Affordable Housing Improvement Act: New Rules and Tax Credits
This act aims to increase affordable housing availability for low-income individuals by modifying the housing tax credit program. It introduces new tenant eligibility rules, increases state allocations for housing construction, and simplifies financing for housing projects, especially in rural and Native American areas. These changes are intended to facilitate the construction and maintenance of affordable housing, potentially impacting rental availability and costs for many families.
Key points
Increased state allocations for low-income housing construction, potentially increasing the number of available units.
Relaxed tenant eligibility rules, including for students, veterans, individuals with disabilities, and domestic violence victims, broadening access to housing.
Introduction of protections for domestic violence victims in housing supported by tax credits, ensuring their safety and housing stability.
Streamlined financing rules for housing projects, including in rural and Native American areas, aiming to accelerate construction in these regions.
Enhanced oversight of housing project development costs to ensure more efficient use of public funds.
Introduced
Citizen Poll