119 HR 2725 IH: Affordable Housing Credit Improvement Act of 2025 U.S. House of Representatives 2025-04-08 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS1st SessionH. R. 2725IN THE HOUSE OF REPRESENTATIVESApril 8, 2025Mr. LaHood (for himself, Ms. DelBene, Ms. Tenney, Mr. Beyer, Mr. Feenstra, Mr. Panetta, Mr. Buchanan, Mr. Larson of Connecticut, Mr. Kelly of Pennsylvania, Mr. Davis of Illinois, Mr. Estes, Ms. Sánchez, Mrs. Miller of West Virginia, Ms. Sewell, Mr. Murphy, Ms. Chu, Mr. Kustoff, Ms. Moore of Wisconsin, Mr. Fitzpatrick, Mr. Evans of Pennsylvania, Mr. Moore of Utah, Mr. Schneider, Ms. Malliotakis, Mr. Gomez, Mr. Carey, Mr. Horsford, Mr. Yakym, Mr. Suozzi, Mr. Miller of Ohio, Mr. Lieu, Mr. Emmer, Mr. Neguse, Mr. Hudson, Mr. Mrvan, Mr. Reschenthaler, Ms. McCollum, Mrs. Houchin, Ms. McBride, Mr. Flood, Ms. Kelly of Illinois, Mr. Finstad, Ms. Schakowsky, Mr. Kiley of California, Ms. Omar, Ms. Salazar, Mr. Peters, Mr. Huizenga, Mrs. Ramirez, Mr. Balderson, Ms. Budzinski, Mr. Moolenaar, Mr. Pappas, Mr. Gooden, Mrs. Beatty, Mr. LaMalfa, Mr. Garcia of California, Mr. Bergman, Ms. Goodlander, Mr. Fleischmann, Mrs. Dingell, Mrs. Kim, Mr. Casten, Mr. Garbarino, Ms. DeGette, Mr. Cole, Mr. Vargas, Mr. Valadao, Ms. Barragán, Mr. Carter of Georgia, Ms. Tlaib, Mr. Walberg, Mr. Bera, Mr. Calvert, Mr. Costa, Mr. Rouzer, Ms. Houlahan, Mr. Barr, Mr. Foster, Mr. Lawler, Mr. Quigley, Mr. Guest, Ms. Dean of Pennsylvania, Mr. Taylor, Mr. Goldman of New York, Mr. Evans of Colorado, Mr. Morelle, Ms. Maloy, Mr. Torres of New York, Mr. Zinke, Mr. Crow, Mr. Sessions, Ms. Pettersen, Mr. Issa, Mr. Mullin, Mr. Nunn of Iowa, Mr. Vasquez, Mr. Langworthy, Ms. Stevens, Mr. Guthrie, Mr. Cleaver, Mrs. Hinson, Mr. Deluzio, Mr. Wittman, Mr. Magaziner, Mr. Johnson of South Dakota, Ms. Matsui, Mrs. Kiggans of Virginia, Mr. Thanedar, Mr. Comer, Mrs. McIver, Mr. Rogers of Kentucky, Mr. Amo, Mr. Mann, Ms. Balint, Mr. Bost, Mr. Huffman, Mr. Ezell, Ms. Craig, and Mr. Stauber) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes.

1.

Short title; table of contents

(a)

Short title

This Act may be cited as the Affordable Housing Credit Improvement Act of 2025.(b)

Table of contents

The table of contents for this Act is as follows:Sec. 1. Short title; table of contents.Title I—Reform of State allocation formulasSec. 101. Increases in State allocations.Title II—Reforms relating to tenant eligibilitySec. 201. Average income test applicability to exempt facility bonds.Sec. 202. Codification of rules relating to increased tenant income.Sec. 203. Modification of student occupancy rules.Sec. 204. Tenant voucher payments taken into account as rent for certain purposes.Sec. 205. Requirement that low-income housing credit-supported housing protect victims of domestic abuse.Sec. 206. Clarification of general public use requirement relating to veterans, etc.Title III—Rules relating to credit eligibility and determinationSec. 301. Reconstruction or replacement period after casualty loss.Sec. 302. Modification of previous ownership rules; limitation on acquisition basis.Sec. 303. Certain relocation costs taken into account as rehabilitation expenditures.Sec. 304. Repeal of qualified census tract population cap.Sec. 305. Determination of community revitalization plan to be made by housing credit agency.Sec. 306. Prohibition of local approval and contribution requirements.Sec. 307. Increase in credit for certain projects designated to serve extremely low-income households.Sec. 308. Increase in credit for bond-financed projects designated by State agency.Sec. 309. Elimination of basis reduction for low-income housing properties energy efficient commercial building deduction.Sec. 310. Restriction of planned foreclosures.Sec. 311. Increase of population cap for difficult development areas.Sec. 312. Increased cost oversight and accountability.Sec. 313. Tax-exempt bond financing requirement.Title IV—Reforms relating to Native American assistanceSec. 401. Selection criteria under qualified allocation plans.Sec. 402. Inclusion of Indian areas as difficult development areas for purposes of certain buildings.Title V—Reforms relating to rural assistanceSec. 501. Inclusion of rural areas as difficult development areas.Sec. 502. Uniform income eligibility for rural projects.Title VI—Exempt facility bondsSec. 601. Revision and clarification of the treatment of refunding issues.Title VII—Affordable housing tax creditSec. 701. Affordable housing tax credit.Title VIII—Data and TransparencySec. 801. Sense of Congress.