US HB1661 | 2017-2018 | 115th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on March 21 2017 - 25% progression, died in chamber
Action: 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.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 21 2017 - 25% progression, died in chamber
Action: 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.
Text: Latest bill text (Introduced) [PDF]
Summary
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 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 a property that receives the tax credit for investments in energy property if the affordable housing credit is allowed for the property. 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.
Title
Affordable Housing Credit Improvement Act of 2017
Sponsors
History
Date | Chamber | Action |
---|---|---|
2018-01-16 | House | 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. |
2017-03-21 | House | Referred to the House Committee on Ways and Means. |
2017-03-21 | House | Introduced in House |
Same As/Similar To
SB548 (Related) 2017-03-07 - Read twice and referred to the Committee on Finance.
Subjects
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
Low- and moderate-income housing
Residential rehabilitation and home repair
Securities
State and local finance
Taxation
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
Low- and moderate-income housing
Residential rehabilitation and home repair
Securities
State and local finance
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/1661/all-info |
Text | https://www.congress.gov/115/bills/hr1661/BILLS-115hr1661ih.pdf |