Qualified Contract' option: Owners of low-income housing buildings can no longer easily exit the program, aiming to extend the period of required low rents.
  • Increased stability for tenants: The change is designed to keep housing affordable for longer, preventing the conversion of these units into higher-priced market-rate housing.
  • Defines applicable buildings as those that received tax credits before January 1, 2025, introducing new fair market valuation rules that account for rent restrictions.
What is the specific legal status?

The current status is Introduced.

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. Neguse, Joe [D-CO-2].

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 2025-12-31.

CATEGORIES

Taxes Real Estate