Bill > HR6686

This bill would establish a new middle-income housing tax credit to encourage the production of affordable housing for low- and middle-income families. The bill would allow for a tax credit equal to a percentage of the qualified basis of each qualified middle-income building, with the applicable percentage determined by the Secretary of the Treasury. The bill sets forth various requirements and rules for the credit, including rules relating to eligible basis, qualified basis, rent restrictions, and the long-term commitment to middle-income housing. The bill also makes conforming amendments to other parts of the tax code to incorporate the new credit.