summary
Introduced
06/28/2021
06/28/2021
In Committee
06/28/2021
06/28/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to repeal the qualified contract exception to the extended low- income housing commitment rules for purposes of the low-income housing credit, and for other purposes.
AI Summary
This bill repeals the qualified contract exception to the extended low-income housing commitment rules for the purposes of the low-income housing credit. Specifically, it amends the Internal Revenue Code to terminate the option for certain buildings that received a housing credit allocation or determination before January 1, 2019. The bill also provides rules for determining the fair market value of the non-low-income and low-income portions of existing projects. The amendments made by this bill apply to buildings for which a written request is submitted after the date of the bill's enactment.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to the House Committee on Ways and Means. (on 06/28/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/4205/all-info |
| BillText | https://www.congress.gov/117/bills/hr4205/BILLS-117hr4205ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr4205/BILLS-117hr4205ih.pdf.pdf |
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