S. 1515 · Where this bill is now
In committee
Introduced in the Senate, Apr 29, 2025
119th Congress
1st SessionS. 1515
1st SessionS. 1515
A BILL
Affordable Housing Credit Improvement Act of 2025
In the SenateNo vote yet
Sponsor: Sen. Todd Young (R-IN) · Introduced Apr 29, 2025 · Taxation · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Apr 29, 2025: “Read twice and referred to the Committee on Finance.”
Sections
Sections · 1
Title I — Reform of State allocation formulas · 1
Title II — Reforms relating to tenant eligibility · 6
- Sec. 201Average income test applicability to exempt facility bondsNo change
- Sec. 202Codification of rules relating to increased tenant incomeNo change
- Sec. 203Modification of student occupancy rulesNo change
- Sec. 204Tenant voucher payments taken into account as rent for certain purposesNo change
- Sec. 205Requirement that low-income housing credit-supported housing protect victims of domestic abuseNo change
- Sec. 206Clarification of general public use requirement relating to veterans, etcNo change
Title III — Rules relating to credit eligibility and determination · 13
- Sec. 301Reconstruction or replacement period after casualty lossNo change
- Sec. 302Modification of previous ownership rules; limitation on acquisition basisNo change
- Sec. 303Certain relocation costs taken into account as rehabilitation expendituresNo change
- Sec. 304Repeal of qualified census tract population capNo change
- Sec. 305Determination of community revitalization plan to be made by housing credit agencyNo change
- Sec. 306Prohibition of local approval and contribution requirementsNo change
- Sec. 307Increase in credit for certain projects designated to serve extremely low-income householdsNo change
- Sec. 308Increase in credit for bond-financed projects designated by State agencyNo change
- Sec. 309Elimination of basis reduction for low-income housing properties energy efficient commercial building deductionNo change
- Sec. 310Restriction of planned foreclosuresNo change
- Sec. 311Increase of population cap for difficult development areasNo change
- Sec. 312Increased cost oversight and accountabilityNo change
- Sec. 313Tax-exempt bond financing requirementNo change