119-HR3964

Bill is currently in: House
Path to Law
House Senate President

119th CONGRESS

1st Session

H. R. 3964

1. Short title
2. Increase in credit for certain projects designated to serve extremely low-income households

1. Short title

This Act may be cited as the "Affordable Housing Equity Act of 2025".

2. Increase in credit for certain projects designated to serve extremely low-income households

(a) In general - Section 42(d)(5) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

(C) Increase in credit for projects designated to serve extremely low-income households - In the case of any building—

(i) - 20 percent or more of the residential units (determined as if the imputed income limitation applicable to such units were 30 percent of area median gross income) in which are designated by the taxpayer for occupancy by households the aggregate household income of which does not exceed the greater of—

(I) - 30 percent of area median gross income, or

(II) - 100 percent of an amount equal to the Federal poverty line (within the meaning of section 36B(d)(3)), and

(ii) - which is designated by the housing credit agency as requiring the increase in credit under this subparagraph in order for such building to be financially feasible as part of a qualified low-income housing project,

(b) Effective date - The amendment made by this section shall apply to buildings which receive allocations of housing credit dollar amount after the date of enactment of this Act, or in the case of buildings that are described in section 42(h)(4)(B) of the Internal Revenue Code of 1986, for obligations that are part of an issue the issue date of which is after December 31, 2025.