HR 6721
Rent Relief Act of 2023
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- Passed House
- Passed Senate
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Bill overview
The Rent Relief Act of 2023 creates a refundable tax credit for renters who pay more than 30% of their income in rent. The credit amount varies based on the taxpayer’s adjusted gross income, with higher incomes receiving a smaller percentage. Rent exceeding 100% of the fair market rent for the residence is not considered, and the IRS will establish a program to provide advance monthly payments of the credit to eligible taxpayers. This bill also includes funding for outreach and enrollment assistance.
Sponsors
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Primary sponsor
Cosponsors
Barbara Lee
Becca [D-VT-At Large] Balint
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