Affordable Housing Credit Improvement Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The Affordable Housing Credit Improvement Act of 2025 aims to reform the Low-Income Housing Credit by adjusting allocation formulas, modifying tenant eligibility rules, and addressing issues related to property rehabilitation and financing. Specifically, it increases state allocations, clarifies tenant income requirements, streamlines student occupancy rules, and strengthens protections for victims of domestic abuse. The bill also includes provisions to address issues with casualty losses, bond financing, and discriminatory land use policies.
Key provisions
- Increases state allocations based on a per capita amount and minimum amount, adjusted annually for inflation.
- Modifies tenant eligibility rules, including clarifying the application of average income tests and addressing tenant income increases.
- Allows for tenant-based assistance programs to be taken into account for certain projects.
- Protects victims of domestic abuse by prohibiting refusal of leases based on criminal activity related to domestic violence.
- Reconstructs rules regarding casualty losses, allowing for a longer period for reconstruction or replacement.
- Eliminates basis reduction for energy-efficient commercial buildings associated with affordable housing properties.
- Restricts planned foreclosures on affordable housing properties.
- Increases the population cap for difficult development areas.
Who is affected
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Sponsors
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