Save Affordable Housing Act of 2019
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 25, 2019)
Save Affordable Housing Act of 2019
This bill amends the Internal Revenue Code, with respect to the low-income housing tax credit, to repeal the qualified contract option for a building that received its allocation of housing credit dollar amount before January 1, 2019, or received before that date, a determination from the bond issuer or housing credit agency of its eligibility to receive an allocation of a housing credit dollar amount.
Under current law, properties subject to the low-income housing tax credit are subject to a 30-year affordability period, during which the value of properties is set at a below market rate. The qualified contract option allows property owners, in some cases, to convert to market rate after 15 years.
What just happenedJun 25, 2019
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJun 25, 2019
- Jun 25, 2019IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 25, 2019IntroReferralIntro-H
Introduced in House
- Jun 25, 2019IntroReferral1000
Introduced in House