3.0.0 548 2023-01-11T13:36:19Z 2023-01-11T13:36:19Z Senate S 2017-03-07 115 ssfi00 Finance Committee Senate Standing Referred to 2017-03-07T22:06:07Z Affordable Housing Credit Improvement Act of 2017 115 1661 HR 2018-01-16 ASSUMING FIRST SPONSORSHIP - Mr. Curbelo asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 1661, a bill originally introduced by Representative Tiberi, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection. 19:09:11 Related bill CRS Access to Affordable Housing Act 115 4185 HR 2017-10-31 Referred to the House Committee on Ways and Means. Related bill CRS 2017-03-07 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-03-07 Introduced in Senate IntroReferral 10000 9 Library of Congress C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA N H000338 Sen. Hatch, Orrin G. [R-UT] ORRIN HATCH R UT GRANT 2017-03-07 True W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR 2017-03-07 True S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2017-03-07 True S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2017-03-07 True L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2017-03-07 True H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV 2017-03-07 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2017-03-07 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2017-03-07 True M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2017-03-07 True Y000064 Sen. Young, Todd [R-IN] Todd Young R IN C. 2017-03-07 True C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2017-03-07 True B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO 2017-03-07 True S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2017-03-13 False P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH 2017-03-13 False S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2017-04-06 False H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH 2017-04-06 False M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2017-05-15 False S001198 Sen. Sullivan, Dan [R-AK] Dan Sullivan R AK 2017-05-15 False I000055 Sen. Isakson, Johnny [R-GA] Johnny Isakson R GA 2017-06-14 False G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2017-10-02 False S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2017-10-31 False K000384 Sen. Kaine, Tim [D-VA] Timothy Kaine D VA M. 2017-10-31 False K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2018-03-22 False G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2018-03-22 False M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2018-03-22 False M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2018-03-22 False H001069 Sen. Heitkamp, Heidi [D-ND] Heidi Heitkamp D ND 2018-03-22 False S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2018-03-22 False C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2018-03-22 False W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2018-03-22 False F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2018-03-22 False C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2018-03-22 False K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2018-03-22 False H001042 Sen. Hirono, Mazie K. [D-HI] Mazie Hirono D HI K. 2018-03-22 False D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2018-03-22 False C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2018-03-22 False N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2018-03-22 False B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2018-03-22 False C000174 Sen. Carper, Thomas R. [D-DE] Thomas Carper D DE R. 2018-05-21 False W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2018-09-06 False C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2018-11-14 False C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV 2018-11-14 False H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2018-11-14 False J000300 Sen. Jones, Doug [D-AL] Doug Jones D AL 2018-11-14 False B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2018-12-17 False Taxation Alternative and renewable resources Building construction Business investment and capital Energy efficiency and conservation Housing finance and home ownership Housing supply and affordability Income tax credits Indian social and development programs Inflation and prices Low- and moderate-income housing Residential rehabilitation and home repair Securities State and local finance State and local government operations Taxation 00 2017-03-07 Introduced in Senate 2017-04-03T21:36:17Z Affordable Housing Credit Improvement Act of 2017

This bill amends the Internal Revenue Code, with respect to the low-income housing credit, to rename the credit "the affordable housing credit" and make several modifications to the credit.

The bill increases state allocations for the credit and modifies the cost-of-living adjustments. It also revises tenant eligibility requirements, with respect to:

  • the average income test,
  • income eligibility for rural projects,
  • increased tenant income,
  • student occupancy rules, and
  • tenant voucher payments that are taken into account as rent.

The bill revises various requirements to:

  • establish a 4% minimum credit rate for certain projects,
  • permit relocation costs to be taken into account as rehabilitation expenditures,
  • repeal the qualified census tract population cap,
  • require housing credit agencies to make certain determinations regarding community revitalization plans,
  • prohibit local approval and contribution requirements,
  • increase the credit for certain projects designated to serve extremely low-income households,
  • increase the credit for certain bond-financed projects designated by state agencies,
  • increase the population cap for difficult development areas, and
  • eliminate the basis reduction for affordable housing properties that are allowed the credit and receive certain energy-related tax credits and deductions.

The bill also modifies requirements regarding the reconstruction or replacement period after a casualty loss, rights related to building purchases, the prohibition on claiming acquisition credits for properties placed in service in the previous 10 years, foreclosures, and projects that assist Native Americans.

]]> Affordable Housing Credit Improvement Act of 2017 Display Title Affordable Housing Credit Improvement Act of 2017 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes. Introduced in Senate IS Short Titles as Introduced Affordable Housing Credit Improvement Act of 2017 Introduced in Senate 2017-03-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s548is/xml/BILLS-115s548is.xml 2017-03-07 Read twice and referred to the Committee on Finance. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.