H.R. 764 · 115th Congress
Housing America's Workforce Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
VelázquezSponsorNo cosponsors.
This bill amends the Internal Revenue Code to allow employers a business-related tax credit for up to 50% (100% for small business employers) of the qualified housing expenses paid for the benefit of their employees. The bill defines "qualified housing expenses" to include homeownership assistance and rental assistance.
What it does: CRS summary · Introduced in House · Jan 31, 2017
Housing America's Workforce Act of 2017
This bill amends the Internal Revenue Code to allow employers a business-related tax credit for up to 50% (100% for small business employers) of the qualified housing expenses paid for the benefit of their employees. The bill defines "qualified housing expenses" to include homeownership assistance and rental assistance. The bill limits the annual amount of such credit per employee to the lesser of $10,000 or 6% of an employee's home purchase price, or up to $5,000 for rental assistance, adjusted for inflation after 2017. The bill excludes from employee gross income the value of employer-paid housing assistance.
The Department of Housing and Urban Development (HUD) may award grants in FY2017-FY2019, on a competitive basis, to nonprofit housing organizations or local governments for certain costs, including operating costs and technical assistance costs, of employer-assisted housing programs. HUD must establish a national clearinghouse, including a website, to provide information about employer-assisted housing programs to federal, state, and local governments; and other interested entities.
The Government Accountability Office must conduct a study of employer-assisted housing programs and provide HUD with an interim report by January 1, 2020, and final report by December 31, 2021.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Housing America's Workforce Act of 2017
Latest action (Jan 31, 2017): Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Taxation · Origin: House · Introduced: Jan 31, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.