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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Rent Relief Act of 2018

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to allow for a credit against tax for rent paid on the personal residence of the taxpayer.


Actions Overview (1)

Date
08/14/2018Introduced in House

All Actions (2)

Date
08/14/2018Referred to the House Committee on Ways and Means.
Action By: House of Representatives
08/14/2018Introduced in House
Action By: House of Representatives

Cosponsors (7)


Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means08/14/2018 Referred to

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Subjects (3)


Latest Summary (1)

There is one summary for H.R.6671. View summaries

Shown Here:
Introduced in House (08/14/2018)

Rent Relief Act of 2018

This bill amends the Internal Revenue Code to allow a refundable tax credit for individuals who pay rent for a principal residence that exceeds 30% of the individual's gross income for the taxable year.

The amount of the credit ranges from 25% to 100% of the excess rent, depending on the gross income of the taxpayer. The credit is not available for taxpayers with gross income that exceeds $100,000 ($125,000 for a taxpayer whose principal residence is located in a high-cost area, as defined by the bill). Rent that exceeds 150% of the fair market rent (including the utility allowance) for the residence may not be taken into account for the purpose of determining the amount of the credit.

For individuals who reside in government-subsidized housing, the bill allows a credit equal to 1/12 of the rent paid by the taxpayer (and not subsidized under the program) during the year with respect to the residence.