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]

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.

Tracking Information

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Title

Rent Relief Act of 2019

Sponsors


History

DateChamberAction
2019-04-09HouseReferred to the House Committee on Ways and Means.
2019-04-09HouseIntroduced in House

Same As/Similar To

SB1106 (Same As) 2019-04-10 - Read twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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