118th Congress · HOUSE BILLBILL

H.R. 418 — Affordable Housing Equity Act of 2023

“To amend the Internal Revenue Code of 1986 to designate projects serving extremely low-income households for purposes of allocating the State housing credit ceiling and determining an increased amount of low-income housing tax credit.”

Taxation

Introduced Jan 20, 2023

Last action Jan 20, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jan 20, 2023

Step 2

Referred

Jan 20, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires allocations through 2033 of low-income housing credit amounts for buildings designated to serve certain low-income households (i.e., aggregate household income does not exceed the greater of 30% of area median gross income, or 100% of an amount equal to the federal poverty line). The bill also increases the rate of the low-income housing credit for projects designated to serve such low-income households.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jan 20, 2023

Introduced in House

Jan 20, 2023

Referred to the House Committee on Ways and Means.