Referred to the House Committee on Ways and Means.
The bill adds a sunset to Section 42 of the Internal Revenue Code, ending the federal low-income housing tax credit (LIHTC) for any building placed in service in taxable years beginning after the enactment date. It does not specify transition rules or replacement programs.
Liberal emphasizes loss of affordable housing and social harms.
Relative to its intended legislative type, this bill is a straightforward statutory repeal (a sunset) of the low-income housing tax credit implemented by adding a new subsection specifying an effective cutoff.
The bill adds a sunset to Section 42 of the Internal Revenue Code, ending the federal low-income housing tax credit (LIHTC) for any building placed in service in taxable years beginning after the enactment date.
It does not specify transition rules or replacement programs.
Simple statutory repeal but politically and economically disruptive; lacks compromise features and would mobilize strong opposition, so chance of enactment is very low.
Relative to its intended legislative type, this bill is a straightforward statutory repeal (a sunset) of the low-income housing tax credit implemented by adding a new subsection specifying an effective cutoff. The operative mechanism is legally precise in placement and timing but minimal in scope.
Liberal emphasizes loss of affordable housing and social harms.
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberal emphasizes loss of affordable housing and social harms.
Likely strongly opposed.
LIHTC is a major federal tool producing affordable rental housing; eliminating it risks fewer affordable units and greater housing instability.
Would demand replacement funding or safeguards.
Cautiously skeptical.
Recognizes LIHTC's bipartisan role in affordable housing creation and concerns about inefficiencies; prefers reform or a phased approach with clear replacements rather than abrupt repeal.
Generally supportive.
Views LIHTC as a sizable federal subsidy that distorts markets and benefits developers; repeal aligns with reducing tax expenditures and limiting federal intervention in housing markets.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Simple statutory repeal but politically and economically disruptive; lacks compromise features and would mobilize strong opposition, so chance of enactment is very low.
The bill has not accumulated any surfaced votes yet.
Liberal emphasizes loss of affordable housing and social harms.
Simple statutory repeal but politically and economically disruptive; lacks compromise features and would mobilize strong opposition, so cha…
Relative to its intended legislative type, this bill is a straightforward statutory repeal (a sunset) of the low-income housing tax credit implemented by adding a new subsection specifying an effective cutoff. The opera…
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