S. 2962 · 114th Congress
Affordable Housing Credit Improvement Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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CantwellSponsor14 cosponsors · 7 D, 6 R, 1 I
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Hatch
CS
D
Schumer
RW
D
Wyden
KA
R
Ayotte
AK
D
Klobuchar
LM
R
Murkowski
JM
D
Merkley
BB
D
Boxer
SC
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Collins
BC
R
Cassidy
BS
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Sanders
PL
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Leahy
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R
Portman
BS
D
Schatz3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code, with respect to the low-income housing tax credit, to: (1) expand the credit by increasing the state housing credit ceiling, (2) modify the cost-of-living adjustment required for the state housing credit ceiling, (3) establish a new average income test which may be used to determine if a low-income housing project…
What it does: CRS summary · Introduced in Senate · May 19, 2016
Affordable Housing Credit Improvement Act of 2016
This bill amends the Internal Revenue Code, with respect to the low-income housing tax credit, to: (1) expand the credit by increasing the state housing credit ceiling, (2) modify the cost-of-living adjustment required for the state housing credit ceiling, (3) establish a new average income test which may be used to determine if a low-income housing project qualifies for the credit, and (4) establish a minimum credit rate of 4% for certain new or existing buildings.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Affordable Housing Credit Improvement Act of 2016
Latest action (May 19, 2016): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: May 19, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.