Boosts tax credits for developers to build more affordable homes for very low-income families.
This bill would make it easier for developers to build affordable homes for families with extremely low incomes. It would do this by increasing a special tax credit for projects that set aside at least 20% of their units for these households. This aims to help more very low-income families find stable housing.
Today, developers get a low-income housing tax credit based on their eligible costs. However, there isn't a specific higher credit for projects focusing on extremely low-income households. After this bill, developers would get a significantly larger tax credit for portions of buildings where at least 20% of units are set aside for extremely low-income households. This would allow them to count 150% of eligible costs for those units, making building housing for the poorest families more financially viable.
HR 3964 · 119th Congress · June 12, 2025 · AI Summary by gemini-2.5-flash · 9/10
Sign in to see your representatives' phone numbers