H.R. 9659 — Low Income Housing for Defense Communities Act

This bill broadens the exclusion of amounts received by members of the Armed Forces as a basic allowance for housing from income for purposes of meeting the income requirements of the low-income housing tax credit (LIHTC). This bill also increases the basis of properties developed within 15 miles of large military installations, generally making the developer of the property eligible for a larger LIHTC. Under current law, to be eligible for the LIHTC, properties must rent a percentage of units to individuals with incomes equal to or less than a percentage of an area’s median gross income (often referred to as the set-aside test). For purposes of calculating an individual’s income to determi...