US Congress House Bill 3479 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: Introduced on June 25 2019 - 25% progression, died in committee
Action: 2019-06-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Amends the Internal Revenue Code, with respect to the low-income housing tax credit, to repeal the qualified contract option for a building that received its allocation of housing credit dollar amount before January 1, 2019, or received before that date, a determination from the bond issuer or housing credit agency of its eligibility to receive an allocation of a housing credit dollar amount. Under current law, properties subject to the low-income housing tax credit are subject to a 30-year affordability period, during which the value of properties is set at a below market rate. The qualified contract option allows property owners, in some cases, to convert to market rate after 15 years.

Save Affordable Housing Act of 2019

Rep. Joseph Neguse [D-CO]	Rep. Don Beyer [D-VA]	Rep. Jackie Walorski [R-IN]	Rep. Debbie Dingell [D-MI]
Rep. Ted Lieu [D-CA]	Rep. Debbie Mucarsel-Powell [D-FL]	Rep. Earl Blumenauer [D-OR]

Date	Chamber	Action
2019-06-25	House	Referred to the House Committee on Ways and Means.
2019-06-25	House	Introduced in House

SB1956 (Similar To) 2019-06-25 - Read twice and referred to the Committee on Finance.
SB4078 (Related) 2020-06-25 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/3479/all-info
Text	https://www.congress.gov/116/bills/hr3479/BILLS-116hr3479ih.pdf