LIHTC tenant organizations

(a) In general Section 42(g) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (10) LIHTC tenant organizations (A) Rights of tenants In the case of any qualified low-income housing project which is an applicable project, families occupying rent-restricted units in such project shall have the same right as families described in section 8(o)(23)(B)(i), (ii) and (iii) of the United States Housing Act of 1937. (B) Responsibilities of owners and state housing credit agencies In the case of any applicable project, such project shall not be treated as a qualified low-income housing project for purposes of this section unless— (i) each owner of such project meets requirements which are the same as the requirements of clauses (i) and (iii) of subparagraph (C) and subparagraph (D) of section 8(o)(23) of the United States Housing Act of 1937, and (ii) each State housing credit agency meets requirements which are the same as the requirements of clauses (i) and (ii) of subparagraph (C) and subparagraph (D) of such section. (C) Applicable project For purposes of this paragraph, the term applicable project means— (i) any project which is placed in service after the date of enactment of this Act; and (ii) any project— (I) which was placed in service on or before the date of enactment of such Act; and (II) for which the date of enactment of such Act occurred before the end of the compliance period for such project. (D) Notice of right to organize (i) In general Each State housing credit agency shall notify each tenant living at a qualified low-income housing project of the right to organize as described in paragraph (10) annually. (ii) Tenancy addendum The Secretary shall require each State housing credit agency— (I) that has implemented a standard lease, lease addendum, or other guidance to owners of a qualified low-income housing project, to amend that document to include language affirming lessees’ right to organize provided for in this paragraph; or (II) that performs lease-based evaluations of low income-housing tax credit compliance to include in that evaluation a requirement to include a written affirmation of the tenant’s right to organize as provided for in this paragraph. (E) Authorization of appropriations There are authorized to be appropriated to the Secretary such sums as are necessary to carry out this paragraph.. (b) Effective date The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.