[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 3941 Introduced in Senate (IS)]








109th CONGRESS
  2d Session
                                S. 3941

 To amend the Internal Revenue Code of 1986 to fully allow students to 
live in units eligible for the low-income housing credit, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 26, 2006

 Mr. Santorum introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to fully allow students to 
live in units eligible for the low-income housing credit, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CLARIFICATION OF STUDENT HOUSING ELIGIBLE FOR LOW-INCOME 
              HOUSING CREDIT.

    (a) In General.--Section 42(i)(3)(D) of the Internal Revenue Code 
of 1986 (relating to certain students not to disqualify unit) is 
amended by striking all after clause (i) and inserting the following:
                            ``(ii) entirely by full-time students if 
                        such students are--
                                    ``(I) single parents and their 
                                children,
                                    ``(II) married and file a joint 
                                return, or
                                    ``(III) adult students fulfilling 
                                the requirements for a secondary school 
                                education or secondary education 
                                equivalency diploma.
                For purposes of determining whether a unit is occupied 
                by a full-time student, an individual under the age of 
                19 years who attends kindergarten through grade 12 
                shall not be taken into account.''.
    (b) Effective Date.--The amendment made by this section shall take 
effect on the date of the enactment of this Act.
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