US Congress Senate Bill 1703 (Prior Session Legislation)

---

Spectrum: Slight Partisan Bill (Democrat 27-11-3)
Status: Introduced on June 4 2019 - 25% progression, died in committee
Action: 2019-06-04 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3218)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Revises provisions of the low-income housing tax credit and renames it as the affordable housing credit. The bill increases the per capita dollar amount of the credit and its minimum ceiling amount beginning in 2019 and extends the inflation adjustment for such amounts. The bill modifies tenant income eligibility requirements and the average income formula for determining such income. It also revises rules for student occupancy of rental units and tenant voucher payments and prohibits any refusal to rent to victims of domestic abuse. The bill further modifies the credit to establish a 4% minimum credit rate for certain housing projects, repeal the qualified census tract population cap, prohibit local approval and contribution requirements, increase the credit for certain projects designated to serve extremely low-income households, increase the credit for certain bond-financed projects designated by state agencies, eliminate the basis reduction for properties that receive certain energy-related tax benefits, and increase the population cap for difficult development areas (i.e., areas with high construction, land, and utility costs relative to area median gross income). The bill also includes Indian and rural areas as difficult development areas and modifies other requirements relating to casualty losses, acquisition credits, and foreclosures.

Affordable Housing Credit Improvement Act of 2019

Sen. Maria Cantwell [D-WA]	Sen. Todd Young [R-IN]	Sen. Ron Wyden [D-OR]	Sen. Johnny Isakson [R-GA]
Sen. Benjamin Cardin [D-MD]	Sen. Susan Collins [R-ME]	Sen. Margaret Hassan [D-NH]	Sen. Shelley Capito [R-WV]
Sen. Debbie Stabenow [D-MI]	Sen. Rob Portman [R-OH]	Sen. Sheldon Whitehouse [D-RI]	Sen. Angus King [I-ME]
Sen. Robert Casey [D-PA]	Sen. Cory Gardner [R-CO]	Sen. Thomas Carper [D-DE]	Sen. Dan Sullivan [R-AK]
Sen. Michael Bennet [D-CO]	Sen. Lisa Murkowski [R-AK]	Sen. Kevin Cramer [R-ND]	Sen. Kyrsten Sinema [I-AZ]
Sen. Chris Van Hollen [D-MD]	Sen. Tim Kaine [D-VA]	Sen. Amy Klobuchar [D-MN]	Sen. Tina Smith [D-MN]
Sen. Jeanne Shaheen [D-NH]	Sen. Christopher Coons [D-DE]	Sen. Lindsey Graham [R-SC]	Sen. Catherine Cortez Masto [D-NV]
Sen. Martha McSally [R-AZ]	Sen. Jacky Rosen [D-NV]	Sen. Patrick Leahy [D-VT]	Sen. Kirsten Gillibrand [D-NY]
Sen. Bernard Sanders [I-VT]	Sen. Tammy Baldwin [D-WI]	Sen. Gary Peters [D-MI]	Sen. Richard Blumenthal [D-CT]
Sen. Cory Booker [D-NJ]	Sen. Mazie Hirono [D-HI]	Sen. Jon Tester [D-MT]	Sen. Dianne Feinstein [D-CA]
Sen. Sherrod Brown [D-OH]

Date	Chamber	Action
2019-06-04	Senate	Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3218)

HB3077 (Same As) 2019-06-04 - Referred to the House Committee on Ways and Means.
HB3478 (Related) 2019-06-25 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/1703/all-info
Text	https://www.congress.gov/116/bills/s1703/BILLS-116s1703is.pdf