HR 9856
ASAP Housing Act
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Bill overview
The ASAP Housing Act aims to increase the availability of affordable rental housing by temporarily modifying tax rules related to bonds used for building construction and renovation. Specifically, it creates an exception to the existing volume cap on bonds used to finance affordable housing projects, allowing for more bonds to be issued. These bonds must be used for buildings where all units are designated as affordable for low-income households and issued between 2025 and 2034. The bill also coordinates these bond provisions with existing low-income housing tax credits.
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