S. 3580 · 115th Congress
Seniors Affordable Housing Tax Credit Act
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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.
R
HellerSponsorNo cosponsors.
This bill establishes a tax credit for states to allocate to taxpayers who rent properties to low-income seniors using a rental reduction agreement.
What it does: CRS summary · Introduced in Senate · Oct 11, 2018
Seniors Affordable Housing Tax Credit Act
This bill establishes a tax credit for states to allocate to taxpayers who rent properties to low-income seniors using a rental reduction agreement.
Under a rental reduction agreement, the rent and utility payments for an eligible senior unit must be equal to the lesser of: (1) 30% of the monthly family income of the residents of the unit, or (2) the applicable standard fair market rent for the unit.
An eligible senior unit must have family income that does not exceed the greater of: (1) 30% of the area median gross income, or (2) the applicable poverty line for a family of the size involved. The unit must also include at least one occupant who has attained the age of 55 at the beginning of the lease
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Seniors Affordable Housing Tax Credit Act
Latest action (Oct 11, 2018): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Oct 11, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.