Affordable Housing Construction Act

This bill changes the federal low-income housing tax credit. It raises the yearly amount of credits each state can award to $9.79 per resident or $11,340,000, with inflation adjustments after 2027. It gives larger credits to buildings that pay prevailing wages, use renewable energy, sit near public transit, have units designed for people with disabilities, or serve extremely low-income families, and requires that at least one-third of each state's credits go to these kinds of projects. It also lowers the tax-exempt bond financing threshold from 25 percent to 15 percent, lengthens the extended period that units must stay affordable from 15 to 35 years, and ends an option that let owners leave the program early for buildings awarded credits starting in 2027.

Full text and official record on Congress.gov

Sponsors

• Sheldon Whitehouse Democrat sponsor
• 1 cosponsors