Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently deter…
Creates a new federal tax credit (Section 42A) to subsidize development of "working families" rental housing with specific income and unit tests, a 15-year credit period, and state allocation rules modeled on the low-income housing tax credit. It requires prevailing-wage-like labor standards, extended-use covenants, nonprofit set-asides, and a 20% increase in State ceilings for rural/exurban projects.
Liberals highlight tenant protections and prevailing wages; conservatives highlight federal subsidy and costs.
Relative to its intended legislative type, this bill establishes a detailed new tax credit (section 42A) with comprehensive definitions, operational mechanics, anti‑abuse provisions, allocation and reporting duties, and multiple conforming amendments to the Internal Revenue Code.
Creates a new federal tax credit (Section 42A) to subsidize development of "working families" rental housing with specific income and unit tests, a 15-year credit period, and state allocation rules modeled on the low-income housing tax credit.
It requires prevailing-wage-like labor standards, extended-use covenants, nonprofit set-asides, and a 20% increase in State ceilings for rural/exurban projects.
The bill adds reporting and HUD coordination requirements, makes conforming Internal Revenue Code changes, and authorizes $100 million in grants and below-market loans for infrastructure tied to such projects.
Substantive, administrable proposal with broad appeal on housing, but costly tax expenditure, complexity, and labor provisions reduce enactment prospects.
Relative to its intended legislative type, this bill establishes a detailed new tax credit (section 42A) with comprehensive definitions, operational mechanics, anti‑abuse provisions, allocation and reporting duties, and multiple conforming amendments to the Internal Revenue Code. It assigns primary implementation roles to the Secretary and state/local housing credit agencies and authorizes a modest appropriation for associated infrastructure grants/loans.
Liberals highlight tenant protections and prevailing wages; conservatives highlight federal subsidy and costs.
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberals highlight tenant protections and prevailing wages; conservatives highlight federal subsidy and costs.
Generally supportive: the bill targets housing for working households and includes tenant protections, nonprofit set-asides, prevailing‑wage requirements, and rural support.
Would welcome additional emphasis on lowest-income households and stronger long‑term affordability protections.
Cautious support if program is fiscally managed and administratively workable.
Values state allocation rules, market feasibility limits, and HUD coordination, but worries about complexity, overlap with existing LIHTC, and net federal cost.
Likely skeptical or opposed: sees the measure as a large federal subsidy program expanding taxpayer support for housing development.
Concerns include federal picking winners, new spending/tax expenditures, prevailing‑wage mandates, and added regulatory complexity.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Substantive, administrable proposal with broad appeal on housing, but costly tax expenditure, complexity, and labor provisions reduce enactment prospects.
The bill has not accumulated any surfaced votes yet.
Liberals highlight tenant protections and prevailing wages; conservatives highlight federal subsidy and costs.
Substantive, administrable proposal with broad appeal on housing, but costly tax expenditure, complexity, and labor provisions reduce enact…
Relative to its intended legislative type, this bill establishes a detailed new tax credit (section 42A) with comprehensive definitions, operational mechanics, anti‑abuse provisions, allocation and reporting duties, and…
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