Supporting Small Affordable Housing Developers Act

This bill would change federal tax law so that certain small housing developers do not have to count affordable housing grants as taxable income. It would also exclude cash these developers receive from selling state or local affordable housing tax credits. To qualify, a business must have average gross receipts at or below $36 million (adjusted for inflation after 2027) and work in certain construction or real estate industries. Buyers of these transferable tax credits could not deduct what they pay for them. The bill would also let qualifying developers exclude from income certain forgiven government or nonprofit loans used to develop or rehabilitate affordable housing.

Full text and official record on Congress.gov

Sponsors

• Peter Welch Democrat sponsor
• 0 cosponsors