Increased Tax Credits for Energy Efficiency in Affordable Housing.
This Act increases tax credits for owners and developers who rehabilitate existing low-income housing buildings to achieve high energy efficiency standards. This means more affordable housing units may undergo energy-saving renovations, potentially lowering utility bills for tenants and improving living conditions. The changes aim to incentivize investment in green and energy-efficient solutions within the low-income housing sector.
Key points
The Low-Income Housing Credit for rehabilitation expenditures is increased from 100% to 130% for buildings achieving enhanced energy performance.
Enhanced energy performance requires either meeting advanced building standards or reducing the building's site energy usage intensity by 50% or more.
Buildings in high-cost areas that meet energy efficiency requirements qualify for an even higher credit of 160% of rehabilitation expenditures.
These amendments apply to projects allocated housing credit dollar amounts after December 31, 2025.
Status:
Introduced
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