Save Affordable Housing Act of 2021
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 28, 2021)
Save Affordable Housing Act of 2021
This bill revises 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 eligible for 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 28, 2021
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJun 28, 2021
- Jun 28, 2021IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 28, 2021IntroReferralIntro-H
Introduced in House
- Jun 28, 2021IntroReferral1000
Introduced in House