US HB2169 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 11-0)
Status: Introduced on April 9 2019 - 25% progression, died in committee
Action: 2019-04-09 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 9 2019 - 25% progression, died in committee
Action: 2019-04-09 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows a refundable tax credit for individuals who pay rent for a principal residence that exceeds 30% of the individual's gross income for the taxable year. The amount of the credit ranges from 25% to 100% of the excess rent, depending on the gross income of the taxpayer. The credit is not available for taxpayers with gross income that exceeds $100,000 ($125,000 for a taxpayer whose principal residence is located in a high-cost area, as defined by the bill). Rent that exceeds 100% of the small area fair market rent (including the utility allowance) for the residence may not be taken into account for the purpose of determining the amount of the credit. For individuals who reside in government-subsidized housing, the bill allows a credit equal to 1/12 of the rent paid by the taxpayer (and not subsidized under the program) during the year with respect to the residence. The Department of the Treasury must establish a program for making advance payments of the credit on a monthly basis.
Title
Rent Relief Act of 2019
Sponsors
Rep. Danny Davis [D-IL] | Rep. Jimmy Gomez [D-CA] | Rep. Scott Peters [D-CA] | Rep. Al Green [D-TX] |
Rep. Sheila Jackson-Lee [D-TX] | Rep. Ayanna Pressley [D-MA] | Rep. Jimmy Panetta [D-CA] | Rep. Barbara Lee [D-CA] |
Rep. Derek Kilmer [D-WA] | Rep. Eleanor Norton [D-DC] | Rep. Gwen Moore [D-WI] |
History
Date | Chamber | Action |
---|---|---|
2019-04-09 | House | Referred to the House Committee on Ways and Means. |
2019-04-09 | House | Introduced in House |
Same As/Similar To
SB1106 (Same As) 2019-04-10 - Read twice and referred to the Committee on Finance.
Subjects
Housing supply and affordability
Income tax credits
Tax administration and collection, taxpayers
Taxation
Income tax credits
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/2169/all-info |
Text | https://www.congress.gov/116/bills/hr2169/BILLS-116hr2169ih.pdf |