Workforce Housing Tax Credit Act

This bill would create a new federal tax credit for building or renovating rental housing for middle-income households. To qualify, at least 60 percent of a project's units must have capped rents and be rented to people earning 100 percent or less of the area median income, and at least 20 percent must be units not already counted under the existing low-income housing tax credit. The credit would be claimed over 15 years, and each state would receive a yearly credit limit of the greater of $1.00 per resident or $1.5 million, adjusted for inflation after 2026. Owners would have to sign a long-term agreement to keep units affordable, and they could not refuse to rent to tenants who hold Section 8 vouchers.

Full text and official record on Congress.gov

Sponsors

• Jimmy Panetta Democrat sponsor
• 5 cosponsors